By Larry Teren
According to remarks credited to the president of AARP, 10,000 people are turning 65 every day and that level will continue for the next 18 years. If people make it to age 65, they can expect to reach 82, according to the Harvard Health Letter. If they make it to age 85, they can expect to reach 90. Of all the people who ever lived to age 65 since the beginning of time, two-thirds are breathing right now. Continue reading “Baby Boomers are a Mixed Blessing to the Economic Recovery”
The Economy is on everyone’s mind more so than ever. We read and hear how things are getting better but Unemployment is still way too high and many are working jobs below their skill level and collecting pay that does not keep up with the Joneses. I have it on good word, though, that Mr. Jones has been out of a job for the last eighteen months as his wife tries to hold the fort down with her meager salary. Jonesy is thinking of asking about that greeter’s job opening at Walmart.
Around the beginning of this century, baby boomers figured we would continue to hold our own in eking out enough of a living to pay current expenses even if we were not putting much away for the future. We also figured that Social Security benefits at age 65 would help when we retired and that Medicare would take care of health payments for our old age ailments and drug prescriptions. But, of course, that all changed.
Continue reading “Is Social Security a Silver-Haired Lining?”