Reposted w/permission: A Matloff email....
russell.martin at mail.wdn.com
Fri Jun 19 10:35:52 EST 1998
Richard Ottolini wrote:
> >: Thanks for posting this very interesting article. On one hand
> >: we will be required to work until we are 70 to get Social Security
> >: while on the other companies won't hire us after we reach middle
> >: age. Should make for some "interesting" times as middle aged street
> >: people. Anybody else out there think that things are getting just
> >: a little screwy in the U.S.?
> An interesting (non-scientific) retirement poll in the online USA Today
> a couple days ago found about 60% of the respondees plan to retire
> before 60. Most people therefore aren't planning to wait to official
> retirement age, but then again reality bites.
> Another interesting statistical contradiction is that the stock
> market is porking out from a wash of boomer retirement savings,
> yet the government claims the US savings rate has never been lower.
> How to reconcile this?
I don't now how to reconcile it, but I'll tell you how to make money
from it. Since baby boomer retirement money is pushing the market up
now, I'm going to short the market in 20 years when the boomers start
taking money out big time. We could be in store for one of the worse
bear markets of all time.
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