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Old 10-15-2007, 01:27 PM
 
28,263 posts, read 39,927,756 times
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Could you provide a link to a credible economic analysis supporting that the boomers drawing on 401k's, IRA's etc. will pull down the stock market?

Sorry, I made no mention of this. Where exactly did you see it my posts?
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Old 10-15-2007, 03:05 PM
 
52,003 posts, read 41,844,208 times
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Quote:
Originally Posted by Tek_Freek View Post
Could you provide a link to a credible economic analysis supporting that the boomers drawing on 401k's, IRA's etc. will pull down the stock market?

Sorry, I made no mention of this. Where exactly did you see it my posts?
Sorry, I was kinda trying to respond to two posts with one and bungled it.

Here is your quote:

"Watch the stock market. After about 2010 it's going to drop like a rock....."
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Old 10-15-2007, 03:40 PM
 
Location: Sacramento
13,784 posts, read 23,819,620 times
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I agree that the stock market dive discussed in association with Baby Boomer retirement is probable nonsense. Take a look at the aggregate worldwide population statistics, and understand that much of our investment comes from other nations. And we invest in other nations too.

Worldwide economic growth is booming, and the Baby Boomer's impact won't even be a blip in those statistics

When I start drawing down my IRA, the countries impacted will be places like China, Brazil and India. I don't believe I'm alone here.
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Old 10-15-2007, 03:48 PM
 
Location: Wherabouts Unknown!
7,764 posts, read 16,884,745 times
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NewToCA wrote:
Worldwide economic growth is booming, and the Baby Boomer's impact won't even be a blip in those statistics

When I start drawing down my IRA, the countries impacted will be places like China, Brazil and India. I don't believe I'm alone here.
This is the kind of response I was hoping to obtain from the question in my post ( #86 )...someones opinion of who might buy the shares being sold. Seems reasonable to me. Thanks for sharing your opinion.

blessings...Franco
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Old 10-15-2007, 07:22 PM
 
28,263 posts, read 39,927,756 times
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Quote:
Originally Posted by Mathguy View Post
Sorry, I was kinda trying to respond to two posts with one and bungled it.

Here is your quote:

"Watch the stock market. After about 2010 it's going to drop like a rock....."
Again I make no mention of drawing on 401k, etc. You are overlooking the fact that the majority of us don't have one. Most that do don't have much of one. How do you think the Americans of my generation lived so well, sent all their kids to college, and still drive big cars and RV's? It's not magic. The money came from somewhere, and when I talk to those my age I get the same story: Double (some triple!!!) mortgages, credit card debt, no savings, and retirement funds raided for the good life.

My point is simply that the economic input produced today by the baby boomer's will drop. Considerably. Consumer spending represents 2/3 of economic growth in this country and the number of people about to retire is simply staggering. The number of people approaching retirement that are financially able to do so with out scrimping along on Social Security is a joke. These people are not going to be dumping the same amount of money into the economy that they are now. I look around at those my age and look at their financial status and it quite literally scares the Hell out of me. I'm glad I'm not in their shoes, because they're either going to work until the day the die on the floor at WalMart or McDonalds, or live in abject poverty. I watched my parents go through it. I know what I'm talking about.

At the same time the number of employment age Americans will be dwarfed by us. Unless they all make and spend an awful lot of money it doesn't look so good.

Don't forget the price of oil. Expected to reach $100 a barrel before long. And you will be paying for King George's foray into Iraq, and possibly a future visit to Iran. Payment due for you and your children and their children and their children and....

Bury your head in the sand, I don't care. I'm covered.
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Old 10-15-2007, 10:44 PM
 
Location: Portland, OR
414 posts, read 2,417,045 times
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Quote:
Originally Posted by Tek_Freek View Post
Again I make no mention of drawing on 401k, etc. You are overlooking the fact that the majority of us don't have one. Most that do don't have much of one. How do you think the Americans of my generation lived so well, sent all their kids to college, and still drive big cars and RV's? It's not magic. The money came from somewhere, and when I talk to those my age I get the same story: Double (some triple!!!) mortgages, credit card debt, no savings, and retirement funds raided for the good life.

My point is simply that the economic input produced today by the baby boomer's will drop. Considerably. Consumer spending represents 2/3 of economic growth in this country and the number of people about to retire is simply staggering. The number of people approaching retirement that are financially able to do so with out scrimping along on Social Security is a joke. These people are not going to be dumping the same amount of money into the economy that they are now. I look around at those my age and look at their financial status and it quite literally scares the Hell out of me. I'm glad I'm not in their shoes, because they're either going to work until the day the die on the floor at WalMart or McDonalds, or live in abject poverty. I watched my parents go through it. I know what I'm talking about.

At the same time the number of employment age Americans will be dwarfed by us. Unless they all make and spend an awful lot of money it doesn't look so good.

Don't forget the price of oil. Expected to reach $100 a barrel before long. And you will be paying for King George's foray into Iraq, and possibly a future visit to Iran. Payment due for you and your children and their children and their children and....

Bury your head in the sand, I don't care. I'm covered.
Some of that stuff should be pretty good for my generation though (i'm in my early 20s), people retiring should open up a lot of jobs and create new ones in healthcare and other services. Lot of qualified people not finding good jobs right now and spending $$$ for degrees. Couple that with a housing market you guys drove up with the artificial housing market based on new even riskier loan tools, and profits funneled into a lifestyle drastically out of whack with that of starting grads and that everyone tries to emulate, and its a not a pretty picture for people in their 20s. I'll be glad when people retire and there are more opportunities. I may choose to work in healthcare. At least I know I won't be suffering for a lack of a job.
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Old 10-16-2007, 07:26 AM
 
52,003 posts, read 41,844,208 times
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Quote:
Originally Posted by Tek_Freek View Post
Again I make no mention of drawing on 401k, etc. You are overlooking the fact that the majority of us don't have one. Most that do don't have much of one. How do you think the Americans of my generation lived so well, sent all their kids to college, and still drive big cars and RV's? It's not magic. The money came from somewhere, and when I talk to those my age I get the same story: Double (some triple!!!) mortgages, credit card debt, no savings, and retirement funds raided for the good life.

My point is simply that the economic input produced today by the baby boomer's will drop. Considerably. Consumer spending represents 2/3 of economic growth in this country and the number of people about to retire is simply staggering. The number of people approaching retirement that are financially able to do so with out scrimping along on Social Security is a joke. These people are not going to be dumping the same amount of money into the economy that they are now. I look around at those my age and look at their financial status and it quite literally scares the Hell out of me. I'm glad I'm not in their shoes, because they're either going to work until the day the die on the floor at WalMart or McDonalds, or live in abject poverty. I watched my parents go through it. I know what I'm talking about.

At the same time the number of employment age Americans will be dwarfed by us. Unless they all make and spend an awful lot of money it doesn't look so good.

Don't forget the price of oil. Expected to reach $100 a barrel before long. And you will be paying for King George's foray into Iraq, and possibly a future visit to Iran. Payment due for you and your children and their children and their children and....

Bury your head in the sand, I don't care. I'm covered.
Calm down, I'd already explained my earlier posting error but you must not have read what I wrote. I've taken the time to read your posts and then came away with a question or two so I asked. How this is "burying my head in the sand" is beyond me.

I agree with you 100% about living beyond your means, the costs of the Iraq war and increasing oil costs but those are not boomer retirement related. Your 2010 comment then is some degree of hyperbole as not everyone is suddenly going to retire....and to your central point many CAN'T.

Good comments.
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Old 10-16-2007, 08:07 AM
 
Location: Wherabouts Unknown!
7,764 posts, read 16,884,745 times
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wallstreet1986 wrote:
I may choose to work in healthcare. At least I know I won't be suffering for a lack of a job.
I strongly encourage you to become a Naturopathic Physician or some type of alternative healer, so that you can help us boomers heal with natural methods rather than turning us into drug addicts like many MDs are of doing. There are many of us out here who prefer natural healing over drugs and surgery. You'll never be lacking for patients, and you can feel good that you are truly helping people heal as opposed to masking a symptom with a dangerous and costly drug.

blessings....Franco
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Old 10-17-2007, 01:40 AM
 
10,373 posts, read 9,394,725 times
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Quote:
Originally Posted by Waterlily View Post
It's just starting to happen. Baby Boomers will be retiring by the millions within the next few years.

I am wondering if some cities or states will be minus a lot of population in the near future. Will there be lots of retired people moving south?

There is the work place issue as well. With millions retiring will we have enough workers?

What is your vision of the USA in about 10 or 15 years?
Many who collect s/s will not be able to make it without working at least part-time, and many will have to continue to work full-time as long as they are able. That being said, all of those (including myself) who will have to continue to work, will be putting money back in the s/s kitty. Therefore, we will not be draining the pot without putting some back in.
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Old 10-17-2007, 07:52 AM
 
29,789 posts, read 34,889,516 times
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For your thought, reflection and if you want participation

Divided We Fail
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