|Is Steve on the road to retirement?|
But let's back up for a minute. The big thing about retirement is socking money away. For this purpose, much of the Gen X generation has arguably been in an excellent position. They have user-friendly investment vehicles like low-cost exchange traded funds. They have qualified plans like 401(k)s and access to all kinds of investment information. They have control over their own investments (isn't this what the proponents of privatizing Social Security get in a tizzy over?). And best of all, those in the 30- to 45-year-old Gen X grouping have had opportunities to invest at rock bottom sale prices. Crashes are great for asset accumulators!!!!!!!!
For example, on 6/30/2008 SPY ( S&P 500 Index Fund ETF) and AGG (Barclay's Aggregate Bond Market Index) were priced at $118.47 and $86.98, respectively. Today they are at $137.72 and $110.46. Gen Xers were in perfect position to take advantage.
Furthermore, Gen Xers have well-written instruction books available on how to invest and create a financially secure retirement. Two excellent examples that I recommend are: