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Blind Faith by Edward Winslow

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173

CHAPTER TENINVESTING FOR RETIREMENT

Go confidently in the direction of your dreams.

Live the life you have imagined.

HENRY DAVID THOREAU, WALDEN, 1854

WE’RE GETTING OLDER,BUT ARE WE GETTING WISER?

IN 1900, 4 percent of Americans were age 65 or older. In 2000, 13 percent were 65 or above. By 2030 the Census Bureau projects that the figure will increase to 20 percent. This demographic trend will have well-documented negative effects on our social security system as the baby boomers begin to reach retirement age in 2010. Many argue that this trend will also create a volatile environment for the stock market as funds are spent or shifted to safer investments as people get older.1

Corporate stocks are the investment of choice for retirement ...

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