Mish's Global Economic Trend Analysis: Boomers' Future Went Down The Drain: "The report details how the collapse has left the majority of those around retirement-age almost completely reliant on entitlements. The net worth of median households in the 45 to 54 age bracket has dropped by more than 45 percent since 2004, to just over $80,000. Households headed by those aged 55 to 64, meanwhile, have lost 38 percent of net wealth.
The result is that many baby boomers will only have entitlements to rely on in their retirement.”
Make that entitlements, roommates, and each other."
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Baby boomers had all that home equity and 401(k) accounts. Now they have their pensions and social security.
Hey, what do I mean, "they"?
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