Contrary to what the title of the article states, I doubt that America is bracing for anything much, let alone retirement of Baby Boomers. But as Breitbart reports, that may just mean we get blind sided. If you don’t have a second income stream already, it’s time to get one up and running. Here’s why…
On the economic side, some fear the “silver tsunami” will drain the country of its wealth, but Baxter says the United States has some advantages.
“It’s true that everything in our society is built on the idea of continued growth, it’s kind of a giant Ponzi scheme with every generation prior to this one having given birth to a larger generation,” he said.
Funny, I’ve heard of Social Security equated to a “Ponzi Scheme” but never the entire American economy though.
But think of it… did the stock market rise for a generation because things were so wonderful or because there was a growing heard of customers who bought so much that, overall, even idiots could stay in business and prosper.
Now that they’re retiring and cashing in their stocks and bonds often times, will the gusher of equities for sale at one time for a prolonged period of time be more likely to make their overall value of the market increase or decrease? So what will that do to returns on retirement plans for the 401k generation?
The blow will be cushioned by these folks remaining employed…
It will all be very interesting. At least the US doesn’t have quite the demographic and legal problems (i.e. mandatory retirement ages) that Europe has.
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