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Thread: Boomers are starting to retire

  1. #1
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    Default Boomers are starting to retire

    Ok, so I'm sure everyone has heard this before, that at every stage of their life everything the baby boomers have touched has exploded in growth. For the last 10, 15 - 20 years or so the big push has been the boomers are planning for retirement and financial services have been loving it. In another 20-30 years, and I mean this as lightly as possible, funeral homes and cemeteries are going to be overwhelmed with demand. But right now and for the next 10 - 15 years, the economy will experience a massive shift in assets. Stocks, Real Estate, jobs, vehicles, etc. Basically if it hold intrinsic, but is not spitting out an income stream it will likely be sold off in order to allow the boomers to draw an income from it.

    Regardless of what little bleeps occur over the next few years in any financial market, it is fairly certain that this transfer of wealth is going to have a huge impact on the economy.

    In the 80's when the boomers were first time home buyers interest rates soared up to the same levels as credit cards 18 - 20% per year. And with more buyers than homes on the market it was truly a sellers market, driving prices up. (of course afterwards there was the correction and the days of dollar deals because people could not afford their mortgage payments), but it was definitely a huge impact.

    Now we are basically looking at a reversal. Boomers want to sell, which will flood the market with inventory. And who is going to buy it all. In theory, the Echo Boomers are the only generation capable of taking on this increase in inventory. Luckily as the first wave of boomers are going into retirement, our first wave of echo's are graduating from university and getting started in our careers, looking at buying property, toys and eventually starting families (or not).

    So over the next decade we should be seeing rental properties, vacation properties, entire investment portfolio's flood the market in record numbers. It may be a good time to be in the Winnebago business or to own a golf course, right?

    Anyways, I want to see what others are predicting, thoughts, opinions, etc. as to what this is going to mean for our generations as this change occurs.

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    Last edited by dawerks; 02-24-2011 at 01:16 AM.

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    That might be possible... if Boomers actually have managed to pay off their mortgage by the time they retire.

    http://news.yahoo.com/s/ap/20101228/...irement_crisis

    "Mortgage Debt. Nearly two in three people age 55 to 64 had a mortgage in 2007, with a median debt of $85,000." - US.

    Its right about 60% in the US. In Canada its right about 40% of retirees not having their mortgage paid off by the time they are 65.

    In that respect, Canadians are better off, but many in north america are leaving the tab to the next generation to pay off. Brits are the worst, they leave entire mansions for the next generation to pay.

    Canadians are also much better off if the stock market crashes. The US is vested heavily in stock laden 401k's and things like Enron. We Canadians are skeptics, which is very healthy if and when the economy crumbles. Low population density and lots of resources (especially natural gas) means hopefully noone will go cold.

    And there is no way you can count on the kids of the boomers (the X generation) All the X-gens were crippled to start with, as their prime years were devastated with minimum wage jobs for the entire graduating class.

    And I don't want to overly scare you younguns, but the 40-year old X gens are having great difficulty maintaining minimum payments on Boomers debt.

    And Yes, I Blame Rob Anders.
    Last edited by ZenOps; 02-24-2011 at 09:08 AM.
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    Default Re: Boomers are starting to retire

    Originally posted by tpurcell4
    Ok, so I'm sure everyone has heard this before, that at every stage of their life everything the baby boomers have touched has exploded in growth. For the last 10, 15 - 20 years or so the big push has been the boomers are planning for retirement and financial services have been loving it.
    It's been scientifically proven that if you ignore demographics, and only make news stories about how awesome the economy is, everything will be OK.

    TRUTH: it's the new hate speech.
    In a time of universal deceit - telling the truth is a revolutionary act. - Orwell

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    I laugh at retired people when the act like they're poor. I say must be nice, most of my generation won't get that luxury.

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    Originally posted by kvg
    I laugh at retired people when the act like they're poor.
    Why laugh at them? The way I see it, it works as a defense mechanism against greedy hippie gen-x children and street urchin grandkids. Hell, at times I do the same around my friends and family.

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    I heard that theory before but it really depends on the demographic of the city.

    ie, I'm almost certain that Calgary has more young work force than retired boomers. So if you hope that boomers selling will give you cheaper house, good luck. There are more buyers than sellers.

    If you are in Victoria or most retirement towns, you may see a downward trend when the boomers has to switch to assisted living in the next 5-10 years time.

    What's for sure is that boomers will bleed us dry with health care and pension costs.
    Last edited by Xtrema; 02-24-2011 at 04:00 PM.

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    I see this demographic trend really hurting real estate values on the outskirts of cities. older people will want to move close to hospitals and infrastructure.
    it will likely also mean a downward trend on recreational property. I'm looking forward to that, so in 15 years, I can buy relatively cheap.
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Originally posted by ExtraSlow
    I see this demographic trend really hurting real estate values on the outskirts of cities. older people will want to move close to hospitals and infrastructure.
    it will likely also mean a downward trend on recreational property. I'm looking forward to that, so in 15 years, I can buy relatively cheap.
    I agree. Also downtown condos should be more desirable for older people. I've already had a few 65+ year olds at my work ask me about my condo and if I like it, if it's easy to live in etc..

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    Its literally like watching a tsunami crash into the beach.

    Everything is going to be fine, don't worry...

    Watch the animation up to 2006 here:

    http://www12.statcan.gc.ca/census-re.../cda06pymd.swf






    Edit:


    NFLD is fucked

    http://www12.statcan.gc.ca/census-re...s/nl06pymd.swf
    Last edited by broken_legs; 02-25-2011 at 10:59 PM.
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    You guys should be more worried about what's going to happen in the next 3 to 5 years!

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    The good news about this demographic trend is that work-wise, I'm golden.
    There is a huge group of people retiring in the next ten years, and a very small number of folks behind them. you have to go a long way down the age ladder before you hit the next big bump, and I'm in that one.
    Promotions and raises should be rapid for anyone in that group who distinguishes themselves.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Originally posted by ExtraSlow
    The good news about this demographic trend is that work-wise, I'm golden.
    There is a huge group of people retiring in the next ten years, and a very small number of folks behind them. you have to go a long way down the age ladder before you hit the next big bump, and I'm in that one.
    Promotions and raises should be rapid for anyone in that group who distinguishes themselves.
    I was talking to an insurance broker who deals primarily with boomers and he was mentioning that many of his clients who are 60 - 65 and should be retiring are not. They don't need the money, but they do want something to do, and instead of going to work at Wal-Mart, or fast food, they are just holding on to their current positions, which will create a delay for our generation to get those jobs and promotions. Those qualified to do the jobs, (ie. bachelors degrees, MBA's, P-Engineers, etc) are going to have a tougher time moving up until they do start to finally retire, perhaps at 70 or 75.

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