He's the type of person with a vested interest in keeping us all on the treadmill.
Maybe it's more like we're hearing the perspective of someone who could have retired as an extremely rich multimillionaire a decade ago, and yet still does his TV show. He's one of those people who is worth (guessing) $150M and is still going to work 70 hour weeks all his life to try and "achieve" $1B or more. Of course if you take advice from a person like that, there will never be an "enough" level where you can retire. If he doesn't yet have enough, then he certainly doesn't think you do.
Also, this is not the type of person who raises their own kids, makes much time for friends / family, volunteers for charity, has a hobby, etc. This is a simple workaholic. Never take advice from anyone you don't want to be like, because their advice is always how to become themselves.
I *do* wonder what the impact will be from Baby Boomers transitioning from investing to withdrawing. Maybe enough of them haven't invested that we won't see much of an impact. Or maybe their withdrawal from the market, while they still consume stuff, will drive P/E ratios down.
The sensible Boomers will be living off the income from their investments, and down the road their kids will inherit it. ;-) Or maybe that is just those of us on here. Actually, being on here pre-retirement is good for post-retirement, since it is good training for not living beyond one's means. Plus it is amazing how much actual available income there is in retirement, once part of your income is no longer going to all the work expenses and the savings for retirement. My disposable income now is higher than when I was working.
I'm not sure the effect will be so big. Looking at a population pyramid...
https://www.populationpyramid.net/united-states-of-america/2019/...one can see the Baby Boomer generation is in the top section of the chart and already significantly reducing in number. The rest of the chart looks remarkably orderly, with nearly equal numbers of people in each generation. Behavioral change across generations is a much more likely as an influence than numbers of people. Retirees will roughly equal workforce entrants for decades to come.
Speaking of... we haven't been seeing so many articles lately about how Millennials are eschewing car ownership, home ownership, status symbols, stocks, etc. That's because Millennials are now falling in line with the Boomer definition of what is worth working for, just like GenX did. I see them on golf courses.
