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In a way though this fucks boomers pretty hard, if they didn’t invest very responsibly and have their money out of stocks in time. The stock market is down 20%
by paulmd 4y ago
In a way though this fucks boomers pretty hard, if they didn’t invest very responsibly and have their money out of stocks in time. The stock market is down 20% this year and unlikely to recover (if you believe the idea of the article) let alone return to long-run >10% growth like previously.
Similarly we may be heading for a housing price crash at some point and that kinda screws boomers who hoped to use it as a piggybank.
None of this in any way offsets the incredibly sweetheart deal that boomers received and then voted to deny to future generations, however. Almost free college, houses that pentupled in price, a stock market that averages 10-11%, generous social benefits, etc.
- arrrg 4y agoThat doesn’t really make sense. If someone born in 1955 who started working in 1980 and then started saving money and investing into a diversified stock portfolio the current downturn sucks but isn’t the end of the world. Plenty of time in the market. Sure, it always sucks if you are entering retirement when there’s a downturn (which someone born in 1955 would do right about now) but I wouldn’t even see the point in completely pulling out of stocks now. I would say that if the prediction that returns will be lower in the future is true then this sucks for everyone not entering retirement right about now. They still need and want time in the marke