PART IBaby Boomers and Their Retirement Plans
11LIFE CAN BE DELIGHTFUL on a volcanic tropical island—until the volcano erupts again. The situation of millions of Americans today appears to resemble life on that island.
They are following the formula that says they will be able to enjoy years of comfortable retirement if they work hard, save enough while they are working, and use their savings to buy stocks. After all, that’s the American Way.
Unfortunately, they are ignoring the volcano. And it’s rumbling.
Part I of this book looks at the volcano from the standpoint of individual baby boomers and their retirement plans. As we will see, when too many people follow the same formula—that is, rely on stocks to pay for their retirement—they create ...
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