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An older person showing off their money. The Baby Boomer generation was in their peak working years when the U.S. Dollar had its strongest purchasing power. In 1968, the federal minimum wage was ...
The anecdotes are backed up by research. Early on, Walton cites a study from two psychologists that looked at the experiences of 1,500 retirees and 400 people of the same age who were still ...
By the early 2000s, the Baby Boomers reached middle age and were starting to save for retirement, though not necessarily enough. Seeking to increase their income and thus savings, many started investing, pushing interest rates to the floor. Borrowing became so cheap that some investors made rather risky decisions in order to get better returns.
The anecdotes are backed up by research. Early on, Walton cites a study from two psychologists that looked at the experiences of 1,500 retirees and 400 people of the same age who were still ...
"The 401(k) transition looms large for Gen X and working baby boomers, and many working Americans have taken a long time to adapt to the new retirement system—some too long," Goldman's report notes.
In 2014, 20% of adults in their 20s and early 30s were residing with their parents, which is twice the amount of the previous generation. [26] Though there are many reasons cited for the need for parental support, one of the greatest contributing factors is said to be student loan debt. 45% of 25-year-old college graduates currently owe $20,000 ...
Retirement planning has evolved, and strategies that worked for baby boomers may no longer be effective for others. With fewer company pensions, rising interest rates and shifting economic...
Read more: 'Baby boomers bust': Robert Kiyosaki warns that older Americans will get crushed in the 'biggest bubble in history' — 3 shockproof assets for instant insurance now Avoid the mortgage