Fed Chair Bernanke: Impending Baby Boomer Retirement Could 'Seriously' Weaken Economy

FOX ^ | 01/18/07 | Unknown

[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.

[SF Republican]

My Grandfather lived to 98, my Father is the youngest 80 year old I know. I plan on working a few years past 65 -'til 70 maybe. Fortunately (for me) not too many young'uns are going into insurance, and according to industry HR periodicals we will be facing a tremendous shortage of employees.

[Red Badger]

Pay it back with what? The government has no money except that which we earn, and they take off the top in taxes. The government is US...........

[Froufrou]

Red, you're scaring me! But hey, maybe our daughter can get her life underwriters license....

[Incorrigible]

Bernanke: Baby Boomers Hasten America's Descent To Heck!

:-)

[Renegade]

Boomers are the largest block of people that vote in the USA. They were FORCED to put $$$ into this dinosaur and they want it back. Any attempt to penalize that group will be political suicide .

[redgolum]

My parents have already planned on not receiving SS benefits. My Dad turned 65 last week, and plans on working 10 more years (not unheard of in my family).

Unfortunately, many retirees are going to find out that Uncle Sugar ran out of money.

[Red Badger]

Your daughter will be working two jobs just to pay all the Social Security Entitlements and Medicaid giveaways for the Boomers............

[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.......

[redgolum]

LOL! That is my father's philosophy, and was my grandfathers. When Grandpa turned 80, my uncle asked him when he would retire. "When I am six feet under"

Sadly, he got sick and had to.

[Froufrou]

It's true, I've paid in since I was 16 and that's a lot of moola multiplied by 78 million boomers...assuming we ALL have worked and paid into the SSA. I feel bad for the Gen. Nexters getting stuck with the tab.

[Froufrou]

We're pretty sure we'll have to keep working. We even bought a house on the gulf coast that we hope to afford even if there's no income but our 401K's.

[Red Badger]

I will work until I cannot. I'm not gonna sit around waiting to die. Besides, I'd have to be with my wife ALL DAY!..............

[Red Badger]

We even bought a house on the gulf coast that we hope to afford even if there's no income but our 401K's.

That will just about cover your insurance and taxes. Hope you plan on eating a lot of bologna and grits........

[JimFreedom]

I am retired and I can tell you I have plenty of things to do here in the sunny Caribbean besides fishing and Golf (which I do not care for). Many hobbies, painting, computer graphic art, music and so many books that I will never get to read them all,and from time to time I give a little advice to local business people, and then of course there is FREEPING, LOL!

Maintaining a house here keeps you physically fit as you must continually fight the sun and salt spray in the air and there is the landscaping chores.

I keep my mind quite active and my body too, retirement is what you make it. Our days go by all to quickly!

[PogySailor]

I worry that the grasshoppers are going to try and raid the ants savings.

[Froufrou]

Spam is cheaper than baloney, isn't it?

[Red Badger]

I suppose you're right. It is what you make it. But many, especially guys, have spent their entire lives doing something creative and constructive, "making a difference" and when they retire their whole world collapses within a few months...........

[Red Badger]

Not here.......there's always sardines and crackers......or potted meat and vienna sausages......