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When you see someone happily working into their 70's and beyond, you should suspect it might be because it's their career and they love it. Envy them. There is hardly anything luckier than finding the right career and loving it forever.
When you see someone happily working into their 70's and beyond, you should suspect it might be because it's their career and they love it. Envy them. There is hardly anything luckier than finding the right career and loving it forever.
That is all find and great but if your working retail intro your 70s it sad IMO I been in retail for 10 years and i rather cut my wrist and fill my bath tube up with ice and cold water b4 I make it another 10 years.
Also working because you have to at 70 is a big difference than working because your have nothing to do. For me I want to stop working and put my feet up in Belize or some where just as nice.
I know of 3 folks where I work that have retired (from other jobs), but went back to work, for healthcare cov'g. It's a boondoggle. 2 of the 3 would quit today, if healthcare weren't an issue. The 3rd individual has been with the company 40+ years, she could certainly retire, and could've a long time ago. I guess she too, to an extent (too young for Medicare), maybe for healthcare. But in her case, I know for certain, her rich uncle died, and left her very well off. So not sure why she's still there, other than working must be her life.
As a middle boomer (right in the middle), my husband and I are definitely sandwiched. We have dealt with elderly parents who have needed financial help and children going through college.
Actually, when our first parent passed away, our son was 11, daughter 15 so not even near college at that time. In the past 13 years, we've lost 2 more parents and have one left. It's a huge challenge.
My husband and I are both self employed so we are not taking any spots. We work really hard and long hours and depend on referral business all the time.
Keep in mind when the 2007/2008 economic crisis began, the youngest boomer was 43, the oldest 61.
It has now been 7 years - the youngest boomers are just this year turning 50; the oldest 68.
In my profession, I am very concerned about younger people getting started and I do all I can to assist first time homebuyers, in fact, that group is my favorite to work with.
In my husband's profession, he goes to seminars all the time (required as part of his continuing education) and he is always saying he is not seeing many younger people joining his profession - he is a CPA (he does have an MBA as well plus a few other certifications).
There are opportunities out there - you just have to find them - if I were 25, I would volunteer, join some young professional groups and network, network, network.
Thank you for pointing out that the vast majority of Boomers have not even reached retirement age yet! I think there is a LOT of confusion out there as to "who are Boomers." The youngest are 50- the OLDEST are 68. And folks can't get Medicare til they are 65 or FULL BENEFITS from Social Security til they are 67.
When younger folks blame everything on Boomers, they are barking up the wrong trees! The majority of Boomers were only in their 40s and 50s (or barely turned 60) when the economic bust of 2007/8 hit.
So please, stop blaming Boomers for all the problems out there!!!!
Good points made by others, too . . . Boomers are the "sandwich generation" - often still paying for their kids' college education while also helping out with their parents.
Stop the madness - the media must be filled with bitter Gen Xers!!!!!
I'm 65, and had to take my Social Security early, due to being laid off from my office job. I worked part-time for three years, and now just went back to work full time. I'll never be able to retire, but possibly in a few years, I may be able to cut down to part-time again.
I think most of it has to do with not being able to retire. Baby boomers as a generation spent a lot of money. They had a lot of fancy new cars, big houses, spent a ton on their kids, etc. I hope my generation (Gen Y) is a little better with their money. I contribute a decent amount to my 401k (enough to get the full match and more), and am able to put about half of the 5,500 a year into my Roth IRA. My goal would be to retire and live off of only interest earned in my accounts so I could leave a large nest egg to my kids, which would ease the burden for them when it comes to retirement.
It seems to me the Gen Ys are a lot more like the depressioners when it comes to understanding the importance of saving and specifically saving for retirement, just about everyone I know (mid 20s to early 30s) already contributes to retirement.
I usually make $16,000 a year. I will most likely have to work until I physically cannot. After that it will be SS and whatever small savings I have. I hope I really don't get to see old age so retirement money might not be necessary at all.
And why does everyone think *all* the boomers had these great 100k a year careers. I know plenty who have been at minimum to near minimum wages their entire lives.
I think most of it has to do with not being able to retire. Baby boomers as a generation spent a lot of money. They had a lot of fancy new cars, big houses...
Bingo!!! That's the reason why many Boomers can't retire.
They went buckwild on the credit cards (it doesn't really matter on who or what, learn how to say "no" to your kids or parents like all the previous generations instead of blaming them for your bad financial decisions), and it shows with the $17 Trillion dollars in national debt we have accumulated in the last 30 years.
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