[quote=earlyretirement]
But honestly, I don’t think it’s wise for anyone to plan on the Generation X & Y groups overall to be retiring with high net worths and in many situations ANY net worth.
I do agree that it’s important to “live” while you are young but not at all costs. Too many of the X & Y have the “live for today” attitude. It might be fun to enjoy that attitude when you’re in your 20’s, 30’s 40’s or even 50’s but quite another when you are in your 60’s, 70’s, 80’s or even 90’s with limited means and no savings.[/quote]
I honestly think going forward many boomers and even current retirees aren’t going to be retiring comfortably. I personal think comfortable retirement for the masses was an odd anomaly that only worked because the parents of the baby boomers decided to have a bunch of kids along with the competitive advantage the US enjoyed after WWII.
Retirement is going to be reserved for the upper echelons of society. Maybe the top 20% can retire comfortably and the next 20% might be ok provided a frugal life style. The rest will be fighting over scraps at least until they vote to go hard core socialist in the name of fairness.
