Baby Boomers are Poised to Create the Greatest Depression in History

[wategos]

Those same people's 401Ks will be so depleted now that drawing out the final dregs wont make much difference to the overall economy.

Why would 401Ks be depleted? Balances are actually at record highs.

 

[Angel]

There is a possible wave effect of neg sentiment that could flow around a number of other Countries - here one of them?

Sentiment is a very real intangible.

True, very true. We cannot control other people's sentiments, but we mustn't let their negativity lower our own. Be cautious and thoughtful, yes, but not overwhelmed and swamped.

 

[Angel]

Why would 401Ks be depleted? Balances are actually at record highs.

I'm sorry, I had no idea. In many cases in Oz superannuation funds took a beating and are only just returning to pre GFC balances. If I remember correctly Kyosaki compared our compulsory Super funds to 401Ks in his book and suggested the same result would apply to both. Of cause one major difference is that we are not obliged to withdraw our funds once we reach a certain age, the primary fear engendered by Kyosaki in his book outlining the benefits of property investment over stocks.

 

[kathryn d]

I'm sorry, I had no idea. In many cases in Oz superannuation funds took a beating and are only just returning to pre GFC balances. If I remember correctly Kyosaki compared our compulsory Super funds to 401Ks in his book and suggested the same result would apply to both. Of cause one major difference is that we are not obliged to withdraw our funds once we reach a certain age, the primary fear engendered by Kyosaki in his book outlining the benefits of property investment over stocks.

Currently in Canada (they are called RRSP) we are required to withdraw a certain % starting at age 71, and must be depleted at age 90.

Contributing to a RRSP is voluntary.