Baby Boomers Are Fated To Fatten Up Their Piggy Banks

Many economists believe that savings patterns inevitably change over one's lifetime. The so-called life-cycle theory of savings holds that when young people are thrust into adulthood, they spend more than they make, borrowing huge sums to pay for homes, furnishings, and cars. With the onset of middle age, these spendthrifts begin saving more as retirement comes closer and so do bills for college education.

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