So I went to a professional association meeting last night and I ran into a few boomers and jokingly asked them if they were planning on retiring soon or if their plans had changed because of the market collapse and financial mess.   Sadly, many of them somberly said that their plans had changed and they have no plans on retiring now or anytime soon.

It then hit me that perhaps the finanical mess was a mass consipiracy to keep the boomers working.   I have ranted for many posts now about the boomer armageddon that’s been coming for some time now.     I asked what would happen when 78 million people (about 1/3 of the population) stop working.   Who will pay income taxes?  Who will make 401k contributions?  Who will pay health insurance premiums?

Boomers are typically on the high end of the salary scale because of their tenure and experience so it reasons that a majority of the taxes, 401k contribution and health care costs have been paid, in large part, by working boomers.    But what happens when they all retire?   If I were a boomer and didn’t work any more I wouldn’t pay income tax, health premiums, make 401k contributions, and have the benefit of reduced exemptions (e.g. property taxes are lower for seniors).

So WHO THE HELL MAKES UP THE DIFFERENCE?  I don’t think we need to worry about that question anymore, boomers will continue to work until they drop dead at their desks (or where ever they work).

Whether there is a grand conspiracy or not, it looks like most people will keep spinning in the wheel like little hampsters until they can’t take it no more.