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Sunday, February 20, 2011

Sleepshops for Boomers

Most of the Baby Boomers didn't bother saving for retirement. Apparently they were too young and cool and numerous for that.
The 401(k) generation is beginning to retire, and it isn't a pretty sight. The retirement savings plans that many baby boomers thought would see them through old age are falling short in many cases. The median household headed by a person aged 60 to 62 with a 401(k) account has less than one-quarter of what is needed in that account to maintain its standard of living in retirement, according to data compiled by the Federal Reserve and analyzed by the Center for Retirement Research at Boston College for The Wall Street Journal. Even counting Social Security and any pensions or other savings, most 401(k) participants appear to have insufficient savings.
I say we Logan's Run them. Stick a disc in their hand, and when the retirement money runs out, it turns black. After what they did to our generation, sleepshops are better than they deserve.

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