Tuesday, December 28, 2010

Retiring Boomers

I saw this article today on the large swath of baby boomers who will turn 65 starting next month. The absolute number (10,ooo per day) is huge and the implications for the economy equally so. Everyone by now knows the story- the boomers spent too much, saved too little and made sometimes horrific life mistakes (jobs,divorce,investments,real estate ,etc.). The article ends by saying 40% of these "retirees" plan to work until they drop. I suspect the real percentage is close to double that figure.