The most important economic charts in the world
2012 Jul 27, 3:47am 5,443 views 15 comments
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MisdemeanorRebel
2012 Aug 1, 1:28am
Good luck with that. Very,very few boomers have enough retirement savings to live off the income. They will be selling stocks and bonds out of their IRA's to buy food, clothing, and pay the rent. Even the defined benefit programs will have a substantial net outflow for a long time once the wave hits. It's not possible to avoid, the big pension plans all are counting on 8%+ returns. Not going to happen.
There are SOME boomers in good shape, but you're right, the majority has little to nothing to draw upon other than their house. Some don't even have that because they've kept pulling money out of their home.
We live in interesting times. I got out, Bob.
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http://www.businessinsider.com/the-most-important-charts-in-the-world-2012-7?op=1
It says to click through, but just scroll down.