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Bad news for baby boomers

July 14th, 2010 at 03:34 pm

No spending today or yesterday.

I heard that 64% of baby boomers are not ready for retirement -- that they will, on average, run out of money in two years' time.

I don't want to be one of those, so I'm back to serious penny-pinching. On my ride home from work, I didn't even turn on the AC. Then I picked up a book from the library, which will be my entertainment for a few days. Tonight I'm having a salad for dinner, and I will till all the lettuce is used up. No more wasting!

Tomorrow is payday, and I have $416 left in checking to transfer over to savings. I think I'll round it up to $450 when my deposit hits the bank. I think I'll make it a rule to always round up to the nearest $50. I do love my saving games.

I've been saving $5 bills for Christmas, but since I'm not much of a cash spender I only have $105 so far. Maybe I should start saving $10's.

I finally have a date for the shower (for my DIL to be). September 11! Kind of an infamous date, but it works. Now I'll get to work planning. I have enough time to be creative and throw a nice party for not much money.

Sad news from my son -- he had to return his shelter dog. Apparently the dog's life had been so traumatic before they adopted him that he couldn't overcome his fear and consequent aggression. He seriously frightened my DIL -- cornered her with bared teeth and hackles up -- and he is a big dog. I am so sad for all of them, but I know you can't live with a dog you fear.

8 Responses to “Bad news for baby boomers”

  1. My English Castle Says:

    My second quarter 401K statement was pretty awful, so I feel right in line with my generation...

    Good luck with the shower!

  2. Indiana Senoir Says:

    The boomers are a strong generation, if anyone can make it work, it's them. As for me, I just won't ever fully retire. It will just be my "hobby".

  3. Joan.of.the.Arch Says:

    I do not share Indiana Senior's optimism. I think a lot of baby boomers are going to need help from children, charity, and even government.

  4. dmontngrey Says:

    Not looking forward to my mom retiring AT ALL! Oh shoot, you just reminded me I ordered a little booklet on retirement planning and I have no idea what I did with it. Need to find that asap. My mom will be 62 soon and already feeling the pressure of folks telling her she should retire. She DESERVES to retire! Ugh. This is someone who can't make it paycheck to paycheck, blows her money on who knows what, doesn't know how to stock up on sale and gets stuck paying when she needs to buy, etc, etc. Frown
    I will not step in and help. She burned me too much in the past and will not listen to me. She wants to have FUN, not be responsible. It's not going to be pretty.

  5. My English Castle Says:

    I love the "deserve" to retire part. Retirement is a very recent innovation. I'm with Joan, I don't think the boomers are all that smart or tough--and I'm one of them!

    Now those depression-era greatest-generation types--they were tough.

  6. CB in the City Says:

    I think we boomers may have to learn how to be tough -- just like the depression-era folks had to -- interesting years ahead when we all retire and start depleting social security.

  7. Joan.of.the.Arch Says:

    CB you already are tough, and appropriately so. You seem like a balanced, cheerful, wise, able to plan, cope, and adapt person--a person who gets a lot of satisfaction out of life. Are you blushing yet?

  8. CB in the City Says:

    Indeed, I AM blushing. (Wait a minute, maybe that's a hot flash?) Thanks, Joan.

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