[Logic n' Reason]

3. Baby Boomers and retirement
Baby boomers who’ve lost jobs in this period realize their chances of finding one last job before retirement, at their last income level, are extremely low. The “severance package” class of unemployed, and the employed but leery worker, will not return to their previous spending habits. Years ago, they were told to save long-term in the stock market through index funds and to dollar-cost average, to buy more real estate you they could afford because both stocks and real estate rise over time, to fund their retirement accounts and buy company stock, to trust municipal bonds, and they would be alright. Unfortunately, as they near retirement, too few baby boomers are alright.

Fits me to a "T". I was thrown out of work in July; severance just ran out. I am now living on SS and unemployment. Unemployment will run out next summer.

Somehow, I have to bridge the gap between being 63 and 65. At 65, at least I can take advantage of medicare/medicade (if it still exists.)

I have two realestate properties. Both are for sale. If I can sell both of them, I should be ok. If I can't, then I'll allow foreclosure to take over, rent a nice little apartment, and live out the rest of my life on SS and my "retirement" savings.

And I'm better off than most!

Consumer recovery???? Nope....not any time soon; probably not within my lifetime. And certainly not under the present islamic, muslim administration.

[Daisyjane69]

You’re not alone.

My aforementioned sweetie, hauling around his Master’s Degree, is now earning exactly 1/2 of his salary in 2007. He was laid off for almost all of 2008.

You have my heartfelt prayers. Hang in there.