What's a "Baby Boomer" to do?

Retirees and near retirees, including the "baby boomers" of which I am one, have been wondering how the financial meltdown will affect them. Here is the comment of one expert, as Quoted in the Wall Street Journal 10/21/08:

"Olivia Mitchell, a professor at the Wharton business school and a former member of a bipartisan commission established by President Bush to study possible reforms of the Social Security system, says the market crash should be a wake-up call for Boomers to "understand risk better," starting with the risk that they may live way past 64. "The Baby Boomers are going to have to work longer and eat less," Ms. Mitchell says. "And go back to what my mother was doing -- saving string.""

There you have it, from an expert!

The original article was entitled "Boomer Bust: How Will the Economy Rebound Without Post-War Babies Financing Their Harleys?"
http://online.wsj.com/article/SB122455140262652669.html