Just an average Gal, older mom, trying to live a simple life & what happens along the way.
This video is very interesting. I have to agree with him on most of it. Unless you stayed out of the stock market until the '90s or made and hung onto large salaries(or were with one of the few companies that continued to offer pensions)you'd be among these people.
Tell me what you think.
Sluggy
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I didn't watch the whole video. I am a boomer and retired at 64 and have a pension from working 35 years in education. Thank goodness. I wish all the best to fellow boomers.
ReplyDeleteSorry. Now I can see it.
ReplyDeleteI agree with the author's premise but I wouldn't call us broke. I experienced everything he stated. He forgot to mention the Stock Market Crash of 1987. Nor did he touch on the current 30% inflation. It was always advised to prepare upon retirement for 3 to 5% inflation!! That's when I realized investing in the stock market wasn't such a great idea, back in 1987. I saw too many people lose thousands of invested dollars. Now, in 2025 they have come to the realization that putting your money in an interest bearing CD or MM account, and having the interest compound 20-30 years is probably the best retirement plan ever. Everyone laughed at me when I did it. Not laughing so much anymore. So, we aren't so broke. However, what no book or investment advice failed to state were the high costs of property taxes. Should a boomer own their own home outright by the time they get to 65, they might not be able to afford the higher school & property taxes. Now, that is going to cause many boomers to go broke and/or become homeless when they can no longer afford to keep up their homes! Nobody thought of that back in the 70s or 80s. As the author states, no plan is good for lasting 25 years or more. Personally, I think there is no such thing as retirement anymore. You work till you drop dead. Period. That's the new plan. Cindy From The North.
ReplyDeleteIt started squirreling money away ever since I started working (30yo). So far it looks 'enough' whatever enough means. I don't count the SS, which ought to be a nice amount if I can trust it to be there.
ReplyDelete