Dinner last night with good friends Sam and Carrie, and over dessert (split four ways) the boys of our generation performed their “first date” ritual, pulling out old driver’s licenses showing us, to great amusement, photos of themselves from decades long past, sporting long hair and full beards. I’d say that a good percentage of the time, if we meet another couple our age with whom we feel instant rapport, they were in some university back in the sixties or seventies, either championing the “revolution”, or dodging tear gas on the way to buy the latest Beatle’s album.

Processing all of the political messages about social insecurity, Dan and I are feeling very fortunate that we’d already figured out that we’re probably going to have to work the rest of our lives, anyway. Frankly, the “before” picture of the amount of money we’d have to live on—the promised figures that now we’re having to fight to keep—weren’t going to cut it anyway: not if we’d like to keep drinking our cappuccinos. (Not a luxury. Maybe it’s true that there’s something addictive in there…) A few months ago, we were whining about the amount we’d get from the government. Now we’re lusting after it.

Three retirement fantasies amongst our circle of friends and family—and perhaps the three top explanations as to why the majority of boomers report that they expect, in the end, to settle somewhere within spitting distance of where they grew up and/or spent the greater part of their lives.

This is the season of economic emancipation towards which we have lusted lo these many years: youngest just graduated from college. Not that we don't have a modest agreed-upon financial bridge for her to "the real world", where beloved grown daughter is to get a job, medical and car insurance and even buy her own shoes.

Okay. I just read another article on the coming "Boomergeddon", and I'm officially scared. The article is very convincing, citing economists from across the political and academic spectrum, that "unchecked spending" (that would be the Medicare and Social Security benefits we're counting on) "will trigger recessions and worse." Sounds as though if the government keeps its promises to us, we're going to slip and slide quickly into something akin to a third world economy. So in the words of Chicken Little, what are we to do? Should we sell our houses now, before the bubble bursts, and take the money out and put it somewhere "safe?" But oh no, they say the stock market is going to crash, too. And anyway, where would we live? And then there's the issue of medical care. If that is going to be cut drastically, will only the rich be able to live long,healthy lives? The rest of us, well, think Soylent Green?

From The Boomer Blog Archives: Happy Holidays!

Three retirement fantasies amongst our circle of friends and family—and perhaps the three top explanations as to why the majority of boomers report that they expect, in the end, to settle somewhere within spitting distance of where they grew up and/or spent the greater part of their lives.

Financial planners will find it heartening to know that now more than ever before, there exists vast opportunities to market their “planning wares” before the boomer demographic. Why? A recent survey by Nationwide Financial reveals some answers.

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At a Fourth of July barbecue last week, over buttery corn on the cob and flank steak, sandwiched between critiques of the new flick “A Mighty Heart” and Paris Hilton’s recent tour de-force (yes, I’m referring to those jail diaries), two words came up among the Gen X gathering that I wouldn’t have predicted going into it: “baby boomers.”

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The number of articles warning the public about the number one enemy of a healthy economy are proliferating. And who is this enemy? Those no good, bad awful baby boomers: that’s who.

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For years, the big money-earner of the pair has golfed with his financial adviser, has told his wife that things are under control, and has strut his stuff confidently whenever questioned by her about their financial affairs.

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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.

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2008 was a blast. There was the little implosion of our financial system and auto industry. We got to watch our hard won and well matched 401K dollars swirl neatly down the drain as our tax dollars ballooned into majestic golden parachutes for some of the most scrupulous leaders around. And to cap off the year, we had the distinct pleasure of seeing slow motion replays of our President dodging one ticked off Iraqi’s leathery shoe, twice (freedom is messy).

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Memo to elected officials and anyone concerned with how we live in America PM (post-meltdown):

If you're planning to hang in there until things get back to normal, consider this: demographic trends suggest a new normal is fast approaching. The market for everything from housing to consumer spending is shrinking as boomers pass their peak earning years.

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