Comments on: The Future Of Our Economy http://www.drinkingisbelieving.com/2007/12/13/the-future-of-our-economy/ The party doesn\'t have to end! Thu, 04 Dec 2008 04:16:52 +0000 http://wordpress.org/?v=2.2.3 By: john the greek http://www.drinkingisbelieving.com/2007/12/13/the-future-of-our-economy/#comment-38 john the greek Wed, 19 Dec 2007 17:02:25 +0000 http://www.drinkingisbelieving.com/2007/12/13/the-future-of-our-economy/#comment-38 The time is coming when all hell will break loose. What is most troubling is how everything (economic issues) will be compounded due to baby boomers. Let me explain. The immense number of soon-to-be retirees are counting on their retirement savings. Many of them have invested in real estate after losing out during the tech bust in the late 90's. I personally know people who have lost upwards of 70% of their investment because of heavy concentration in growth stocks. Anyway, many aging Americans began banking on the surge in real estate value. With such a bleak outlook on the real estate market, what are the other options to safeguard their nest eggs? Well, they could sell their properties (if there are any buyers) and pump up their 401Ks or other IRAs. With many experts predicting a recession soon, this option seems like a bad idea. We know that social security is actually the opposite of what the name suggests. SS will not have funds for the next generation of retirees. Even for the boomers, SS alone will not be enough. If Baby Boomers do not have enough to retire on due to market losses, everyone else in the country will feel the after effects. All anyone can do is be hopeful, hopeful that people start changing their spending habits and hope that someone can come up with the miracle cure for the economy. With a little Kool-Aid, its easy to stay optimistic. The time is coming when all hell will break loose. What is most troubling is how everything (economic issues) will be compounded due to baby boomers. Let me explain. The immense number of soon-to-be retirees are counting on their retirement savings. Many of them have invested in real estate after losing out during the tech bust in the late 90’s. I personally know people who have lost upwards of 70% of their investment because of heavy concentration in growth stocks. Anyway, many aging Americans began banking on the surge in real estate value. With such a bleak outlook on the real estate market, what are the other options to safeguard their nest eggs? Well, they could sell their properties (if there are any buyers) and pump up their 401Ks or other IRAs. With many experts predicting a recession soon, this option seems like a bad idea. We know that social security is actually the opposite of what the name suggests. SS will not have funds for the next generation of retirees. Even for the boomers, SS alone will not be enough.

If Baby Boomers do not have enough to retire on due to market losses, everyone else in the country will feel the after effects. All anyone can do is be hopeful, hopeful that people start changing their spending habits and hope that someone can come up with the miracle cure for the economy. With a little Kool-Aid, its easy to stay optimistic.

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