Friday, February 27, 2009

Boomers Bombed Out

I knew Boomers are bad off, but not this bad:
Boomers between 45 and 54 have lost 45% of their median net worth, leaving them with just $80,000 in net worth, including home equity, according to the report.

Older boomers have fared marginally better. Those between 55 and 64 have lost 38% of their net worth, leaving them with $140,000. But this group is rapidly nearing retirement age and they have few working years left to make up the losses
I will never understand how a 50 year old only has $80,000 in net worth. That is just irresponsible. If you are 60 and have a net worth of $140,000, then that is not just bad luck. Just sayin'.

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