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Boomer Financial Weirdness

Hey Boomers. Don't have a degree in financials 101, but looks like an interesting ride for the next few years. Here we are, cruisin for retirement and surprise! What Happan! I've been researching the past few years of what future could bring and cannot believe the accuracy of predictions. So here goes:

1. In my family growing up in Cincinnati, debt was a real "no-no". Dad paid everything with a check or cash. Credit cards??? When he passed on in 1988 I found credit cards in the old banking box, that were sent in the mail, but never used. He always said if you can't afford it, don't buy it. The Greatest Generation had good financial literacy!!! The U.S. government has now over $12 trillion in debt! Wow!!! Total debt is about $13 trillion in total if you include GDP.

2. Social Security, Medicaid and Medicare is closing in on $100 trillion.

3. Government is guaranteed to grow.


Ok. What is the future? Let's see. Could we be in a future inflationary depression or a collapse of the dollar?

Let me know what you think?

Best regards,

Denny

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Boomer Economic Future Problems

What does the economic future hold for All of Us? It seems the old model our parents taught us was fine and then one day everything was different. Perhaps, what futurists wrote about in the past decades in now coming true. We have fully entered the Information Age and long past is the Industrial Age.

When people ask me for financial advise in what they should do or not do, or what to invest in, I rarely say anything. With perhaps with a simple exception. Become financially literate and education yourself. Write a plan, read, ask questions, listen to mentors and still believe we live in an abundant universe.

I highly recommend an economic baseline economic overview program called "The Crash Course" by Chris Martenson for Boomers. He has worked four years on creating an audio visual program, viewed on the web, of where we have been, where we are today and where we are going. Think of this Course as college Macroeconomic class 101 with a patient professor, but you will be surprised on how much you learn. No pop quiz either!
His course can be found on www.chrismartenson.com

Let me know your thoughts on his Course.

Best regards,
Denny Riedmiller
Cincinnati, Ohio

Labels: Boomer Economics

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Economy

It seems like everyday we are in a new adventure with our economy, but the journey is not pleasant. Many of my fellow friends have "lost" 25% or more of their 401k monies, and all are concerned. Let me us know how you are coping with all of this.

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