Economic fears over baby-boomers haven't come to fruition


Locutus
#1
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Charles Adler ‏@charlesadler (external - login to view)

Remember the Paranoia about Retiring Boomers swamping the Health Care System. NOT in #Alberta (external - login to view) where 60 is the new 40

Its been a nice surprise.

For the economy, business, government, the stock market, for the country itself.

The worry about a tsunami of penniless retirees descending upon the social assistance safety net and the health system is quickly diminishing.

Of course some baby-boomers continue to work out of necessity i.e. they need more money.

But so many of the post-60 crowd are healthy, mobile, have positive attitudes, sufficient pensions/savings and choose not to retire!
At least not entirely.

To the relief of Alberta companies needing all the skilled personnel they can find, large numbers of retired 60-to-70 year olds have no problem going back to work.


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Hicks on Biz: Economic fears over baby-boomers haven't come to fruition | Hicks (external - login to view)
 
taxslave
No Party Affiliation
#2
Lots of grey hair whereI work. But then we are all here for the money. Unlike my neighbours who retired at the earliest oportunity thinking they were beating the system sonehow and have now discovered they can't afford to be retired. Still have a mortgage too.
 
JLM
No Party Affiliation
#3
Quote: Originally Posted by taxslaveView Post

Lots of grey hair whereI work. But then we are all here for the money. Unlike my neighbours who retired at the earliest oportunity thinking they were beating the system sonehow and have now discovered they can't afford to be retired. Still have a mortgage too.


Unless I pay extra money on it my mortgage won't be paid until I'm 91! But hey, how many people get to use other people's money at 21/2%? -
 
tay
#4
Quote: Originally Posted by JLMView Post

Unless I pay extra money on it my mortgage won't be paid until I'm 91! But hey, how many people get to use other people's money at 21/2%? -





I'm old enough to remember high teen mortgage rates.


I don't know how old you are but even if you are 50 that sounds like a huge mortgage.


If you have a mortgage paid off for when you want to do something you have always wanted to do besides your job, you will be much happier than having to deal with a 16% rate.


Cash is King and always will be......
 

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