What happens when the Baby Boomers retire?
It's a good question, isn't it. How's that going to work, precisely? Possible consequences include:
- dramatic shifts in the real estate market as boomers start wanting to sell their McMansions and move into condos and assisted living homes,
- a huge stock market crash when this sizable cohort of people is forced to start selling their mutual funds/stocks/etc from their 401k/RRSPs at the age of 70.5/69 (depending on whether you are in Canada or the States)
- shortages of experienced workers/managers/professionals in the labour market
How can we predict what will happen? And how can we shelter ourselves from the potentially negative consequences?
It makes my head ache, but we all need to get a handle on it, lest we turn out like the grasshopper.
- dramatic shifts in the real estate market as boomers start wanting to sell their McMansions and move into condos and assisted living homes,
- a huge stock market crash when this sizable cohort of people is forced to start selling their mutual funds/stocks/etc from their 401k/RRSPs at the age of 70.5/69 (depending on whether you are in Canada or the States)
- shortages of experienced workers/managers/professionals in the labour market
How can we predict what will happen? And how can we shelter ourselves from the potentially negative consequences?
It makes my head ache, but we all need to get a handle on it, lest we turn out like the grasshopper.
posted by Aletha at 3:01 p.m.
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