Psychologically damaged baby boomers blame Millennials for all of the perceived ills in the economy including destroying dozens of industries.
The headlines continue to rail against young Americans as if they are the primary cause for many industries going under. Forget about the fact that companies like Amazon have shifted the way all Americans shop. The headlines blaming young Americans are getting to the point of ridiculousness. Baby boomers hold 50 percent of all wealth […]
The epic retirement crisis for older Americans: The median family of retirement age has $12,000 in savings.
Given the discussion of 401ks and IRAs you would think that most Americans have a nice nest egg ready to support them into their margarita drinking days on the beach. Yet like most dreams, the reality is very different. Most Americans are broke. The Economist put out some data highlighting that the median family of […]
Baby boom or bust: Retirement withdrawals now exceed contributions. Since 2008 US public debt up by $10 trillion, nearly the same as the Russell 3000 Index.
You knew it was only a matter of time before baby boomers started taking out their money from retirement accounts in mass. If you think boomers were rebalancing every year carefully, think again. We have now crossed an interesting threshold where retirement withdrawals exceed contributions. Part of this has to do with a younger and […]
The 401k has been a disaster for most Americans: Only 44 percent of private sector workers participate in a defined contribution plan.
Failing to plan is planning to fail. If this is true, most Americans are planning to live in retirement with very little money and are going to rely heavily on Social Security to get by. That is the case today where most retirees get the bulk of their income from Social Security. Back when the […]