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Author: OldOne Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75627  
Subject: Re: Don't worry about boomers killing the market Date: 8/1/2006 11:03 PM
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The future is indeed bleak for retirees. I think the final blame should go to the government

I will turn 61 in two weeks.

From the time I started to read "adult" (intended for adults, not XXX) periodicals, say age 15 or 16 until today, I can remember reading articles on the coming problems with Social Security and future retirement problems. Sure, they were not as frequent as the ones we see today, but they were there.

Remember, most of the baby boomers were alive in 1960, and it was just as easy to make projections then as it is now.

Of course, back then we didn't have the internet, since Al Gore hadn't invented it yet, and I could convince myself that it was just plain impossible for an ordinary person to save enough for retirement.

In my early 40s I convinced myself that I had been wrong, and I had better start doing something about retirement. The thing I did differently than allthe LBYM folks, is that I decided the way to go about this was to earn more money rather than to live on less, and I developed a sideline. Well, that has paid off and I am now ready for retirement.

Why the "blame should go to the government" is a complete mystery to me. All of the information has been there for everyone to see for the past 40 years. Many of the articles I read said the same thing, essentially, the government isn't going to do this for you, you have to do it yourself.

What ever happend to the idea of taking care of your own problems?
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