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Old 10-14-2007, 09:10 AM
 
Location: Wherabouts Unknown!
7,764 posts, read 16,881,214 times
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Waterlily wrote:
Watch out world because we are not going to be working much longer!
Actually I think that many or most boomers will probably continue working in one way or anoither.....some from necessity and others by choice. At age 58, I would certainly like to cut back on the hours or do something more appealing than sitting in front of a computer in a cubicle for 8 hrs a day, complete retirement ain't too appealing.

blessings....Franco
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Old 10-14-2007, 01:34 PM
 
Location: home...finally, home .
8,236 posts, read 18,521,294 times
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The year 2008 will be here before you know it. I saw something on the news that said the first of the baby boomers will turn 62 and will be able to get their partial S.S. then. That means here comes the flood of soon to be retired baby boomers.

That's me, actually. (mixed feelings)
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Old 10-14-2007, 03:12 PM
 
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Given that the Baby Boom generation is supposedly birth years 1946-1964 (although the demographic phenomenon was specifically 1946-1957), and given that people retire at all sorts of ages, in many degrees and for many reasons, I don't think there will be a day or period where there is some huge shift. Over decades, yes, but not anything more acute.
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Old 10-14-2007, 03:14 PM
 
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"If the Immigration Bill would have passed, our Social Security would be gone in 2010, right now it is good until 2040."

All Soc.Sec. had to do is raise the income cap, and it's good to go. Surely there are plenty of incomes over the current, what is it, $97,000?
It's medical costs that are the 700-pound gorilla in the room, and Alzheimer's care, a huge resource-sucker for very little benefit, in my humble opinion.
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Old 10-15-2007, 08:09 AM
 
28,247 posts, read 39,914,600 times
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Watch the stock market. After about 2010 it's going to drop like a rock. As the disposable income of those baby boomer's shifts from spending (retirement homes, new car going into retirement, RV's, etc.) to saving for the rest of their retirement time, the economic stress will cause the markets to drop.

The U.S. will drastically change it's immigration laws because the current population will not be high enough (and if the dummying down in schools continues, smart enough) to support the infrastructure. Expect a change in the complexion of our country.
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Old 10-15-2007, 08:23 AM
 
Location: Wherabouts Unknown!
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Tek_Freek wrote:
Watch the stock market. After about 2010 it's going to drop like a rock. As the disposable income of those baby boomer's shifts from spending (retirement homes, new car going into retirement, RV's, etc.) to saving for the rest of their retirement time, the economic stress will cause the markets to drop.
To add to that, conventional IRA's require that withdrawls must be taken at age 70 1/2. I wonder who will be buying all of those shares being sold off?

blessings...Franco
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Old 10-15-2007, 08:38 AM
 
51,993 posts, read 41,825,420 times
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Quote:
Originally Posted by NewAgeRedneck View Post
Tek_Freek wrote:
Watch the stock market. After about 2010 it's going to drop like a rock. As the disposable income of those baby boomer's shifts from spending (retirement homes, new car going into retirement, RV's, etc.) to saving for the rest of their retirement time, the economic stress will cause the markets to drop.
To add to that, conventional IRA's require that withdrawls must be taken at age 70 1/2. I wonder who will be buying all of those shares being sold off?

blessings...Franco

So, if Joe sells $1000 worth of stock....that money goes into the economy enriching others it's not being "burned" or anything.

I've heard some of the gloom and doom scenarios around the boomers impacting the stock market and I've yet to see anything economically solid...it all seems to be coming from the guys trying to talk you into buying gold (from them) etc etc.

P.S. There WILL be a tax windfall for the govt. when those IRA's and 401l's start to mature. THAT will be interesting, hopefully they use that money to shore up soc. sec.
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Old 10-15-2007, 08:58 AM
 
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I've heard some of the gloom and doom scenarios around the boomers impacting the stock market and I've yet to see anything economically solid...it all seems to be coming from the guys trying to talk you into buying gold (from them) etc etc.

Of course you haven't seen anything solid. We haven't all retired yet! Did you miss the 2010 part?
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Old 10-15-2007, 09:07 AM
 
Location: Wherabouts Unknown!
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Mathguy

I wrote what I wrote, not as doom and gloom but rather as a question for discussion. If you are interpreting it as doom and gloom, perhaps that is because you might have some doom and gloom lurking within you. It's alwasy easier to project our shadows outwardly. Just a thought....I'm not calling you a doom and gloomer.

blessings...Franco
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Old 10-15-2007, 01:10 PM
 
51,993 posts, read 41,825,420 times
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Quote:
Originally Posted by Tek_Freek View Post
I've heard some of the gloom and doom scenarios around the boomers impacting the stock market and I've yet to see anything economically solid...it all seems to be coming from the guys trying to talk you into buying gold (from them) etc etc.

Of course you haven't seen anything solid. We haven't all retired yet! Did you miss the 2010 part?
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?

This is your position, so support it. I personally doubt it but I've been wrong before.

I have seen this theory espoused before....but it was generally in some scare tactic advertisement selling gold, real estate, bonds etc. that was really cheesy.
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