A 9-year bull market fails to close the pension gap
By Elliott Wave International
Did you realize that many U.S. pension funds are in trouble even though stocks have been rising since 2009?Even so, many retirees expect a comfortable retirement.
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Our March 2018 Elliott Wave Financial Forecast showed this chart and said:
Over the last 20 years, [a University of
Michigan] poll asked the following question every month: "Compared to
five years ago, do you think the chances that you will have a
comfortable retirement have gone up, gone down or remained about the
same?" Considering that the line between a better and worse retirement
is a reading of 100, consumers have been mostly glum about their
retirement prospects since the record optimistic extreme of 123 in
November 2000.... After stocks had been rising for five years... the
survey's results pushed to a high of 105 in February 2007.... The chart
shows retirees' negative responses as stocks crashed in 2008 and early
2009....
In March of 2017, retirees finally
capitulated once again to the uptrend in share prices by registering a
response of 104.... Last month, the survey even pushed to a 17-year
extreme of 109.
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