Options
The Market Braces for the Boomers
mrearlygold
Posts: 17,862 ✭✭✭
This is an article mostly about how the boomer generation might be affecting the stock market. Does it stand to reason that similar selling waves will hit the coin market too?
I know that a lot of people here in Fla have bet the ranch on boomers retiring in Fla. So often I've heard about how everyone is going to sell their house in New Jersey for a couple million dollars and retire to la la land here in South Fla paying cash for their houses and wasting away their golden years on the golf course etc. But nobody has shown where the people are "behind" the boomers who are going to pay those millions of dollars for houses in New Jersey to allow these "boomers" to fly South permanently.
So the question remains, is there ultimately going to be a giant sell off in the coin business leaving only the elite and wealthy like Tradedollarnut and that New England guy to scoop up all the great rarities ?
The Market Braces for the Boomers
Will the baby boomers' retirement cause the stock market to go bust?
That question, studied and debated for more than a decade, is no longer hypothetical. Kathleen Casey-Kirschling, the former New Jersey teacher who was born one second after midnight on January 1, 1946, became eligible for Social Security benefits this New Year's day, making her the first splash of a demographic tsunami. Over the next three decades, nearly 80 million boomers will join her.
To some prognosticators, the prospect of this swollen generation stepping down is a fright -- many times worse than the stock market's tumble last week. If the baby boomers stop working, they ask, who will produce the goods and services to keep the economy growing? If they stop earning, who will pay taxes to fund their Social Security and Medicare checks? And if they sell off stocks and bonds to finance their golden years, who will buy?
The Market Braces for the Boomers Continued
I know that a lot of people here in Fla have bet the ranch on boomers retiring in Fla. So often I've heard about how everyone is going to sell their house in New Jersey for a couple million dollars and retire to la la land here in South Fla paying cash for their houses and wasting away their golden years on the golf course etc. But nobody has shown where the people are "behind" the boomers who are going to pay those millions of dollars for houses in New Jersey to allow these "boomers" to fly South permanently.
So the question remains, is there ultimately going to be a giant sell off in the coin business leaving only the elite and wealthy like Tradedollarnut and that New England guy to scoop up all the great rarities ?
The Market Braces for the Boomers
Will the baby boomers' retirement cause the stock market to go bust?
That question, studied and debated for more than a decade, is no longer hypothetical. Kathleen Casey-Kirschling, the former New Jersey teacher who was born one second after midnight on January 1, 1946, became eligible for Social Security benefits this New Year's day, making her the first splash of a demographic tsunami. Over the next three decades, nearly 80 million boomers will join her.
To some prognosticators, the prospect of this swollen generation stepping down is a fright -- many times worse than the stock market's tumble last week. If the baby boomers stop working, they ask, who will produce the goods and services to keep the economy growing? If they stop earning, who will pay taxes to fund their Social Security and Medicare checks? And if they sell off stocks and bonds to finance their golden years, who will buy?
The Market Braces for the Boomers Continued
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
0
Comments
and this is one of the most dramatic sea changes ever. It will be muted by inflation forcing many people
to work a little longer than intended but there will be other changes to compensate as well.
SS is flawed in general and should not be relied on and many baby boomers know this, possibly another reason many work in to their 60's and beyond.
The current market blip is truly a tragic thing because it was caused mostly by greedy corporations. It will pass.
For now I would not worry about baby boomers but worry about fixing our flawed system.