The Baby Boomers Retirement Blog

Many times I have been told that my Baby Boomer Retirement Blog presents an extremely dark picture of the future… Really? You can disagree with this blog but you can not totally ignore one of the most influential financial media outlet: the Wall Street Journal. Here is what they said recently: Is it too late to save your retirement? For many, the answer is surely yes. News out this week shows that 29% of those who have already retired have saved nothing at all to support themselves, while only a third have saved at least $50,000. To put this in context: A retirement account of $50,000 will provide a 65-year-old man with an annuity of just $4,000 a year. Does this sound to you as a

I am sure you heard about the Rich Dad, Poor Dad author Robert Kiyosaki. You might even be familiar with his Cashflow game (or the concept, at least). Watch this video where John Seiferth is interviewing Robert Kiyosaki about business, investing and just life in general. Pay very special attention to the second minute in the video when Robert starts to talk about some recent pension news!

Unless things change fast, human history will show that the phenomenon of “retirement” was limited to one generation. After World War II, when European and Japanese economies stood in tatters, American capitalism could fulfill “the American dream,” since there was little foreign competition to speak of. For the first time ever, workers were promised that [...]

Boomers’ retirement dreams fade — this was the headline of a recent article in the Toronto-based Financial Post, and it said: This week’s fiscal update from the federal Conservative government has become something of a tipping point for Canada’s march toward long-sought changes to the pension system. On Thursday, Jim Flaherty, the Finance Minister, said he would work with the provinces on issues related to defined-benefit (DB) and defined-contribution plans, “with a view of making permanent changes to the framework” next year. Read the rest of the article in FP… About the author Istvan Horvath is an author, blogger, former journalist, a

TORONTO (Reuters) – Canadian companies are warning the government they could go bankrupt without relief from federal pension funding standards, that are harder to meet due to the recent market sell-off, the Globe and Mail newspaper said Wednesday. The Office of the Superintendent of Financial Institutions, which oversees about 1,400 federally regulated pension plans, confirmed that it has met with companies which are concerned the market turmoil will make it difficult to meet their pension funding requirements… Read the rest of the article About the author Istvan Horvath is an author, blogger, former journalist, a passionate advocate of the Baby Boomers, and the founder