Tuesday, December 28, 2010

Baby boomers face going bust in retirement

This article was in the Review Journal, but I could not find the link so I used this one. It points out that many have not prepared for retirement and states,
"The situation is extremely serious because baby boomers have not saved very effectively for retirement and are still retiring too early," says Olivia Mitchell, director of the Boettner Center for Pensions and Retirement Research at the University of Pennsylvania.

In another Review Journal article which is on the same topic, it states,
The oldest Baby Boomers turn 65 on Jan. 1. Then, each day of 2011 and for the next 19 years, 10,000 more will turn 65

This article points out surveys which show that the baby boomers are pessimistic about our county and the economy.

Unless the government reduces spending and eliminates regulatory agencies, we will have big financial problems.

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