NYC Independent Traders and Investors Message Board › Five Reasons Boomers Will Go Bust - Trading Alone May Not Be Enough!
Forest Hills, NY
Helen Dan shared a terrific article on "five reasons boomers will go bust". . It starts out: "Millions of baby boomers will retire in the next two decades. Many haven't prepared enough -- and they face a shocking reality."
It continues with gut-wrenching nuggets like this: "And one quarter of middle-class Americans plan to delay retirement until they are at least 80 years old (currently life expectancy in the U.S. is 78), according to a Wells Fargo poll in November. Essentially, many Americans are planning to work until they die." Why? Because they MUST.
Articles and information like this are cropping up all over the place, reflecting a harsh new reality and a stern warning to traders and investors. It isn't enough to know how to read charts, plot indicators, and press the buttons on your trading platform. Strategic frugality and money management are the real keys to the kingdom of financial freedom.
This is also the main reason NYCPI has re-asserted its focus on the business and psychology of trading for a living. The way we see it, trading is part and parcel of a comprehensive approach to wealth management - vitally important, but not sufficient by itself.
Read the article! Click the links! Continue to explore this topic on your own. And PLEASE post your comments, reactions, and other resources you think might bolster a dialogue on this topic.
Edited by Hollis on Jul 24, 2012 10:42 AM