Ignorance is the cause to much despair. As I contemplate how the largest generation in American history is to cope with the reality of not having what they built their life saving and preparing for it leaves me in a solemn state. The problem that was never solved during the first Depression still remains unsolved.
Now that population for the current and possibly future generation does not have the numbers to support the aging populations what will be done. To increase matters production and entrepreneurs are few in between. We live in a world where everyone is looking for employment. This is truly insane.
The baby boomers are ignorant to the facts of the Erisa Act which will reach a critical peak in 2016. The act requires people 70 years and older to begin to take money out of their 401ks that they put in tax deferred. The numbers will reach near 75 million in 2016 The government wants its pound of flesh and the act requires a systematic withdrawal. Unfortunately when people are facing lost purchasing power and scrambling to make ends meet all things are out of the window.
The sad fact is many people are unaware of this act and the consequences. All markets work in an upward state when people are purchasing and go down when people are selling. We will have a huge population selling as they are required to and also because they need to do to health challenges. It doesn’t take a rocket scientist to see this will lead to a stock market crash.
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