A Look at Baby Boomer Retirement

Today, the baby boomer retirement wave is upon us. The boomers are the people who were born between 1946 and 1964. This generation has made a significant change to the world as we know it. Similar to how they have made change and brought progress to our society, this generation of individuals will also leave their mark in history as such a large segment of the population will be retiring at the same time.

This generation has its own trend of retirement life. The way baby boomers retire is quite different from the way previous generations have retired. Analysts have studied baby boomers and their attitude towards retirement.

While a lot of older generations have brought about the normal retirement age of 65, the baby boomers retirement proves to be different. About 76% of the baby boomers are planning to go on with their careers and earn more for their retirement and whatever else they have to pay off. Some baby boomers that choose to veer away from their careers do not stop working altogether, but are venturing into other careers.

The majority of the baby boomers want to relax during their retirement but they do not want to give up working either. While some baby boomers continue to work past the normal retirement age because they have unpaid debts and mortgages, there are baby boomers who continue working because they enjoy the mental stimulation that working gives them.

Baby boomers take their health and wellness very seriously. A lot of baby boomers invest a lot in their health care. They worry about major diseases, paying for their health care or ending up in a nursing home during their retirement.

While it is quite common to encounter empty nesters that have relied solely on their social security during their retirement, the baby boomers are turning out to be quite different. The baby boomers approach is very proactive. Most of them have planned for their retirement by accumulating financial resources. They base their decision to retire upon how much they have saved. A lot of baby boomers are not scared of retiring, because they are well prepared.

Baby boomer retirement is not about living a sedentary lifestyle. Just as they want to continue working, they lead an active lifestyle. They remain fit and healthy despite their age, thanks to their outlook on health and wellness.

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