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alstry (35.68)

How can Alstry be so RIGHT so OFTEN!!!!

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July 13, 2009 – Comments (4)

BOSTON (MarketWatch) -- A growing number of older Americans are pushing back retirement as a result of the losses they've suffered in the prices of their homes and investment portfolios, according to a study released Monday. Before the economic crisis, 67% of Americans aged 62 or older said they planned to retire before age 70. Now, the figure has dropped to 40%, according to a survey from Golden Gateway Financial. "Even though some economists are beginning to grow optimistic, older Americans continue to feel real pain and must make hard tradeoffs and decisions," said Eric Bachman, the firm's chief executive. "This is the worst possible time for the 40% of seniors now considering delaying retirement to be searching for jobs."

 

NO KIDDING!!!!!   There are few jobs out there in the first place and now there will be even fewer.  Not only that, UNemployment rates will skyrocket because people who were retired were not considered in the workforce.  Now those elderly looking without a job will be classified in the workforce AND unemployed.

 

Working longer due to an economic depression was something Alstry forecasted months ago.  In addition, non working spouses will likely be forced to reenter the workforce driving up unemployment rates even further as jobs are lost and wages slashed!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

As Alstry has warned, EVERY family in America should prepare for a 50% reduction in family income.  Again, this is not the end of the world.....simply preparation for change.

4 Comments – Post Your Own

#1) On July 13, 2009 at 1:45 PM, Entrepreneur58 (50.97) wrote:

Should make it easier to get a tee time.

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#2) On July 13, 2009 at 1:51 PM, ocsurf (< 20) wrote:

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#3) On July 13, 2009 at 1:54 PM, alstry (35.68) wrote:

oc,

That is pretty good.  How do you post a picture????

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#4) On July 13, 2009 at 2:03 PM, alstry (35.68) wrote:

MISGUIDED OPTIMISM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

WASHINGTON (AP) -- Unemployment is rising. Nest eggs are in tatters. Home values have tanked. And yet surprisingly, Americans are feeling less stress from debt these days.

Chalk it up to the power of positive thinking combined with people saving more, spending less and trimming debt to cope with the recession.

The upshot is that more people are optimistic that they'll eventually be able to get out from under a mountain of bills, a major factor behind the decline in stress from last year, according to a new Associated Press-GfK poll.

Debt-related stress was 12 percent lower this year than in 2008, according to the poll. "People now have some optimism that the worst is behind them," said Paul J. Lavrakas, a research psychologist and AP consultant who analyzed the results of the survey.

http://finance.yahoo.com/news/Americans-debt-stress-is-apf-252033161.html?x=0&sec=topStories&pos=6&asset=&ccode=

hmmm??????

Debt Related Stress DOWN 12%

BUT...........................debt down LESS THAN 1/10 of 1%

Nationwide, total household debt -- including mortgages, credit cards, autos and other consumer loans -- stood at $13.8 trillion in the first three months of this year. That amounts to roughly $124,000 of debt per household. The total debt figure is down only slightly from a peak of $13.9 trillion in the third quarter of 2008, according to the Federal Reserve.

Sounds like a little misguided optimism to Alstry!!!!!!!!!!!!!

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