[ 2021 ] Baby Boomer Retirements Causing Labor Shortage?

[pedro47]

View attachment 118342

https://www.msn.com/en-us/money/new...eir-kids-are-unlikely-to-catch-up/ar-AA1QETYf



"The wealthiest generation holds more than $85 trillion in assets, thanks to economic conditions that succeeding generations would be hard-pressed to replicate.

"The reasons come down to timing and time: Americans 75 and older bought homes and invested in stocks well before such assets exploded in value.
“It’s astonishing how their relative wealth has taken off in the last 30-plus years,”
The wealth of baby boomers is a reflection of the uniquely favorable economic conditions that occurred during their working lives, especially those in retirement

"Good economic conditions Baby boomers “entered the labor force during decades of strong economic growth, rising productivity and relatively high
real wages,”

"Some older boomers benefited from having access to defined benefit pension plans, many of which were phased out in the private sector in the 1980s as tax-advantaged 401(k)s became commonplace. The rise of such employer-sponsored retirement plans also drove up baby boomers’ stock holdings. Today, about half of baby boomers’ wealth is tied up in cash, bonds, stocks or mutual funds held directly or through retirement accounts, or other financial holdings,

That is an excellent article l

 

[Timeshare Von]

That is an excellent article l

Yes . . . very well written. I feel fortunate to have been a successful boomer . . . and able to fully retire at FRA (66.5) back in May 2024!

 

[Ralph Sir Edward]

Certainly a well-slanted article. No mention of the massive inflation of the 1970's and into the 1980's. Or the economic bust of the oil industry during the 1980's. Or the average wage during that time period, compared to today.

 

[WaikikiFirst]

Certainly a well-slanted article

we can say the same thing about almost every single article he links. They are almost all a cretinous combo of editorial and dreadful use (understanding?) of #s ... economics ... reality. We'd be like 1-armed paper-hangers pointing out the nonsense in all of them.
I don't need to read the article. I can prob write a 4 paragraph summary of it for school and get an "A", just by knowing
a) who linked to it
b) the title
c) your reply

 

[Tia]

Baby Boomer Retirements Causing Labor Shortage?​

A topic revived I notice. I retired after I quit due to poor manager and exec level pushing a great department into the dirt imho. Other half still does a little, but foreign workers are big in his former occupation . Both our fields have been manipulated by wanting cheap labor or do more with less staff imho.

But we have done okay I hope/think. Better then our parents. I was investing in early 80's into a Money Market that was paying great interest rates! Then into the Vanguard 500 after reading Money Magazine on an airplane to vacation. Our two houses appreciated , the second we are in now. Current house has more then doubled , but it's been nearly 30 years. Not sure where we want to retire so not selling our current house. Both our grown kids live out of state in . One is making more then either of us ever made combined, not in what the college degree was in. The other is working a 40 hour week in the health care substance rehab industry business development but looking to advance into ?

We didn't inherit assets from either side, like many we know have.

 

[Brett]

That is an excellent article l

Yes . . . very well written. I feel fortunate to have been a successful boomer . . . and able to fully retire at FRA (66.5) back in May 2024!

Yes, keep in mind "unsuccessful" boomers would not appreciate it (and younger generations)

Just read some of the Reddit forum comments on this article -- !!

.

https://www.reddit.com/r/Economics/comments/1p0nf42/how_baby_boomers_got_so_rich_and_why_their_kids