3 Ways the Economic Crisis Is Destroying Baby Boomer Retirement
Here’s how to cope with stock market declines, falling home prices, and the credit crunch
Yep, that’s what I just read at the U.S. News Money and Retirement site. It was an old post, from 2008, back when we all started going broke, but it’s still completely relevant to me.
Problem is, they don’t say how to cope with it. And I can’t add anything either. As Neil Young said, we are Helpless, Helpless, yea-eah-eah, helpless…
And I feel it. Oh, how I feel it. I’ve already lost most of what I had. Ring a bell?
We may be moving soon, and ouch! The value of our house is close to nothing. I’ve lived here for 33 years, so that hurts. It’s in a great area in high demand.
But so what, if nothing is selling?
The Pseudo-Husband doesn’t seem to realize this. I don’t have the heart to tell him. He kind of lives in a world of his own, working hard and still earning a living, and I’m so proud of him. He’s still farming, which is extremely physical, and he’s doing it despite the cancer and the chemo.
I’m a wuss. I doubt I could do that. If I were him, I think I might just jump off a roof. A very high roof, since so many seem to be surviving falls these days.
There has to be a way to survive and regroup. I think I may have found one, even!
(subliminal and oh-so-hopeful cheer—my online reading school is growing bigger by the day!)
There simply must be. I’m not here to depress you. Hell, most of the time I hope to entertain you with my blather.
But geez. What can be done?
Are you like me? Were you a kid when the Beatles came out? Do you remember Woolworth’s and sodas at the fountain? Did you long to be at Woodstock? Did you dream of Melanie’s “There’s a chance peace will come in our time, please buy one?”
Did you cry when John Lennon was murdered?
If even one of these are true, then I think you might be in my age group, whether you admit it or not! 
No problem for me. I understand it.
But back to life today:
Are you still stunned at how your savings and hard work just disappeared, along with the chance to retire?
Have you lost more than you can say?
Let’s connect and talk about it. I’m sick about it and have been since 2008 when I had things pretty much in place, despite The Back and The Eye. My future was arranged.
Please. If you get it about my fears, share your story. Please?
Margaret Mead said (although some damn fools are disputing the source: who cares?) It means what it means, no matter who said it:
Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has.
Let’s be those citizens. Let’s band together and insist on some answers. We used to be the generation who did change the world.
And you know what? We ain’t dead yet!
What do you remember?
And what’s your story?
If you prefer to talk on Facebook, great.
Oh, Paula, I could reach out and hug this post! You said a mouthful and your whole mouth was filled with the signs of our time.
Such great nostalgic references. Yes, I was a kid when the Beatles came to be and you’re darn right I cried when John Lennon was murdered! Ruthless and senseless.
Try as I might to keep from getting angry, I can’t help but think some unsavory, greedy bastards (please excuse my French) got away with murder and sent us baby boomers up the creek without a paddle. The worst part? No prosecution. Sometimes I find it REALLY hard to wrap my brain around all the injustice.
But to keep my sanity intact and my blood pressure from reaching record highs …
I try to stay in touch with those who are going through the same hard times as myself and be a support to them in some way — even if it’s just to lend a listening ear. Financial worries keep me awake at night and I feel pretty insecure about my immediate future. Can’t find a job to save my soul but I’m actually starting to enjoy Ramen noodles for dinner. They kinda grow on ya after a while.
I’ve always been one to lead a frugal lifestyle anyway. The only problem is now I have fewer dollars to stretch every month.
As my dad used to say (may he rest in peace), I can squeeze a nickel till the Indian rides the buffalo!!
I’m calling upon my general positive nature and character now more than ever. I always used to see the best in people even when others couldn’t. Now I’m finding delight in the littlest things and grateful for good health. I can recognize lucky stars and blessings when I see them!
I’m really pleased to find out your online reading school is growing bigger by the day. Hip, Hip, Hooray!!
And that’s the route I’m going to take as well … focus my energy and effort into building a biz online and the government can go pound sand up their (you can fill in the blank).
Super good post!
Melanie
Melanie Kissell @SoloMompreneur brilliantly posted Delivering A Pregnant Idea
Darlin’, it’s all we can do, isn’t it? It all feels outrageous. The continued attacks on the things we’ve paid into for years feels devastating. But like you, it eats me alive!
So I too focus on the positive. Almost all the time. This was written right after I received a statement filling me in on the status of a very small amount of money that I have for the next nightmare that comes my way (kidding—hopefully not!), and it’s way smaller than I’d anticipated. BUMMER!
So I feel like a bit of a whiner, but hey. I get past it and return to being upbeat about the teaching and life online. Not much else we can do, right?
Paula Lee Bright brilliantly posted Steve Jobs Didn’t Give Me a Computer, He Gave Me Back My Life
Exactly right, Paula!
All we can do is give life our best shot. Sometimes the Pollyanna in us starts to wane and that’s okay. A little whining clears the pipes!
And I hear a glass of beer flushes the kidneys.
Melanie Kissell @SoloMompreneur brilliantly posted Quick Happiness Workshop for Increasing Profits at Times of Seeming Uncertainty
Paula, you have done a brilliant job at voicing the anger, fear, loss and frustration so many people are facing these days. This whole experience has been a “forced invitation” for many to stop and assess the difference between want and need. Not that people who worked hard all their lives don’t deserve to envision a retirement where they can sit back and enjoy what they enjoy. But if that’s no longer possible, then all that is left is choosing how to respond.
I think Roy’s impending ants in the pants post may offer some insight into actions that may invoke change…and most likely it will take time to turn things around. Meanwhile, acknowledging your husband for continuing to earn a living all while fighting cancer and going through treatment, acknowledging yourself for having the guts to take an action and invest in something you care deeply about to make a difference for young readers and making informed, discussed decisions with eyes wide open are the kind of actions that feed most people, instead of draining them.
Sometimes, during challenging moments, we can get trapped into white/black, all/nothing thinking when really what we need is creative solutions. I was personally preparing to manifest my dream of once again buying a home in LA (a promise I made to myself when I sold our marital home after Gary’s death). I was within several months of having everything I needed to make an offer…and then the markets dropped. At first, I was devastated but it forced me to ask myself the meaning behind the home, why I wanted it, what did it symbolize and whether I needed to update my goals because I really didn’t want the burden of owning on my own. I realized it was a piece of the past so I let it go and with it a ton of stress, worry and anxiety. I had to rethink my options and now I love the place I rent, that I don’t have to take care of or worry about plumbing and roofing issues.
Really, really great blog!
Tambre Leighn/coaching by tambre brilliantly posted Anna’s Story ~ Part 2 of 3
You’re so right, Tambre! Maybe if life had gone the way I’d planned it, I wouldn’t be as happy as I am. < --And that's actually true. I AM happy, no matter how much this post makes it seem that I'm not.
Fascinating to read about your experience with the housing crash. That gives me a LOT better insight into your beliefs and your blog. Have you written about it? If not, you should. If you have, I want to read it! Thanks as always, friend.
Paula Lee Bright brilliantly posted What Do YOU Think Makes a Good Dog Good?
Do you remember Helen Reddy and “I am Women hear me roar”
Baby Boomers have gone through 2 major economic losses and for the majority they have lost their retirement savings. Baby Boomers need to keep working not only for their mental well-being but for their financial well-being. The internet is a tool for many to look at their future but one thing I think could happen yet is that the value of many things will change downward. We will stop wanting things. We will start demanding that we get value for the services that we pay for and we can stop expecting and paying the government to continue to fail to rescue us from the conditions they helped create.
As a Baby Boomer, I know about free love but I also know about choice and the fact that I have not always made great choices. It is interesting time and I know that I have swallowed my pride and looked at what is essential in my life. It is one way forward.
Roberta Budvietas brilliantly posted Doing your best keeps you out of stuck
Do I remember I Am Woman? I sang it over a thousand times in the duo my first husband and I formed. He was a teacher, I was a student, and singing seemed like a good way to make extra money, since we sang together all the time anyway.
That was a big, big hit with the ladies!
Yes, we sure have taken some hits with the economy. I’ve totally swallowed my pride, as you say, because I am here in this “place” and am trying to work my way out of it. Thanks for coming by, Roberta.
Paula Lee Bright brilliantly posted What Do YOU Think Makes a Good Dog Good?
Hi Paula: On my way down to Dodge Center this weekend, I heard the tease on NPR’s “Marketplace”: How to downsize and have fun. It was an ironic title because my family is in the process of downsizing. The advice? Don’t carry debt! Okay, I’ll get right on it, I thought.
How I get through is by being honest. With myself, with my family. Keeping secrets is stressful. When the entire family can share in solutions, the burden is lessened. You can even find humor in trying times. That’s why I enjoy reading your blog. Susan
Susan Maricle brilliantly posted Not an End, but a New Beginning
Honesty and humor are good, Susan! They sustain me most of the time. But right now, I’m pissed. Why was no one who took our money and turned it to trash prosecuted?
We’ve gotten rid of debt. We’re trying to do everything right. I’m just a bit fed up and I’ve never been good at just accepting the status quo because it is what it is. No when there are people who did wrong. Greedy badly wrong things.
You don’t feel any desire to get to the bottom of it? Thanks for coming by so often, kid! You are part of my backbone now!
Paula Lee Bright brilliantly posted Homus | A Good Dog
Great post, Paula!
I am preparing (in my mind, not on computer screen- yet) a discourse on effective protesting and why there seems to be so little in the States, nowadays.
Your blog post is one example. Thanks for putting another ant in my pants to get me going.
Roy A. Ackerman, PhD, EA brilliantly posted RIP webOS. What is the takeaway?
Roy, I can’t wait to see what you come up with. Will it be a call to action? I hope I can participate in some way.
Oh, my! It was my pleasure putting the ant in your pants. Having said that, rather at a loss! ;D
Paula Lee Bright brilliantly posted Steve Jobs Didn’t Give Me a Computer, He Gave Me Back My Life
Hey Paula: You had asked if I felt any desire to get to the bottom of greed. At the moment I didn’t, couldn’t, because of the many tasks immediately at hand (which are still there). But I just finished reading Bright-Sided by Barbara Ehrenreich and I’m right there with you. It didn’t occur to me that’s why so many people vote against their own interests: the idea of “Bless the rich, love the rich, someday I’ll be rich.”
Roy, I look forward to reading your blog post!
Susan
Susan Maricle brilliantly posted Right Foot Red: Meet the Twister Carpet
Wonder how I missed your post so many months ago? What a great premise for a book! I’m going to look it up now, kid. I always love good book recommendations.
I think I need to read it, because I sure don’t get the reasoning right now, as I listen to the Republican presidential candidates hurl hate back and forth between debates. If being rich means to feel as they do—count me out!
Paula Lee Bright brilliantly posted Komen Debacle Inspires New Proposal | Limit Ejaculation to Save Unborn Lives