Replies

According to the IRS 85% of those reaching age 65 do not have $200 in the bank and that 87% retire on less than $250 per week for life. And to make matters worse due to the credit culture run amok there is an increased trend of men worth more at age 18 than at age 65.

Interesting. Link?

The credit boom that has been going on for the last couple of years led to many speculative-grade firms to leverage and debt finance themselves up the wazoo.

Really? I've read that corporate balance sheets are flush with cash.

What started as a small deficit of about $50 billion among households quickly spiked to a deficit of more than $350 billion in the second quarter of this year.

And when compared to the $45 trillion or so in household networth, that's less than 1%.

Anyways, Ocean View was correct about the way people have leveraged themselves. And there is a wealth of info to back him up. Easily.

Great. He said: consider the effects of the baby boomers moving towards retirement - they are pulling their asset base with them - back when people owned their cars, their homes, didn't have credit card debt, etc. outside that demographic, most americans probably have negative actual net worth when you consider their mortgages, car debts, credit cards debts, education loans, etc.

Since Ocean View has posted nothing more profound than, "I know some people who...." maybe you can link to some of that wealth of info that shows those younger than boomers probably have negative actual net worth.

Should be easy for you. Thanks.