For boomers, it’s a new era of ‘work til you drop’ | HeraldTribune.com
I previouy posted an article discussing how Generation X was facing a much tougher financial future than Baby Boomers, because student loan debt and underwater mortgages were creating insurmountable debt before the person is even established in life. That article indicated that the Boomers’ net worth was significantly more than the Gen X’ers, who most likely would have negative net worth for the foreseeable future.
This article discusses the economic downturn from the Boomers’ point of view. While the older generation may not have a negative net worth, their ability to retire now, if at all, has been taken away. The Boomers havn’t been hurt as much by debt, but by a loss of retirement income that they have worked their whole lives to accumulate.