69% of Boomers Can’t RetireThat was the sidebar statistic (p. 30) in the Aug 2, 2009 issue of Business Week Magazine. The number seemed high to me. So I went searching on the internet to find out more. But I kept finding references to out-dated studies, such as the following from 2008: …a recent McKinsey & Co. report, nearly two-thirds of Early Boomers – who are aged 54 to 63 – are financially unprepared to retire. So what’s the real number, and does it matter? If one is already retired, then the number matters hugely. If most boomers are unprepared financially, then they will have to continue to work, which is A Good Thing (AGT). Their earnings will help prop up the Social Security payments already being made to us retirees. Also, if the majority of boomers can’t retire, that suggests they are not pursing effective investment strategies. The more dumb money there is in markets, the easier the pickings are for The Smart Money. So, that, too, is AGT, if one is TSM. How does one get to be The Smart Money? Well, two ways suggest themselves. One could have been born a smart investor, such as George Soros seems to have been. Or one could study hard and try to learn what Smart Investors already know. Fortunately, those who frequent this forum have been blessed with a wonderful short-cut to investment success, the legendary Bond FAQ, claimed by a knowledgeable insider who had a hand in its creation as being the single best source of information on fixed-income there could ever possible be. Written by a team of fixed-income experts, all of whom were to modest to sign their articles and all of whom would be happy to publish their track records as proof of their investment success, the Bond FAQ will answer all questions anyone could have in a clear and authoritative manner. (At least, that is the claim that is made). So, hop right on over to the right hand side of this column and read your way to investment and retirement success. You wouldn’t want to be one of that 69% who couldn’t retire, would you, all for lack of a bit of reading? Postscript: If you are too dense to recognize gallows humor when you see it, I’ll spell out for you the moral of the proceeding. The Bond FAQ is a dangerous piece of trash. If you’re stupid enough to believe the claims it makes about how fixed-income markets really work, then you deserve the low rates of return you are achieving, as you inappropriately use short-term cash-management tactics in place of sensible, long-term investment strategies. This investing stuff is for real, folks, and you had better decide quickly between the posts of someone who actually knows what he is doing in the fixed-income world and those of his critics. You might not like what I say or how I say it, but on a one-to-one basis, I have proven that I can kick their butts up and down the hall in terms of delivering repeatable, reliable, risk-adjusted, real rates of returns. Can my competition show you how to achieve the rates of return you are likely to need if you want to retire? Or is the goal of a comfortable, well-funded retirement just sour grapes for you? My suggestion is this: You had better get your heads out of the sands of principal-protected instruments and start doing some real investing, or you’re going to be one of the 69% who can’t retire (or who does retire and ends his life in poverty). The choice is yours. But no further questions will be taken at this time. Thank you.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra