Early Boomers have reached Camelot for Retirement!

[whitestick]

Looks like many of the concerns expressed on some of these threads are overblown for the early boomers. Later boomers may still have problems.

http://finance.yahoo.com/focus-retir...-post-spending

[Notmuchlonger]

Huge business in getting boomers to have someone manage their money. I can see why financial companies want to drum up some worst case scenarios and use scare tactics.

[FinanceDude]

Quote:

Originally Posted by Notmuchlonger Huge business in getting boomers to have someone manage their money. I can see why financial companies want to drum up some worst case scenarios and use scare tactics.

Probably, but there's a lot of misinformation and downright cluelessness out there.

[whitestick]

Quote:

Originally Posted by Notmuchlonger Huge business in getting boomers to have someone manage their money. I can see why financial companies want to drum up some worst case scenarios and use scare tactics.

Which according to the article, says that early boomers have done alright. Of course the pensions, and 401ks have helped them be prepared. A refreshing change from the doom and gloom that is seemingly constantly reported by the financial press.

[REWahoo]

This same article was discussed in the Affluent Boomers thread a couple of weeks ago.

[whitestick]

Oops! Sorry! With a dateline of 1-11-08 I had assumed that it was fresh. Guess they rehashed that earlier article, and I missed or forgot reading about it in the Affluent Boomers thread. My bad.

he says as he slinks off, tail between his legs.

[REWahoo]

Quote:

Originally Posted by whitestick ...he says as he slinks off, tail between his legs.

Some of us have never done that...at least not more than a half-dozen times.

[73ss454]

Quote:

Originally Posted by FinanceDude Probably, but there's a lot of misinformation and downright cluelessness out there.

Isn't that what most advisers are looking for?

[FinanceDude]

Quote:

Originally Posted by 73ss454 Isn't that what most advisers are looking for?

What I was saying is that this board is a microcosm of the investing public, not a macrocosm..........

For everyone on here who takes responsibility for their own finances, there are 15-20 who don't, which leads to the "preying upon" by advisors.

I don't know how an advisor can help someone who makes a high income but lives paycheck to paycheck, or a middle or lower income for that matter.............

Last week, I met a guy through the Chamber. He's in his mid 50's and has $100,000 total in retirement assets, a big house and mortgage, and plenty of toys. He spends pretty much all he makes. However, he wants to retire in 6-7 years.......

Not much you can do with a guy like that until he changes his paradigm.........

[73ss454]

What I meant is that it's great for brokers that there are people out there that don't have a clue. I was one of them for many years until I woke up at a late age.

If people were paying attention I would guess most of the brokers would be in a different line of work.