Medicated Money

Friday, March 17, 2006

Are You Scared?

"The only thing we have to fear is fear itself" -FDR

We really enjoy reading Ben Stien articles on Yahoo Finance. Every 2 weeks, Mr. Stein is writing about a financial topic that in our opinion is current and worthwhile. This past week, Stein wrote an article about the probable grim truths of baby boomers and retirement. Until recently, we never really worried about situations like this that he describes. We figured that we could start saving for retirement in our 40's, maybe if we started early, 30's. After reading this article, I know that we are definitely scared, but not for the same reasons those might be in their 40's or 50's.

Our concern is with many Americans not having enough to live on retirement, what is going to happen to our society? With such a large voting block being the baby boomers, will Generation X'ers & Y'ers be footing the bills? Stein is in the believing that nobody (especially the government) will be there for you! I do agree with this statement, however, with a society that teaches spend, spend, spend, eventually the piper must be paid. The question is: who will be making those payments?

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