Posted on 02/25/2009 2:51:33 PM PST by Lorianne
“these households will enter retirement with little wealth beyond Social Security”
I think that has been the plan all along.
I wouldn’t exactly term Social Security benefits as “wealth” either.
Prepare to work till you die, slaves!
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My life savings have been cut in half. I’ll be working until I drop dead.
How many different ways can you say ‘We’re Screwed’?
And, without any thanks from the freeloaders benefitting from your hard work.
Wij worden geschroeft.
Nous sommes vissés.
Wir werden geschraubt.
Βιδωνόμαστε.
Siamo avvitati.
There are others.
Me too, austingirl. I am slowly starting to get my head around the idea that I need a new game plan. And I fear I may lose more in the coming months and years.
Boomers, who at their age are nearing retirement, should never have been heavily invested in the stock market in the first place. The first rule of retirement planning is to decrease your risk as you get older. I’m sorry, but I have no sympathy for a 65 yr old boomer who lost money in the stock market and whose house, once valued at $500k, is now only valued at $400k.
how about babelfish?
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.
Yup. Investments down 50%.
Don’t need any sympathy. Lost lots of money in the market. Money I wouldn’t have had if I had invested in anything other than stocks. Since 1984. I’m still up 5X in some of the early money.
Yep, I’m down about 43%. Did some money-moving last year (and paid through the nose to the IRS) but it was a good move even if it didn’t look like it at the time. Basically there’s nowhere to hide anyway.
My husband works for the state of Alaska and he has no choice in his retirement plan except to invest in the stock market. Money is automaticslly taken out. I’m sure there are companies that do the same thing. The money can’t be taken out unless he quits or retires.
I have always planned to go on working till I drop.
Now I have another reason to add to my original reason:
Retirement and idleness kill.
No “God’s Waiting Room” for this boomer.
Without being invested there is no hedge against the killing effects of annual inflation.
Having the same amount of dollars year after year, post retirement is a guarantee to die poor.
But die you will none the less.
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