BABY BOOMERS WAKE-UP CALL By Mary Lynne Dahl. Money Matters BABY BOOMERS WAKE-UP CALL By Mary Lynne Dahl, CFP® October 10, 2012 Wednesday PM (SitNews) Ketchikan, Alaska - Most baby boomers can recall the 70’s, when things were groovy and the world was full of good vibrations. It was a cool time and retirement seemed so far away that nobody worried about it much.
For an awful lot of those boomers, the research out there is downright depressing, because studies consistently show that 60% of workers 55 or older have less than $100,000 accumulated for retirement and 31% of those same workers have accumulated less than $10,000! Unfortunately, of all workers surveyed, 64% answered that they believe that they are doing a good job of saving for retirement, but only 42% of those same workers have ever done any specific retirement planning. And to make things even worse, many employees who direct their own investments in a retirement plan choose those investments poorly. The reality check that many baby boomers are now experiencing is real. Pat Gallagher: Celebrities Who Are Alive and Well -- Post 80. How Golden Will Your “Golden Years” Be? | Timi Gustafson RD. As they enter retirement age, baby boomers are once again at the center of the attention of marketers and industry.
I speak from experience. Hardly a day passes by on which I don’t receive a letter, brochure or magazine in the mail, inviting me to go on a trip to far-flung places, continue my adult education, or join a community of like-minded, active seniors. Aging has never been so much fun and so full of promise, it seems. Take, for example, the movie “The Best Exotic Marigold Hotel,” which turned out to be one of the longest-running box office hits this year.
Unlike for its forbearers, retirement for this generation – so we are told – is a new beginning rather than a move closer to the end. This unprecedented optimism about the prospects of old age is also big business. The authors suggest that the new retirees should consider themselves as “ageless explorers” who travel the world, start businesses and live life to the fullest at every moment they have left. Baby boomers return to dating - Magazine. 40 percent of Transition Boomers Begin Planning Five Years Before Retirement. New Research Shows Baby Boomers Aren’t Confining Themselves to Traditional Regions of the Country. July 18, 2012 - Despite popular belief, a recent analysis of government data by the National Association of Home Builders (NAHB) reveals that the geographic distribution of households headed by someone age 55 or older is fairly even across most of the country, with more than 30 percent of all households in every state meeting this description.
The study sheds valuable light on a key statistic for housing demand among active adults, as NAHB's long-term forecast indicates that the share of 55+ households will grow every year through 2019, when the 55+ category will account for nearly 45 percent of all U.S. households. “As more baby boomers approach retirement and the average age of the U.S. population increases, many businesses—including home builders—are showing increased interest in designing products that appeal to customers 55 and older,” said Paul Emrath, NAHB’s vice president of survey and housing policy research. View NAHB's full analysis on 55+ households here. Recommend This: Baby Boomers Redefine Retirement With Adventure Activities.
BLOOMFIELD HILLS, Mich., July18, 2012 /PRNewswire/ -- A new generation is redefining retirement by diving into high-energy activities and seeking new experiences – from motorcycle riding and hiking to kayaking and white-water river rafting. The nation's premiere active adult community builder reports that high-energy clubs and activity groups are gaining popularity across the nation, with health and fitness emerging as a top interest among both Del Webb residents and prospective homebuyers. "Recreational interests among Baby Boomers are more diverse than ever before. Sure, golf and tennis are still popular, but now so are outdoor adventure activities like canoeing and kayaking, marathon running, rock climbing, off-roading and even sky diving," said Judy Julison, Del Webb's national director of lifestyle. "I've worked in the industry for more than 30 years and have never seen a more diverse group of people with so many varying interests.
" About Del Webb SOURCE Del Webb. Baby boomers are coming, but from where? Published: Sunday, July 15, 2012 at 1:00 a.m. Last Modified: Friday, July 13, 2012 at 5:49 p.m. Karen and Mike Valentino moved to the Ritz-Carlton in Sarasota. Valentino brought Mucinex to market and decided to settle in Sarasota after he retired. Photo provided by Mike Valentino It was the kind of fluke that can alter the course of a life: A New Jersey pharmaceutical executive found himself gazing out at thunderheads over the Gulf of Mexico from high atop the Ritz-Carlton Sarasota in August 2003. Just named CEO of a feisty, 15-employee startup in Fort Worth, Texas, he was attending a planning session arranged before he joined the company. His new colleagues had asked if he wanted the meeting shifted somewhere more convenient.
"I said, 'No, let's go ahead,'" recalls Mike Valentino. So well that Valentino kept returning as his fortunes rose. The drug was called Mucinex. "Our company just exploded," Valentino says. His company was sold in 2007 to a multinational drug conglomerate. W. SUNDAY PREVIEW: Boomers are coming, but from where? Published: Friday, July 13, 2012 at 12:56 p.m. Last Modified: Friday, July 13, 2012 at 12:56 p.m. The history of Southwest Florida's retirement population was built on military postings to two airfields here in World War II, and family beach vacations down the old Dixie Highway from Michigan and Illinois. But those traditional demographic funnels to Florida have been losing traffic, while total U.S. inter-state relocations have gradually declined from a peak in 1983. With Americans embarking on long-haul moves at a modest dribble not seen since the mid-1950s, where can the state look for its next influx of retirees? The short answer: Follow the money.
While more than 80 percent of the graying baby boom generation is expected to age in place, people who track retirement migration say those lucky enough to have landed in the nation's most affluent regions are likely to make the first big moves. Of course, retirement choices are more than a matter of simple math and geography. How Baby Boomers Will Change Retirement - Many Will Mix Work and Play. Many baby boomers plan to keep working and earning money during their retirement years, but will alternate between periods of work and leisure, according to a survey by Merrill Lynch.
Reinventing RetirementThe New Retirement Survey builds on the conventional wisdom that many baby boomers are not interested in pursuing a traditional retirement of leisure. "Baby boomers fundamentally will reinvent retirement,” said James P. Gorman, president of the Merrill Lynch Global Private Client Group, in a news release about the survey. “With (baby) boomers living longer and remaining engaged and employed beyond age 65, many of the traditional financial assumptions regarding retirement need to be reexamined.”
Highlights of the Baby Boomer Survey Created with guidance from gerontologist and author Ken Dychtwald, Ph.D., The New Retirement Survey offers a preview of the different lifestyles, workstyles and recreation activities that baby boomers envision for their future. Boomer Caregivers Keeping Seniors Out of Long-Term Care Facilities. Booming number of adult employees caring for again parents must be addressed. Aging Gracefully: What Percentage Of Americans Find Getting Old Is Better Than They Expected? What's the upside of aging? Just ask the one-quarter of Americans in a poll released today who say getting old is better than they expected. The biggest benefits: Greater wisdom, appreciation for friends and family, increased confidence and the freedom to try new things, according to the survey, sponsored by Pfizer and 10 health advocacy groups, including the Columbia University’s International Longevity Center, the Visiting Nurses Associations of America, and the National Family Caregivers Association.
Pfizer conducted the poll as part of the launch of "Get Old" a multi-year initiative to gauge Americans’ perspectives on aging. The survey asked more than 1,000 people are 18 to 65+ how they feel about aging. About half of those interviewed say the experience of getting older is just what they expected and roughly one-quarter said it was better than anticipated. Loading Slideshow. 10 Countries Where Retirees Live Large. Retirement in the United States is nice and all, until they ask you to actually pay for stuff. When retirees' nest eggs are a finite and dwindling resource, rising local and federal taxes can put even the staunchest, flag-draped patriotism to the test. If retirees are willing to leave the states behind, the savings can be substantial. [Related: De-Stressing Secrets from Around the World] The folks at International Living crunched the numbers and looked at the price of simple staples, assimilation and staying in touch with family left behind.
The following countries scored high marks not only for their inexpensive living, but for overall friendliness toward American retirees: Panama A retiree has it pretty sweet in Panama, where a program commonly known as pensionado help retirees settle in quickly. Mexico Considering the tensions over the state of Mexico/U.S. immigration law, it's at the very least amusing to consider American workers streaming south to chase their retirement dreams. Spain. Carlos Slim, World's Wealthiest Man, Says Retirement Age For Regular People Should Be Bumped To 70. Feisty Side of Fifty/Baby Boomer Women » Ageism is Dead: They’re Hiring Boomers Big Time! If you’re a jobseeker over 50, you’ve been subjected to a barrage of bad news: you’re no longer valued in the workforce, you’re technically inept, no one wants to hire their mom or dad, you’re too expensive, you’ll be out on sick leave all the time, etc., etc., etc.
But—hold onto your support hose—the truth, it turns out, is just the opposite! The latest job search figures show that boomers, aged 55 and over, are actually landing the most jobs… by far!!! There was a total of 1.9 million new jobs created over the past 15 months and 1.3 million of these went to applicants 55 plus. As they say: do the math!
This means that our hiring figures were nearly double the second highest-ranking age group (25 – 34) who accepted 709,000 of the new positions. Figures were still tough for applicants aged 34 – 54 but, for jobseekers on the far side of 55, the news is fantastic. This means we can stop feeling “less than” because of our age. There never was a better time to be proud of being a boomer. Boomers bemoan age discrimination. Transitioning into Retirement. MetLife Study Finds Contrary to Predictions, Boomers Are Retiring. Mind the generation gaps and advice ethics when life planning - New Model Adviser® Edition. The recent Personal Finance Society (PFS) conference raised two questions that will play a key role in the development of life planning over the next few years; what kind of person are you talking to as a client, and is there a fundamental conflict of interest in life planning?
Broadly, life planning draws together the skills of financial planning and life coaching and the leaders of the movement have, so far, come to the UK from the US, Europe and South Africa. UK advisers have been sceptical whether the probing – often branded too touchy-feely – questions are a good fit for British personalities. However, the UK has been subject to generation-defining social changes that have created the baby boomer group and their successor generation X. Baby boomers were born between 1946 and 1964 and are starting to retire. They have wealth, mostly in property and pensions, and their health, with many expecting to travel or develop hobbies during retirement. ‘So I am separating the two.
Boaby Boomers' financial setbacks will have wide-ranging impacts on retirement. The populous generation, born in the years from 1946 to 1964, is expected to pump billions of dollars into retirement communities as it exits the workforce and enters senior citizenship. Yet new financial realities suggest many Boomers won't be able to afford to move. As the Herald-Tribune's Barbara Peters Smith, reporting on a gerontology conference in Boston, noted this week, the unemployment rate for older workers is at a post-World War II high. Many employed Boomers plan to stay on the job as long as possible because they lack financial security to retire, surveys indicate. Others have been forced into retirement — or the unemployment line — unexpectedly. Last week, USA Today cited a 70 percent decline in net migration to counties "that are primarily retirement magnets.
" Why? Rising poverty rates "This is the first time since the Great Depression we are looking at poverty rates increasing among the elderly. " Medical costs add another layer of uncertainty. Region makes adjustments. The Rise of Boomer Broadcasting. City needs retiree incentives. I think the appointment of a commission to find ways to make Lawrence and Douglas County more appealing to retirees is a very good idea. Lawrence and the surrounding communities enjoy a number of significant advantages in such an effort: Kansas University can provide a multitude of activities for seniors, including the Osher Lifelong Learning Institute run by KU Continuing Education; we are blessed with excellent cultural institutions and programs; the cost of living is moderate; and we have a terrific medical center in Lawrence Memorial Hospital, among other things.
But if Lawrence and Douglas County are going to become a major retirement living center, then we also need to think about the special problems retirees face today and will be facing in the decades to come.... How Many Baby Boomers will Work after Retirement Age? 88% in poll say they're worried about retirement. Retirement worries continue to grow, and the cloud of pessimism has blanketed all Americans. Last month, 88% of 800 registered voters said they were concerned about maintaining a comfortable standard of living in retirement, up from 73% last year, says a national poll out Thursday by Americans for Secure Retirement (ASR). In the past, Americans have differed about what causes the most anxiety. Now, retirement has moved to the forefront, says Celinda Lake, president of Lake Research Partners, a public opinion and political strategy research firm that conducted the poll. Regardless of age, income, education or political party, the poll found that retirement is at the top of the list.
"This recession has been so terrible and so long that we essentially have flattened consumer confidence across essentially everyone in the country," says Bill McInturff, founder of Public Opinion Strategies, which also conducted the poll. Baby Boomers catching up to younger generation's tech skills. Baby Boomers are increasingly technologically savvy, according to a survey commissioned by leading 50+ community website, GrownUps.
More than a thousand Kiwi baby boomers revealed their technological habits in GrownUps annual online survey with results showing the only factor holding people back from using the internet more was a lack of free time, with nearly 50 per cent of respondents saying more free time would enable them to have greater use of the internet. Results from the survey found 97 per cent of respondents are regular uses of social media sites, with 62 per cent of respondents saying they are active users of Facebook. YouTube was also popular among the over fifties, as well as Twitter. Online shopping proved to be a popular use of the internet, with nearly 80 per cent of respondents saying they use the internet to buy products. As well as shopping online, 56 per cent of people also use the internet to research travel destinations and book overseas holidays.
Why Baby Boomers Will Have a Great Retirement. Bc video: Baby Boomer women least prepared financially. Many Wash. baby boomers not prepared for retirement. Retirement Jobs - Jobs for People Over 50. An Aging Population Means New Jobs. Social Security Benefits Greatly Depend On When Retirees Start Collecting. Flee the boomer property flood | Chris Lang. Saga report warns of more pain for 'sandwich generation' Retirement Income | Decline In Home Values Hitting Retirees Hard.
Middle age doesn't stop until you're 70! Today's over-50s show no sign of slowing down. Baby boomers refuse to get old - ABC 4.com - Salt Lake City, Utah News. Americans Re-Set Retirement Expectations -- LOS ANGELES, July 12. Aging boomers have big impact on buying trends. Julia Moulden: OK, Baby Boomers, Ready For Something Completely Different? Boomers choosing to retire to Latin America. Maturity Matters - Active Leisure - You Can Retire- Can You Rework?
The 5 Traits of Baby Boomer Business Owners. The Business of…Navigating Midlife Transitions | Boomers In The Wild. Top 10 Baby Boomer Myths - Separating Fact from Fiction [AARP] Golden Girls 2.0: Shared housing as a retirement strategy | Reuters Wealth. If baby boomers stay in suburbia, analysts predict cultural shift. Boomers’ retirement could be a bust - Personal Finance | IOL Business | IOL.co.za. Boomer consumers come of age. Selling Across the Generations. The Geeks Are Graying. 20 Frequently Asked Retire Overseas Questions - On Retirement. Becoming a Life Change Artist | Encore Careers. Tom Peters / Strategy – Pay Attention To Boomers | Boomer Life Media. Retirement coaches are helping baby boomers cope - May. 31. Advertisers Target the 55-Plus Consumer « SeniorHomes.com. The Death of the American Dream I. Seniors4Hire-Jobs for seniors, mature workers, retirees and older workers 50 years of age and over. Careers | Living Well | Financial Resources | Start Your Own Business | Post a Job - Post a Job | Start Your Own Business | Financial Resources | Senior Living | Job Search.
Singing for Your Supper in Retirement - Kerry Hannon - Second Verse. Barbara Morris | Put Old on Hold on blip.tv. When The Bloom Is off The Retirement Rose . . . What Then? Why is retirement so hard for Baby Boomers? Article: Retirement plan to be about money.
Www.sba.gov/sites/default/files/files/rs384.pdf. Big-spending Boomers bend rules of marketing. Retirement – Boomers Break The Mold.