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Fed Chair Bernanke: Impending Baby Boomer Retirement Could 'Seriously' Weaken Economy
FOX ^ | 01/18/07 | Unknown

Posted on 01/18/2007 11:15:10 AM PST by Froufrou

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To: JimFreedom; Red Badger

I think I'm going to try the Jim Freedom retirement plan...works for Jim!


21 posted on 01/18/2007 11:49:45 AM PST by Froufrou
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To: PogySailor
I worry that the grasshoppers are going to try and raid the ants savings.

Be afraid, be very afraid. The Clintoons considered snatching all IRAs and 401Ks and rolling them into the SS funds.........

22 posted on 01/18/2007 11:50:32 AM PST by Red Badger (New! HeadOn Hemorrhoid Medication for Liberals!.........Apply directly to forehead.........)
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To: Red Badger

Ohno! We didn't GWB take this bull by the horns when he had the chance?


23 posted on 01/18/2007 11:52:43 AM PST by Froufrou
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To: JimFreedom
"...you must continually fight the sun and the salt spray in the air..."

Poor guy, do you need any help with those chores? If you do, you know where to e-mail me...

24 posted on 01/18/2007 11:53:06 AM PST by Russ
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To: Red Badger
I don't plan on retiring. Ever. All the retirees I know get bored within a few months and want to go back to work

Allow me to introduce myself. I'm Graybeard 58. Now you know one who isn't bored and has no desire to go back to work. I am as busy as I want to be and as lazy as I want to be. To me it's freedom. I retired in Dec. 1999 at age 54.

25 posted on 01/18/2007 11:55:41 AM PST by Graybeard58 (Remember and pray for SSgt. Matt Maupin - MIA/POW- Iraq since 04/09/04)
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To: Red Badger; Froufrou
Thanks! Yes sometimes I want to jump back in the fray and then I get one of THOSE emails from a former colleague and I grab a brew and go look at the ocean! But I still have to take medicine for high blood pressure, LOL!

I was in a very stressful work environment for many years.
26 posted on 01/18/2007 11:55:55 AM PST by JimFreedom (Pragmatic Common Sense Conservative - Too)
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To: Ron2
Congress needs to lock up Social Security and pay back everything they have taken from the program. This program should sustain itself if they leave it alone. Basically, they have stolen peoples retirement and used it for whatever they wanted to. Pay it back with a huge interest and penalty for using it.

You couldn't be more wrong. The program is unsustainable as now structured. In 1950, there were 16 workers to every retiree, today there are 3.3, and in 2030 there will be 2 workers for every retiree. Almost half of the national debt is comprised of the SS Trust Fund, which is filled with non-market T-bills, which are really unfunded liabillities and not assets.

In order to "pay it back," we would have to borrow the money, which increases the costs of the servicing the national debt, which takes 17 cents of every federal dollar. SS is a pay as you go system and should be made a regular part of the budget. The SS "surplus" starts declining in 2008 and will go in the red in 2017. The only real long term solution is private accounts.

27 posted on 01/18/2007 11:56:22 AM PST by kabar
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To: Graybeard58

Are you married?......


28 posted on 01/18/2007 11:59:18 AM PST by Red Badger (New! HeadOn Hemorrhoid Medication for Liberals!.........Apply directly to forehead.........)
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To: Froufrou
In other comments, Bernanke observed that rain is wet and that bears have been known to s**t in the woods.

"Golly, who woulda thunk it?" he observed.

29 posted on 01/18/2007 12:00:06 PM PST by Doghouse Riley (No war unless it's total war for total victory.)
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To: Graybeard58

Outstanding! JimFreedom Oct 2001 at age 52. FREEDOM! (think Braveheart, LOL)


30 posted on 01/18/2007 12:00:19 PM PST by JimFreedom (Pragmatic Common Sense Conservative - Too)
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To: Graybeard58

Same here, Graybeard. My husband retired at 54, worked one more year under a special contract and then I retired with him at age 41. It's been 9 years and I'm not bored yet. What am I doing wrong? LOL


31 posted on 01/18/2007 12:02:18 PM PST by Peach (The Clintons pardoned more terrorists than they captured or killed.)
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To: Graybeard58

I've stayed at home raising my kids. Going back to work, I plan on working for as long as I can. I have many fries who can't wait to retire. My inlaws who retired 15 years ago, have NO schedule, sleep in all day are up all night and have no goals in their life.

I do not want this for myself. I want to remain productive for as long as I can. So looking forward to re-entering the workforce.


32 posted on 01/18/2007 12:03:45 PM PST by television is just wrong (Our sympathies are misguided with illegal aliens...)
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To: Froufrou

This shouldn't be an issue with 20-30 million folks from the deep, deep south coming to the rescue.


33 posted on 01/18/2007 12:06:27 PM PST by Rb ver. 2.0
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To: Red Badger

I am happily married, my wife still works by her own choice. Her job involves a lot of travel and I go where she goes when I want to and stay at home when I want to.

I'm not trying to sell anyone on retirement it does work for some however.

Some retirees are just as you described, I have friends who retired, one of them took a job at a car wash soon after retirement and I know for a fact that it wasn't for the money.Another frind, an avid hunter/fisherman used to spend all his free time hunting or fishing, now all of his tiime is free time, it's hard to ever find him at home.


34 posted on 01/18/2007 12:07:07 PM PST by Graybeard58 (Remember and pray for SSgt. Matt Maupin - MIA/POW- Iraq since 04/09/04)
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To: Froufrou

But, but, I distinctly remember Harry Reid and the Dems say in '06 there was no problem, the fund is sustainable until 2080 and that there was no need for Bush to rile everyone up over a nonproblem. Was I mistaken?


35 posted on 01/18/2007 12:09:03 PM PST by Safetgiver (Stinko De mayo, Stinko to the Commies.)
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To: Rb ver. 2.0; Doghouse Riley

The deep south? Mexico, home of all the job-seekers who do the jobs we won't?


36 posted on 01/18/2007 12:12:51 PM PST by Froufrou
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To: Safetgiver

No, I remember that, too. Reid, indeed!


37 posted on 01/18/2007 12:13:29 PM PST by Froufrou
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To: Incorrigible; qam1; ItsOurTimeNow; PresbyRev; tortoise; Fraulein; StoneColdGOP; Clemenza; ...
Xer Ping

Ping list for the discussion of the politics and social (and sometimes nostalgic) aspects that directly effects Generation Reagan / Generation-X (Those born from 1965-1981) including all the spending previous generations are doing that Gen-X and Y will end up paying for.

Freep mail me to be added or dropped. See my home page for details and previous articles.

38 posted on 01/18/2007 12:18:11 PM PST by qam1 (There's been a huge party. All plates and the bottles are empty, all that's left is the bill to pay)
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To: Red Badger
I don't plan on retiring. Ever. All the retirees I know get bored within a few months and want to go back to work somewhere. Anywhere. Golf and fish and travel are not what everybody thinks they are.......

A good retirement means..., doing what you want to do..., when you want to do it! Unless someone has an all-consuming hobby or personal pursuit (VERY difficult to do if it doesn't already exist), a balance of reduced work schedule and other activities is the ideal. I've known many people who, having retired, have no idea of what to do AND..., if they don't go back to work or develop an all consuming hobby..., they just DIE!

No matter what you think you would really "Love to do" in retirement (regardless of your economic status), reality will set in in short order!

39 posted on 01/18/2007 12:21:13 PM PST by ExSES (the "bottom-line")
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To: Ron2

If they would have done the SS program like FDR had planned it in the first place, it was supposed to be privatized. But once Congress got their grimy little hands on it, it got wasted.


40 posted on 01/18/2007 12:23:37 PM PST by buffyt (It is not a CHOICE ~ It is a CHILD!!!!!!)
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