This book’s message is both unusual and upsetting. Author Thornton Parker questions conventional wisdom about financial planning for retirement. He draws on his varied background - including jobs in government and private sector financial planning - and discusses the influence that baby boomer retirement investments have on the stock market. He examines how the stock market creates wealth, why stock prices get inflated and who benefits. Contrary to what most experts in the investment, retirement and mutual fund industries tell their clients, Parker believes the "phantom wealth" that boomers have accumulated with their stock market investments is a time bomb. He suggests some changes, but given the greed and power he detects behind the creation of phantom wealth, his voice is probably not loud enough to make a difference. If his scenario unfolds, retirement certainly will not mean golden years for aging boomers. getAbstract recommends a look at Parker’s proposals to investment advisers, HR professionals and people planning their retirement. If he’s right, ignoring his warnings could lead to a distorted economy and increased income gaps between rich and poor.
In this summary, you will learn
- What the stocks-for-retirement (SFR) investment strategy is and why it is very dangerous;
- How SFR investment could cascade to prevent baby boomers from retiring comfortably;
- What individuals and organizations can do to mitigate the negative effects of SFR and protect themselves from disappearing "phantom wealth."
About the Author
Thornton Parker has more than 45 years of experience in fields ranging from computer science and intergovernment relations to policy development and transportation. He co-founded a company to help small manufacturing companies make more efficient use of their utilities.
Get the key points from this book in 10 minutes.
For your company
We help you build a culture of continuous learning.
Comment on this summary
Contained in Knowledge Pack:
Knowledge PackBaby BoomersWhy a generation of former hippies and rockers now includes your best customers, your top employees and your boss.
Customers who read this summary also read
Teresa Ghilarducci Ph.D
Workman Publishing, 2015
Michael Corkery and Ben Protess
The New York Times, 2016
Norton Reamer and Jesse Downing
Columbia UP, 2016
Tony Robbins and Peter Mallouk
Simon & Schuster, 2017