1. They plan to move out of the state at a rate slightly faster than those who plan to move here, continuing a net loss of population in California (not including births here, and immigration of both the legal and illegal variety.
2. They're more broke than they ever counted on being at this point. Results of a recent survey by Natixis Global Asset Management with 1000 respondents show, 33 percent of Boomers have set aside less than $50,000. By comparison, 41 % of the Millennial or Generation Y group (ages 18 to 33) have already put aside $50,000. Now factor in the fact that Baby Boomers have saved an average of $262,541, about a third of the $805,400 they predict they’ll need at retirement. What?
It's flat-out amazing that people have been able to squirrel away even these amounts...
