a concern is Boomers on Savings Binge for next 20 yrs
will it happen?
they (we) have set the trends for 40 years
or trends have been set with them (us) as focal points
e.g. cameras, books, health, diets, cars, exercise, stock portfolios, stuff trappings
now Boomers are coming to stark realization
most have insufficient savings to retire with comfort
if they begin a new trend of "Savings is Cool" binge,
then it could mean trouble with a consumption oriented economy
not sure how they will deal with
or will they buckle down & focus on protecting their retirement years by staring their current fears & foes in the face & getting the job done now?
dealing with it MIGHT mean spending much less, saving more,
and avoiding frivolous things like a new stereo every two years, a second sports car, that cool motorboat, annual trip to Aspen or Europe, swimming pool, house extension for a TV set, nifty jewelry, designer PC's, 4 dinners out per week, and keeping up with Joneses generally
we will see
but my guess is this shock wave has been a huge splash of water on the face for millions of Boomers
like me, they realize retirement is NOT a given
and continuing on current path MIGHT not get us there
I expect my Social Security to pay the rent, hardly more
/ jim |
