[quote=bearishgurl]
I don’t see a terrible catastrophe on the horizon with boomers being able to retire. Like myself, most lived below their means (during some periods of their life FAR below their “means”) in order to amass savings.
[/quote]
I think you might be projecting your own habits and frugality onto the boomer generation.
I seem to remember boomers as the “me” generation in the 70’s and the “greed is good” generation in the 80’s.
“Baby boomers — those born between 1946 and 1964 — have been described as “the pig in the python” and the “sandwich generation.”
They lived well, grew up in relative abundance and, some say, expected their Social Security, health care and government support to be there as they grew old.
Baby boomers grew up during relative prosperity, from the economic boom of the post-World War II ’50s to the “Me” generation of the ’60s through the lucrative uptick in the Reagan ’80s. And then there were the budget surpluses they enjoyed during the Clinton ’90s.
As a result, many were able to buy second homes, take out loans at low interest rates, buy cheap gas and pump money back into the economy.
