I just want to briefly share my worries regarding: new market highs, economic surprise and what I term, "media lies." What I'm referring to here are lies about the state of our economy and the future of the stock market. The situation reminds me of that Kenny Rogers song, The Gambler.
But is the retirement crises overblown? Bankrate.com reports 14% of Americans age 65 and above and 25% of Baby Boomers ages 50-64 have not saved a single penny towards retirement. I believe that a greater concern is that those who have saved for retirement have not saved nearly enough.
The market is looking more like a gambling casino these days. One camp is saying, "Let's keep putting money in the market because there's no end to this run up in sight." Another camp will not move out of low yielding cash. Who is right?
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