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Old 02-17-2010, 04:54 AM
 
Location: Tennessee
34,695 posts, read 33,709,656 times
Reputation: 51935

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You can either read the two page article, which has more detail, or play the slide show from this page:

10 Ways Baby Boomers Will Reinvent Retirement - US News and World Report

From that page there are also links to:


America’s Best Affordable Places to Retire
10 Things You Didn’t Know About Baby Boomers
Find Your Best Place to Retire
6 Ways Employers Will Change 401(k)’s in 2010
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Old 02-18-2010, 07:00 AM
 
28,256 posts, read 39,920,849 times
Reputation: 36764
Interesting. We fit only a couple of those criteria. We are going to travel, be more active, and live well.

We are not going to be in debt, have to work part time, be concerned about income, and we will live longer.

We have a very good LTC plan in place that includes in-home care until death and shared benefits up to a million dollars each. If one of us dies the remainder of the million transfers to the other. We have no debt and have come to this point by being financially conservative.

I'm going to start SS this summer, Mrs. Tek is retiring at the end of September, and we are going to start enjoying everything we've made concessions for our entire lives.

It's our turn.
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Old 02-18-2010, 07:57 AM
 
Location: Forests of Maine
30,691 posts, read 49,476,475 times
Reputation: 19136
"Retirement for boomers will last longer than retirement for their parents"

I can see that. My parents retired in their 60's when their pensions kicked in along with SS.

I got my pension when I was 42, so I should have a much longer retirement than they will have.



"No pension"

While I got mine, I can see where many people today have no pension.
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Old 02-18-2010, 08:07 AM
 
Location: Sierra Vista, AZ
16,133 posts, read 20,833,904 times
Reputation: 8293
Oh Please, that crap was one of the major causes for the housing bubble. Sunshine States overbuilt waiting for the Boomers and slick investors bought those houses at inflated prices so they could clean up when the first wave of boomers arrived. Guess what, the boomers are broke and won't be coming
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Old 02-18-2010, 11:09 AM
 
Location: Central Maine
4,687 posts, read 5,539,836 times
Reputation: 4966
Living longer - I hope so. Both of my parents died far too soon, in their 60's. Personally, my goal is to have as many years in retirement as I put into my career - 34. That would make me .... 89. Sounds like a reachable goal.

No pension - Both my wife and I have CSRS federal pensions, and things would have to be royally screwed up for those pensions to be reduced or taken away. I'm not saying it can't happen, but it's unlikely.

Managing investments - Well, we both have funds in the Thrift Savings Plan, but not a whole lot. I tend to have mine in stocks and bonds, and my wife keeps hers in the G fund.

Required minimum distributions - We're more than a dozen years away from that.

Part-time jobs - I've been looking, but only because I want to work part-time, not because I have to work. In fact, I'm waiting to hear back from a 20-hours-a-week job I interviewed for last month.

Staying active - Absolutely. We took up kayaking a couple of months after we retired, and we love it. We're also walking more (adopting a dog about a year ago has helped with that tremendously).

Sandwich generation - Nope, not exactly. We don't have aging parents to worry about, but we do have two grown children who are, like many now, struggling. We help out when needed, and to the degree that we can.

Lower Social Security benefits - Nope. Neither my wife nor I have anywhere close to a sufficient number of quarters to be eligible for SS. Just yesterday I received my annual SS statement, and I last worked in a job that took out FICA tax for SS in 1977. Our retirement planning included the assumption that neither of us would receive a dime in SS.

Retiring with debt - Yes. We have a mortgage. But no car loans or other big-ticket loans, and any credit card bills are paid in full when received.

Diverse locales - Hmmmm. We intended to sell our house and relocate, but with the housing bubble bursting as it did, we decided to stay put until the assessed value of our house starts going up again. In the meantime, we are in an area we know, and like, and can afford.
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Old 02-18-2010, 12:35 PM
 
6,304 posts, read 4,746,934 times
Reputation: 12909
I could not help myself. I had to google the author, Emily Brandon, of this article and I even found her picture. Her niche is writing about retirement and similar issues. She looks like she is barely over 21 years old. Goes to show that it does not take any experience to write fluff for magazines. And then us old timers, who should be the experts, read it and take it seriously.
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Old 02-18-2010, 07:18 PM
 
2,849 posts, read 3,939,906 times
Reputation: 3256
How will Boomers redefine retirement?? They won't. Won't retire.
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Old 02-19-2010, 08:08 AM
 
28,256 posts, read 39,920,849 times
Reputation: 36764
Quote:
Originally Posted by jrkliny View Post
I could not help myself. I had to google the author, Emily Brandon, of this article and I even found her picture. Her niche is writing about retirement and similar issues. She looks like she is barely over 21 years old. Goes to show that it does not take any experience to write fluff for magazines. And then us old timers, who should be the experts, read it and take it seriously.
There's no reason not to take it seriously. It's just common sense and good observational skills. Anyone who takes the time to think about it and do some research could write the same article.
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Old 02-19-2010, 08:15 AM
 
13,322 posts, read 25,578,684 times
Reputation: 20520
More differences- increasing numbers of my beknighted generation will have one or more divorces, and might have one or more families of children to support well into older age. More people will be living alone than ever. More people than ever before will not have had children, for whatever reason.
As a terminally single, childfree-by-choice person of 56, I was talking to a like friend of 61, who was whining about how much she hates working and has hated every odd job she's managed to get, especially her current one- 27 hours a week, $25/hr., health insurance. She owns a two-family and lives upstairs.
I pointed out to her, "We didn't make any compromise in getting married, in marrying someone where we'd have more financial security. Therefore, we might have to make even tougher choices about making money and being secure." She could have married at least two very wealthy guys who were boyfriends. "I'd hang myself if I'd married Alan or George."
Well, then, work choices might be more compromised, if you weren't willing to marry at least in part to pool resources.
When it comes to men, I just wanna break even.
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Old 02-19-2010, 09:52 AM
 
Location: Boca Raton, FL
5,177 posts, read 8,701,447 times
Reputation: 6199
Smile Working later

I just wish companies would forget the color and age of the person and concentrate on what that person can do for your company. Period. That will change retirement if those that have to work get employment.
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