Baby Boomers and Retirement
Baby boomers are people between the ages of 1945 and 1964 and make up on of the largest and prosperous generation in the United States history. Baby boomers retirement is of great concern today. Many are facing retirement and becoming eligible for pensions, and benefits from the government, such as Social Security and Medicare. Many boomers are facing early retirement at the age of 55 but are they really ready for retirement? Most will not be ready for retirement as many of them spent their money as fast as they had earned it. Therefore, they are in high debt because they wanted things now and charged things to their credit card, instead of putting the money away for retirement. Some will be forced to work through retirement because they do not have money saved, others by choice.
Many young active baby boomer future seniors are looking for ways to work at home or at a job of choice. They cannot see themselves just sitting around home and not do anything. Many may want to change careers or get into a new business at home they always had wanted to start but could not because of work and family or other reasons. Baby boomers are pursing new interests or an old one after a hectic career and raising a family.
The overall picture, many baby boomer households have not accumulated enough savings throughout their careers and are faced the rude shock that the cost of living will be much higher than anticipated and most will be forced to live on government benefits alone.
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