Home Forums Hunting & Shooting Hunter's Campfire "Boomers" have dismal retirement investments.

Amen. I'm not concerned with how much others make, I just consider myself challenged and blessed every day...

Scott;
Hopefully you know me well enough to accept my most sincere AMEN to what you've written.

You have a gift for succinct communication that I lack. Well said sir.

All the best to you folks and good luck on your hunts this fall Scott.

Dwayne

Well,...one *major* reason why boomers don't seem to have much in savings is because when boomers hit the work force as young men in their 20's, $6.00 an hour was a decent wage.

The idea of saving $7000 a year when you're grossing $12,500 a year is ludicrous.

Inflation is the destroyer of savings.

Simply put, the money that boomers were making during their productive years has been reduced to chump change from the inflation which has occurred during the past 40 years.

Now,...everything they've got squirreled away can be eaten in one bite from any number of typical health situations.

There's no real security in money,...or anything else,....except what my tagline says.

I am a boomer, been debt free for years.
Managed to save a little and only pay cash.
Life don't suck!

Debt free here too.

But even that only provides day to day comfort.

There simply is no long term security offered by the world.

And furthermore,...you people who want to dog on the boomer generation need to learn to do it *right*.

Here's how it's done:

http://voxday.blogspot.com/2014/09/baby-boomers-graduated-from-high-school.html

Bristoe, your sig line says it all.

mike r

great thread

we've been lucky


yes we tried to create our own luck as others have mentioned, but I always tell folks one of my biggest challenges in day to day living is to be grateful "enough" for what we've been allowed to acquire.

been blessed in so many ways, and it could all go pretty much away overnite, or make what you have seem worthless.

millions in the bank ain't a whole lot of comfort for the loss of a loved one.

I wish all my campfire brethern the best in acquiring the material goods we desire.

but this place proves over and over again, your net worth has nada to do with your self worth or at least in my case your worth to our society.

clear eyes, decent health, a word that bonds and a firm handshake, worth more to me than all the moola.

but you guys get that.

And because you were wise enough to invest early you at least have a chance of dealing with your misfortune. Given this thread, most don't. Good on you and your family and my sincere thoughts to your youngest son in particular.

Obviously it was written in "today" dollars. Saving 7k a year (or 583 a month) is very doable with current wages. 12-15k would be a challange.

Wanna buy an annuity?

You have to be 80 and senile to be in that target demographic.....

PS, lots of people have taken a swipe at "boomers," and I happen to be one. No one I know in my age group has retirement savings that paltry. I'd love to see the stats for the younger wage earners, I'm betting they're worse.

What is that supposed to mean? Was it funny?

one of the things i have noticed through the years is as mama and papa who have been taking care of themselves all their lives start to get "help" from the kids when they realize what mama and papa have that haven't been taking those vacations and drive expensive cars.
And they start thinking maybe they need a "little help."

Bigwhoop & DeFlave: Travis, I retired at age 49 (18 years ago now) and I have been "livin large" (and VERY comfortably)
ever since!
A lot of folks who have known me, over the years, have relayed how they admired my work ethic, business decisions and my financial decisions and they have often relay how they are jealous of my lengthy retirement.
Those attributes and sacrifices are paying off well now.
I don't often (ever!) toot my own horn but when accosted I will defend same.
So, don't paint all us old foggies with the same brush.
I know MANY dozens of "baby boomer" retirees who are living EXTREMELY well.
Hold into the wind
VarmintGuy

Well apparently your children are different than mine ....see my post. Success is product of work and smarts...nothing more or less

And we don't drive expensive cars..dumb ass

touched a nerve, did I?
I wasn't mentioning my kids anywhere in that post. But I have been in the investment world in a retirement area since 1981 and have handled many many accounts for people now gone. And since you like the phrase dumb ass, I might mention that it doesn't always work that way with work and smarts, there are things like medical issues that blind side you, and it's always kind of handy to have a rich uncle that likes you. I would like to say differently but i have had heirs ask where their check was at before the donor had cooled off properly in the ground.

I guess I am a pre boomer. Those that think Boomers are socialist and liberals must have their head up their asses. I don't know one who isn't more conservative than 95% of the people on this forum.

The Boomers sure as hell didn't vote to put Obama in office. It was the young folks who drank the Koolaid of hope and change.

I have saved well, got hit pretty good with the 2008 disaster, but recovered somewhat. I have been retired 10+ years, have a pension that I contributed to, SS that I paid into and have not touched my IRA. That is all for my wife who is younger than I by a few years. I don't live large.

Let me guess? You handled their investments?.. All those folks with the "bad luck"? That's an unlucky coincidence.