Summary: Two new reports warn us about the predictable but so far ignored consequences of so many Boomers’ retiring with low savings, no pensions (other than SS), large debts — and long expected lives ahead. Unless we act, the effects will prove painful for not just them — but also on asset prices and US …
Poorly prepared Boomers retiring means hard times for them and for America Read More »
Summary: Lost in yesterday’s festival about the latest meeting of America’s central planners (wielding tools that Kings of the pre-modern world would envy) was a small article in the Wall Street Journal announcing that we have passed a small milestone on the road to a harsh future. {1st of 2 posts today.} America passes …
We passed a dark milestone: more money came out of 401(k)s than went in Read More »
Summary: The Boomers have begun retiring. They’ll inflict economic stress on America in ways few expect, and so for which we’ve not prepared. This post looks at one such, the long headwind to economic growth created by their falling spending. {1st of 2 posts today.} Contents The Age Wave. The Boomers’ retirement is coming. Conclusions. …
As boomers retire they create a drag on US GDP that will last for decades Read More »
Today’s revelations of the blindingly obvious: Poorer workers are more likely to cash out 401ks when losing their jobs than are executives and professionals. Yet both groups eat, live in shelters, and so forth! The research: “Nearly Half of U.S. Employees Cash Out Their 401(k) Accounts When Leaving Their Jobs“, Hewitt Associates, 28 October 2009. These consultants …
Study proves that American workers are foolish, but the rich are not Read More »
