Ferrari Mailing List: Re: Retirement

[Erik Nielsen (judge4re]

Rick:

Contrary to popular belief, the “average" American is by no means wealthy nor have they ever been.

https://www.census.gov/hhes/www/income/data/historical/inequality/table_IE-1A2.pdf

The statistics are pretty ugly if you start digging into the details, map disparities of cost of living based on geography on top of it, and its amazing we don’t have more rioting in the streets.  I’m guessing the boomers are going to do their best to pass us Gen-Xers the bill.  And with the majority of the wealth that does exist in equities or personal real estate, the question pops up, who is going to buy all of this stuff?  

Politicians are just salivating to get their piece of the action as we’re about to see the largest transfer of wealth in human history, the tax man is going to want his cut…

It is unsustainable, probably need a big smoking heap to reset the status quo, not sure when it will happen, but I would’t bet against it. 

Erik

On Nov 2, 2014, at 8:24 AM, Rick Lindsay <richardolindsay [at] gmail.com> wrote:

Hi Gang,

Just read that 1/3 of retirement age Americans have less that $1000 in savings! WTF? Walmart can't support that many 'Greeters'! And some how, its now my fault.

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