BOOMER UPDATE

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Posts Tagged Trends

Market Turmoil To Stall Retirement

Aug 31

Posted by Boomer in Economy, Retirement | No Comments

DOW JONES NEWSWIRES

The latest quarterly retirement survey from Charles Schwab Corp. (SCHW) shows more than half of Americans approaching retirement age expecting to retire debt-free and nearly 90% plan to keep working.

The tally, done by Kelton Research in July, polled people ages 50 to 60. It comes amid a rollicking several years in the markets and economy at large, with many American fearing they would outlive savings and need to work years later than planned to afford retirement.

But the latest survey showed 54% not expecting to delay their planned retirement despite the economy, while 38% said they expected to retire later than anticipated.
wsj.com

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Call off the intergenerational wars

Aug 25

Posted by Boomer in Economy | No Comments

Blaming baby boomers for our economic woes diverts attention from the gross inequalities that have plagued us for decades

These days, intergenerational war seems to be all the rage. “It’s all the fault of the baby boomers” is the new conservative rallying cry. David Willetts, in his book The Pinch, argues that the baby boomers took the money and ran, leaving the younger generation with nothing. Other new books try a similar pitch, such as Ed Howker and Shiv Malik’s Jilted Generation and Francis Beckett’s What Did The Baby Boomers Ever Do For Us? Will Hutton seems to agree.

Not that the cry is new. In France, Nicolas Sarkozy won the presidency by blaming our troubled times on the lax moral standards and antipatriotic slogans of “les soixante huitards”. Before the German elections in 2008, the finance minister, Peer Steinbrück, railed against raising Keynesian-style public borrowing on the grounds that it would saddle future generations with a mountain of debt for which they would never forgive us, a cry parroted only last June by Nick Clegg.
guardian.co.uk

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Baby Boomers Willing to Delay Gratification Now For a Better Lifestyle in their Golden Years

Aug 5

Posted by Boomer in Retirement | No Comments

New MainStay Investments Survey Finds that 76 Percent of Pre-Retirees are Willing to Work Longer and Save More Today to Live More Comfortably Tomorrow

NEW YORK,/PRNewswire/ — The quest for “the good life” continues to drive Baby Boomers to sacrifice today, so that they can enjoy the finer things tomorrow. According to MainStay Investments’ Boomer Retirement Lifestyle Study, 76 percent of the Baby Boomers surveyed (age 45-65 that are not yet retired) say they are willing to spend less now to invest for a more comfortable lifestyle in the future.

“When it comes to lifestyle, Baby Boomers are redefining what constitutes a basic need and what they consider a luxury. We have clearly expanded beyond the three traditionally thought-of necessities – clothes, food and shelter. Our study aims to explore the things in life that are most valued, and to analyze what Boomers say they will do to continue to enjoy a more robust life in retirement,” said Matthew Leung, director and head of practice management programs at MainStay Investments.
einnews.com

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Babyboomers are reinventing retirement

Jun 30

Posted by Boomer in Retirement, Travel | No Comments

Cara Waters FTAdviser

Aviva said babyboomers were reluctant to hang up their hats and intended to travel the world, enhance their social lives and improve their health and fitness.

Despite this ambitious and positive outlook, the research found the reality of the babyboomer’s financial situation might prove to be a rude awakening.

Of those surveyed, 43 per cent of retirees saw retirement as the start of a new, exciting stage of life, 23 per cent would like to be using the time to travel the world and 49 per cent want to spend more time on hobbies.

However, Aviva said it’s research worryingly revealed the difference between reality and fantasy when it comes to retirement finances.
ftadviser.com

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Still Kicking at Age 50 and Beyond

May 27

Posted by Boomer in Uncategorized | No Comments

A growing number of older Americans are exploring martial arts such as tae kwon do and judo as a way to stay physically and mentally fit. With its kicks, punches and take downs, they are finding the sport brings a number of health benefits as well as increased confidence and respect.

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Aging baby boomers may lead drive to legalize marijuana further

May 25

Posted by Boomer in Uncategorized | No Comments

By Matt Sedensky

MIAMI — In her 88 years, Florence Siegel has learned how to relax: A glass of red wine. A crisp copy of the New York Times, if she can wrest it from her husband. Some classical music, preferably Bach. And every night like clockwork, she lifts a pipe to her lips and smokes marijuana.

Long a fixture among young people, use of the country’s most popular illicit drug is now growing among the AARP set, as the massive generation of baby boomers who came of age in the 1960s and ’70s grows older.

The number of people age 50 and older reporting marijuana use in the prior year went up from 1.9 percent to 2.9 percent from 2002 to 2008, according to surveys from the federal Substance Abuse and Mental Health Services Administration. The rise was most dramatic among 55- to 59-year-olds, whose reported marijuana use more than tripled, from 1.6 percent to 5.1 percent.
washingtonpost.com

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A growing number of baby boomers see sports as a way to feel young again

May 24

Posted by Boomer in Exercise | No Comments

BY ANA VECIANA-SUAREZ

The sky is the color of freshly brewed coffee when Liliana Retelny slips her 27-foot shell into the still waters of Miami Beach’s Indian Creek and begins her daily three-hour routine. She rows. She rows as the rising sun stains the clouds, as students practice with their crew teams, as the sounds of a waking city begin to fill the air.

Retelny, 47, is practicing to compete against rowers two decades her junior. The Aventura psychotherapist already has won two silver medals in the Central American Games, placed 20th in World Cup competition and second in her division in Israel’s Maccabiah Games. All this in a sport she took up only four years ago, when her daughter was rowing for her high school team.

“I love it,” said Retelny, who competes under her maiden name, Boruchowicz. “For me this is not work. It is not a matter of discipline. When I’m on the water, I’m the happiest. I feel alive and young.”
miamiherald.com

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Korean boomers in numbers

May 18

Posted by Boomer in Uncategorized | No Comments

Statistics Korea releases data profile of a generation

Mr. B is a middle-aged Korean man, born in 1960 to a rural peasant father and housewife. His generation prided themselves as the unsung heroes of the nation’s rapid industrialization between the 1960s and 1980s, dedicating their lives to hard work and creating Korea Inc., often at the expense of their personal lives. Yet many were left unemployed by the 1997-98 Asian financial crisis. And now they face the daunting task of supporting their elderly parents and helping their children, who struggle with high unemployment and prohibitively expensive housing.

That is the picture of the average Korean baby boomer that was drawn by Statistics Korea in its recent publication, “The past, present and future of baby boomers as seen through the numbers.”
joongangdaily.joins.com

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More people opt for cosmetic work

May 18

Posted by Boomer in Uncategorized | No Comments

Demand leads some medical offices to offer new procedures

BY MARIA SONNENBERG
FOR FLORIDA TODAY

Despite the recession, or perhaps because of it, the anti-aging industry is enjoying a rebirth. Some Baby Boomers may feel that remaining young-looking is no longer a luxury, but rather a necessity.

According to a recent survey by the American Academy of Cosmetic Surgery, anti-aging procedures such as facelifts and eyelid lifts are on the rise, as are injections of Botox and fillers such as Juvederm.

“The Baby Boomers are getting older, but they still feel young and they want to look that way, too,” said Dr. Mark Berman, president of the American Academy of Cosmetic Surgery.
floridatoday.com

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