Rags to Riches to Rags – What Can A Baby Boomer Do?
Wednesday, November 11th, 2009
The Baby Boomer generation is on the move… this time from rags to riches to rags. How in earth did we get there? Fact: Many Baby Boomers solely counted on retirement accounts to fund their golden years. In the last quarter those same retirement accounts dropped 50% of their value. What is left? Working longer or taking a new approach and working smarter.
The Baby Boomer generation is finding challenges that they never thought they would and are going from rags to riches to rags again.
Retirement accounts over half full last quarter – Great! Recently Boomer Retirement accounts have lost 50% of their value this quarter – Now what do we do!
Whew! How did I get there… let me bring you up to speed. This generation is becoming one of the fastest growing segments of our population which will put a tremendous strain on Social Security and any retirement system. At the height of retirement there will be fewer workers contributing to those programs then the actual number of Boomers drawing from it.
