| Lately every so-called analyst has started to talk a | | | | concerns about the pension system and the looming |
| lot about the pending financial crisis in the retirement | | | | retirement crunch for Baby Boomers has almost |
| of the Baby Boomers. And the projections for the | | | | nothing to do with the present financial-economic |
| future look the same in all these "studies": when this | | | | crisis that started in 2008. |
| generation will begin to retire in mass, around the | | | | Many researchers were warning us starting from the |
| year of 2011, the pension system (Social Security) will | | | | late nineties and in the first years of this 21st century |
| collapse. | | | | - way earlier than we saw any crisis on the horizon. |
| There are some differences in the details, of course. | | | | Very respectable researchers told us that the Baby |
| Some people predict that the retirement benefits | | | | Boomers don't have enough savings for the |
| themselves will empty the coffers of the social | | | | retirement they dream about. Other researchers |
| security system in your country (no matter what | | | | analysed the demographic trends and came to the |
| they call it); others tell us that the Medicaid will | | | | conclusion there will not be enough money to pay |
| deplete the system and so on. There are also | | | | the retirement benefits for all the Baby Boomers. |
| differences when it comes about the year when the | | | | Unfortunately, nobody wanted to hear those news |
| state-run pension systems will become insolvent (or | | | | because we lived in a dream world. It is a well-known |
| bankrupt). Depending on who you are listening to, | | | | and established fact that we, the Baby Boomers, |
| you will learn that the "doomsday" comes in 2017, | | | | hate to face the reality of simple natural processes |
| 2024, 2032 etc. | | | | like aging and dying. We have never been ready to |
| The only thing they all agree upon - a pension crunch | | | | tackle those issues and postponed all the important |
| is coming... | | | | decisions until it was too late. We are now in that |
| However, if you are willing to dig a little bit deeper | | | | "too late" stage. |
| into the issue, you can easily discover that the | | | | |