January 8, 2006

Scariest Commercial on TV

It's for Ameriprise. It's simply a middle aged man playing an electric guitar while some text flashes across the screen. The text includes something like "Baby Boomers start to turn 60 this year." Sweet fancy Moses! People who have been producing for this country for years and in huge numbers are reaching retirement age. Then they cease producing and start goign into full time consumption mode. Consumption of food, health care, Florida condos, and Social Security. As pensions are rapidly being depleted and Social Security is going away, the burder of taking care of the aging boomers falls on their own savings and the goodwill of their children. Those that don't have either will either depend on the public at large or they will finish their lives in a very depressing situation.

There are lessons here, kids. Save for retirement. Don't count on the government or your company to fund your golden years. Make sure you bring those kids up right so they will take care of you should you need it some day. Oh, and if your parents still work, encourage them to put more in the old 401(k).


LilRed said...

My mom turns 60 in two years. And I swear I cannot get her to understand that she needs to put more toward her 401(k). She has no problem denying that social security is being depleted. It scares me.

Anonymous said...

Good advice but realize that SS is not going away. The benefits that will be paid out may not be at the levels of today but it will be here for years to come.