Where did baby boomers go wrong? This generation isn't financially prepared for retirement

[Baitball Blogger]

93. Here's my two cents.

I'm on the very last tail bone of the baby boom run. What I saw was a generation that went through a major change when Generation X reached the work force. Before then, we still had idealists and people who were searching for a better way to live than their parents. Gen X were more work oriented than we were, at the same age. It did have an impact and Baby Boomers let go of the best of the sixties idealism to get back to work.

So, what happened? When Baby Boomers hit their fifties they faced massive lay-offs due to age because of corporate anorexia. Those high paying jobs that we thought would be available to cushion our old age became non-existent. But our responsibilities did increase, especially in the way of paying our kid's college tuition. Today, school tuition is anywhere from $40,000 - $50,000 a year. It's ridiculous because these schools do not have to guarantee a job for these kids. At these prices, they should be forced to provide a solid entry position.

Then, there's Wall Street. The crashes became more common. The old stocks that used to be a guarantee in savings, fell through. Savings and investments has become a Bizarro game of roulette, where you hope you don't have any money on the table when the wheel stops. And it stops often. Almost to the point that I strongly believe that we are seeing an intentional redistribution of funds and the Middle Class is the biggest loser.

Seriously, I can see where the anger and unrest is coming from.