Has the stock market’s meltdown wrecked the Baby Boomers’ retirement dreams? Not necessarily, provided  one is prepared to spend less now and retire at 70 rather than 65. That’s the gist of the plan that my friend Doug Behnfield, has laid out below. Doug, whose back-of-the-napkin thoughts on the economy were featured here last summer, is a top-producing stock broker who has always lived well within his means.  Here’s his tough-love advice: 

I am going to use as a template for the Baby Boomer, someone my age (55) and in the 80th percentile of household income, which I assume to be about $150,000. Due to the real estate mania and the favoring of real estate “investment” over traditional savings, combined with home equity extraction for consumption, I am guessing that mortgage debt ($200,000) exceeds retirement savings ($100,000) leaving this household upside down by » Read the full article