End of Recession Will Not Bring Back Retirement Spending

Even after the recession ends, Americans said their spending will return to just 86% of pre-recession levels, according to a survey by AlixPartners, a global business-advisory firm.

The spending drop will equate to an approximate 10% drop, or more than $1 trillion annually, in GDP, according to a press release of the survey results.

Survey participants estimated that their retirement savings have dropped an average of 25%, and almost a quarter of those polled (22%) said they now plan to retire later than previously expected. Among that number, the expected retirement age jumped 3.6 years to older than age 65. When asked why they now expected to retire later, 30% cited loss of savings or retirement.

AlixPartners said that the huge Baby Boomer generation—once thought to be moving into the years in which they would be spending their retirement savings—might instead be accounting for more than a third (35%) of total dollars saved by Americans post-recession.

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Benefits from a Recession

What do you think of economists now that we are in a serious recession?

Apparently these alien jerks took the wrong turn on the road to nowhere and wound up on this planet by mistake. They were trying to model a phoney economy on Mother Earth that only works in some other universe or dimension.

But a recession is not all bad: There are certain benefits:

Here is what a Squidoo Lens Maker Says about the benefits of a recession:

• A recession forces change.
• A recession makes you wiser.
• A recession makes you think out of the box.
• A recession makes you appreciate what you have.
• A recession makes a decision maker out of you.

These come from the BENEFITS FROM A RECESSION Website by Ernie Zelinski who apparently is writing a book called 101 Reasons to Love a Recession.

• Be grateful for your position in life regardless of how much equity you lost. Putting things in the best possible way, the bum you see by the junkyard still has it tougher than you.
• Drivers in the US are on pace for fewest road deaths since Lyndon Johnson was in the White House. Due to the recession people are driving more slowly and less often resulting in fewer crashes according to academics.
• Many North Americans will finally lose a bit of weight because they will be forced to quit being so piggish with their food. It's about time, given how sadly obese America has become.
• At cocktail parties people used to brag about how much money they made. Now at some cocktail parties people brag about how much money they lost during the recession. Thus, you can be a big cheese if you squandered a big fortune in the stock market.
  
  Also Check Out Ernie Zelinski's: FUN AT WORK CAFE. This may also help you enjoy the recession