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05-21-2013, 07:13 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Aug 2012
Posts: 1,862
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Born after 1955?
I was, DH wasn't. I'll piggyback off him. As he would say, "So what's new?"
PLANSPONSOR.com - Early Boomers Last to Retire Comfortably
Quote:
Early boomers, born between 1946 and 1955, may be the last group with enough savings to maintain financial security through their retirement, according to a study.
The study, “Retirement Security Across Generations: Are Americans Prepared for Their Golden Years?,” from Pew Charitable Trusts, examined the savings behavior of five age groups before the Great Recession. It also explored how wealth losses during the recession affected each group’s retirement security by calculating replacement rates, or how much annual pre-retirement income households will have available to spend after retirement.
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05-21-2013, 08:34 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Mississippi
Posts: 1,894
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Hard to accept some of blanket generalizations.
While all generational groups had wealth losses in the Great Recession, Gen-Xers took the hardest hit.
I didn't loose any wealth. Really depends on what you did and what you invested in.
At the median, Gen-Xers will have enough resources to replace only about half of their pre-retirement income and late boomers will replace about 60%.
It's been said before, it's not about replacing your pre retirement income but about covering your expenses in retirement. Can be a lot difference in those two things.
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05-21-2013, 09:36 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 6,499
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1947. I'm in. Oh yeah, I'm already retired and comfortable.
__________________
There must be moderation in everything, including moderation.
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05-21-2013, 10:47 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,204
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Wow, DW is going to be steamed. I'm an early boomer barely (last group) and she just missed, she's a late boomer...
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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05-21-2013, 11:09 AM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,682
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Not me. While I am technially a late boomer (born in 1963), I consider myself more like a Gen-Xer because my dad was not old enough to serve in WWII.
I have been retired for 4 1/2 years so I am plenty wealthy (including more wealthy than in late 2007) to cover my expenses. So I give the article a big raspberry LOL!
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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05-21-2013, 11:29 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Mar 2012
Posts: 1,555
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Oh darn. I missed it by 19 days...
__________________
"Growing old is no excuse for growing up."
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