Many Day Trading to Boost Retirement Funds - as part of the news series by GeoBeats.

Money woes and planning for the future seem to go hand in hand; as the baby boomer generation gets older there are fewer options left for a comfortable retirement.

Many Americans have started day trading their retirement money in an effort to see fast returns and move ever closer to their retirement nest egg goal. According to a benefits firm as quoted in the LA Times, “the average 60-year-old has only $114,500 in his or her 401(k), and half have less than $37,300,” which leaves Americans at a cumulative 6.6 trillion dollars shy of what they need to retire with a comfortable amount of money in the bank.

Day trading became a popular practice in the 90s after more individuals started getting stock market access through the online brokerages. However, with the market crash of 2000, scores of them lost huge sums of money. Even though day trading is seen as risky business, the alternative buy and hold method does not have a fast enough turn around rate for the baby boomer generation who are fast reaching retirement age.

What are your thoughts on baby boomers day trading with retirement funds?