Simplistic perspective:

Fewer people working because they have elected to retire makes it more difficult to cure the economy’s supply-demand imbalance.

Source: Why retiring Baby Boomers may make it harder to lower inflation

They blame retirees for having saved their money in the past, and now planning to spend it when they are no longer producing goods or services.

They note that follow on generations are smaller (true) and immigration has been less (briefly) – making it difficult to match supply to demand.

Except: they ignore the potential of process improvements and automation, both of which will play a central role in coming years.

What is true: those of us who spent our working years as slaves to saving and not spending were fools. We should have spent our money and enjoyed life rather than postpone life to when savings are eroded via inflation (inflation is a wealth tax on everyone).

Don’t be a fool and oversave for retirement – which is what most professionals have been doing. Spend some of your money when you can enjoy it earlier in life, and when those experiences may translate into better work opportunities as well.

By EdwardM