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Boomers: “More Likely to be Stoned”

July 28, 2010

July 28, 2010: Monday morning I read an article in my local paper – Charlotte Observer –  about how the first wave of Baby Boomers (those between 55 and 65 years old) will likely be starting their golden years fat, flat broke and possibly stoned.  Not that this is completely new information…you had to be living under a rock not to hear about the affect the recession has had on retirement accounts, but worthy of discussion no less. 

  • Between 2002 – 2007 illegal drug use by folks in their 50s increased by 46% over the five year period according to federal studies.
  • 401k plans have seen brighter days…nationally retirement accounts initially lost $2.8 trillion, or about a third of their value in the stock market according to the Urban Institute. 
  • In my state, North Carolina, more than third between 55 adn 64 are obese according to the NC Center for Health Statistics website. 

Picture a company’s boardroom which is more likely to be full of men and women over the age of 50.  According to the statistic above, if there are 10 people in the room, at least one could possibly be stoned.  Not exactly how I picture folks running a company or managing a board but could be the reality.  And if my retirement had taken a beating like there’s just years away from retirement and I every year it got harder to fight the belly bulge…well then I may just consider being stoned too.

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