The New Class of Boomers...

I was reading the Wall Street Journal the other day and they were talking about recent phenomenon after 9/11 and the spiraling economy and how it was affecting the boomer generation. It was quite an interesting perspective until I realized that they were talking about us.

The economy went down and a whole workforce of 50 something's were the first to go
from the workforce in order to cut workforce expenses. These were the Boomers, of course, being let go since their salaries were larger and generally in all those middle management positions. ergo...the ecomony downsized and corporations leveled.

The interesting perspective of this article was what happens to the 50 somethings?

Looking at it from the other side:
10- 15 years off the end of their retirement plan...
Now taking jobs, if they can get them that are half their living expenses.
Still feeding 30 year mortgages that were 9 years from being paid off.

They can't retire, too far away from their 401K, pensions, and retirement goals.
Late blooming Boomer families that now have college students going out of state.
Waiting to sell the house at age 55 and get the mortgage write off for the last move.

All those American Boomer dreams...being rescaled...hmmmm....ours too.