The New York Times Quote of the Day for Tuesday October 21, 2008 attributed to John V Miller, chief investment officer of Nuveen Asset Management, focused on the easing of global credit markets. Miller said that "Fear really appears to have receded considerably." The same day I read in AARP’s The Bulletin of the hundreds of people who are over 50, working and homeless and among the hardest hit by foreclosures.
For the rest of today’s blog, continue at the Boomer Blog
According to AARP’s first ever analysis of mortgage crisis data by age, more than 680,000 homeowners over 50 were in foreclosure, delinquent or lost their homes during the six months ending December, 2007. That represents about 28% of all delinquencies.
While, economics and finance is not my thing, I do know something about this gut fear.
I grew up in an immigrant home with little money and no prospects. My parents were always afraid of not quite making the rent, paying utilities or scrimping on food. My mother made my clothes and my brother and I just had one new pair of shoes each year. Granted others had it worse but I remember all those years and this gut fear of losing everything swoops down on me when I read about my contemporaries living in cars, with friends or in other temporary situations.
It sounds grand that Miller opines that fear is receding.
Just curious about the rest of us …
Eileen Marcus
Comments (1)
Retirement has become tricky for boomers.
The current state of the economy has really
thrown a wrench into things. Many boomers
are coming out of retirement to work or
holding off on retirement. It's such a pity.
However, keep in mind that one company will be
there to help you out as your make your way
down the road on your way to the golden years.
AARP is a great source of services and information that can be beneficial to the quality of life. What's great about AARP is that a membership comes with prescription and travel discounts!
AARP has teamed up with talk show host, Cristina Saralegui and made a fun, customizable video and you're just a click away from being the next guest on Amigos Live! Check out http://www.upclosewithcristina.com/video to learn more and make your own video!
Also, you can enter to win an all inclusive trip for 2 to Miami while you're checking out the site! (And even if you don't win, there's still those great travel discounts that come with the membership!)
Definitely check out AARP for yourself or a loved one. There are really are some great benefits to joining!
I hope it's alright that I commented on your blog -- wanted to let you know about the fun video with Cristina and AARP's great benefits. If you have any further questions, please don't hesitate to email me.
Thanks!
Isabella Coldivar
AARP Ambassador
isabellaAARP@gmail.com
Posted by Isabella Coldivar | November 3, 2008 2:46 PM
Posted on November 3, 2008 14:46