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Baby Boomers Retire Now What?


As Baby Boomers retire and transition into a new life many wonder what they will do with the 2000 plus hours they used to give to a job, business, or career.

Feeling lost and even depressed many join numerous clubs and activities just to keep busy. Have you ever heard a retired person state, I am busier now than I ever was before?

The other extreme is the retiree who sits around wondering what to do with all of their time. Do you identify with either of these scenarios?

Recent studies show that continuing to be productive in retirement benefits you, the economy, and society. Following are four tips to help you make the choices that best benefit you.

1) First of all, anticipate the stress of retirement. What stress can there be in retirement? Retirement changes life dramatically.

For example one week you are working and the next, no matter how well you planned, you are no longer going to work. Your sense of belonging to a group, your financial situation, your self-image, and your leisure time are all affected. Preparing for this transition by understanding and accepting it is a start, but not always easy.

Realize when you retire, your life is not over. You now have an opportunity to do something new, different, and productive. It is never too late to begin something new. All it takes is the desire to learn and the willingness to take action.

2) Retirement for Baby Boomers can be the perfect time to give back value, discover your true purpose, and make a contribution to the world. Now is the time to take action on your dreams. What have you always wanted to do? What have you put off doing due to work and family commitments?

3) Have you considered the possibility of a second career? You may expand a hobby or become a consultant in the field of your expertise. Have you thought about starting your own business or going back to school?

4) Next, take time to update your goals and set new ones. Review how you have spent your life so far. What makes you happy?

If you are having difficulty, choose from the following activities:

  • Choose a challenging activity; build a blog to share your ideas. Blogs are great for building a business, journaling about what is important to you, or getting the word out about a product, service or a non-profit organization.
  • Study a new subject. Learning new things is great for longevity; and is definitely good for your brain cells and happiness.
  • Talk to others every day, build relationships. You can build relationships locally and with the Internet you can connect with interesting people all over the world.
  • Stay focused in the moment. Dale Carnegie stated it best. He said, "live in day tight compartments." Use your senses to bring you joy. Use your eyes to notice other people. How can you help or be of service? Use your sense of smell to enjoy dinner cooking or the damp earth after a rain. Use your ears to listen to the wind, the water, your family or a dog barking. Taste your food. Savour every bite. Notice the texture, sweetness or sourness. Touch a velvety rose, hug your family and friends, or stroke a kitten.
  • Be thankful you are able to experience and share all of these things.

When you have worked for many years transitioning to retirement can leave you feeling lost, even depressed.

Many retirees keep themselves overly busy to avoid the pain of loss or they have too much time on their hands and do not know what to do. It is up to you to reach out to others, develop new skills, build a business, blog about your experiences, and keep yourself excited to be here now.

Remember that continuing to be productive in retirement gives you great benefits, as well as, the economy and society.

As Baby Boomers retire each boomer has over 2000 hours a year to reinvent their lives. What are your plans? How are you reinventing yourself?

More Than a Third of Baby Boomers Are Making This Big Retirement Mistake — The Motley Fool


When you picture retirement, perhaps you have a clear idea of how you want to spend your time. Maybe you want to visit with family, travel, learn a new hobby, volunteer, or sit back and relax — or enjoy a combination of all these.

But when you think about what age you want to retire, is your vision as clear? If you’re like one third of baby boomers, the age aspect of retirement is still hazy. Around 23% of boomers say they’re not sure when they are going to retire, according to a Harris Poll survey, and another 11% say they haven’t given it any thought at all.

Dollar bills on a table with a stopwatch

Image source: Getty Images.

That may not seem like a big deal, but not having a retirement age in mind makes it much more difficult to plan. When you know what age you want to retire, you can get a better ballpark idea of how much you’ll need saved before leaving your job forever. If you decide to wing it by retiring whenever you feel like it, there’s a good chance your savings won’t be aligned with your timeline.

Fortunately, choosing a retirement age and coming up with a plan to ensure you’re prepared isn’t as difficult as it may seem.

The first step toward retirement: knowing when to retire

You may have a general idea of when you want to retire, but nailing down a specific age helps ensure your retirement plan is as accurate and pragmatic as possible.

For example, you may plan to retire between age 65 and 70. That may sound pretty specific, but if you expect to need $50,000 per year to cover all of your basic expenses in retirement, retiring at 65 rather than 70 means an extra five years’ worth of expenses that you’ll need to be able to cover — or $250,000.

The sooner you pin down a specific retirement age, the more time you’ll have to figure out how much you’ll need to have saved and to create a realistic savings plan. The earlier you retire, the more money you’ll need to have saved — within a shorter timeframe. But if you know you’ll be holding off on retirement for a few years, you can adjust your plan accordingly.

It’s a good idea to plan on retiring earlier rather than later, in case the unexpected happens and you become unable to work. If you’re planning on waiting until your 70s to retire, but you lose your job at age 60, you may be forced into an early retirement — whether you’re financially ready or not. Or you could get sick or become injured, which could prevent you from earning wages.

So how do you choose when to retire? Much of it comes down to what you already have saved and how much you’ll be able to save before retirement. For instance, if you’re 40 years old with $50,000 saved for retirement and you contribute $200 per month, which earns a 7% annual return. At that rate, you’d have around $423,000 by the time you turn 65. But what if you decided to retire a few years earlier at, say, age 60? All other factors remaining the same, you’d have just $292,000 saved. If that’s not enough to make it through retirement, you’ll need to either hold off on retiring or supercharge your savings to boost your retirement fund by age 60.

Keep in mind that Social Security also plays a big part in choosing your retirement age. You don’t necessarily have to claim benefits right when you retire, but retirement and Social Security usually go hand in hand; many people start claiming benefits when they leave their job. And how much you’ll receive in benefits depends on the age at which you start claiming them.

How Social Security affects retirement income

The earlier you claim Social Security benefits, the smaller your monthly checks will be. While you can claim as early as age 62, you won’t receive 100% of the benefits you’re entitled to unless you claim at your full retirement age (FRA), which is between 66 and 67 depending on the year you were born, determined by the Social Security Administration (SSA). If you wait to claim until after your FRA (up until age 70), you’ll receive a bonus each month on top of your full amount.

Again, while you don’t have to claim benefits and retire at the same time, you can maximize your retirement income by being strategic about the age at which you retire and start claiming Social Security benefits.

For example, say you’re 50 years old, you have $50,000 saved, and you’re contributing $200 per month in a fund that earns a 7% annual return. For this example, your FRA is 67, and you’re entitled to $1,300 per month in Social Security benefits if you claim at that age. If you were to retire at 62, you’d have around $156,000 saved on your own. If you also claim Social Security at that age, your benefits would be cut by 30%, leaving you with $910 per month — or $10,920 per year.

If instead, you were to retire at 70 and you continued saving at that rate, you’d have about $292,000 saved by that age. By waiting to claim Social Security until age 70, you’d receive a 24% boost on top of your full amount, giving you $1,612 per month — or $19,344 per year.

There are many factors involved in planning for retirement, but the first step is deciding when you want to retire. The sooner you choose your ideal retirement age, the easier it will be to plan ahead and figure out how much you’ll need to save now to reach your retirement goals.

Get set for Baby Boomer property sell-off


Hundreds of thousands of homes will change hands over the next two decades as Baby Boomers’ properties are passed on to younger generations.

The proportion of older homeowners has been gradually increasing over time, from 15.8per cent of homeowners in 2001 to 16.8 per cent in 2013.

At the 2013 census, there were 536,475 people aged between 50 and 64 who said they owned or partly owned their homes.

At a rate of two people per household, that would mean 268,200 houses that might be sold or left to estates over the next 20 or 30 years.

* Taxing capital gains not the Kiwi way, developer and investor says
* Inheritance tax good economics, and the politics may be better than they seem
* CGT would make it harder to keep a roof over everyone’s head

 “The proportion of the total population who might sell or leave property to their children has been edging up, which is unsurprising given what we know about the age profile of the population,” said economist Gareth Kiernan, chief forecaster at Infometrics.

Researchers at the London School of Economics (LSE) concluded in 2013 that inherited wealth has been on the rise in Britain and France since the mid-1970’s, accounting for about 8 per cent and 11 per cent of people’s income.

But Kiernan said young people should not hold out hope of an inheritance as the solution to high house prices. 

“The trouble with increased life expectancies is that, in general, by the time you inherit anything from your parents, you’re past the point of really needing that financial assistance.

“The only way I could see this inequity being resolved in a relatively timely manner would be for elderly people to start leaving more of their estate to their grandchildren rather than their children,” he said.

At the 2013 census, there were 536,475 people aged between 50 and 64 who said they owned or partly owned their homes.


At the 2013 census, there were 536,475 people aged between 50 and 64 who said they owned or partly owned their homes.

“Anecdotally, we’ve seen an increased proportion of middle-aged/older working people helping their kids into the housing market via loans/gifts/equity sharing, and there is a section of older people that are conscious of the difficulties for young people to get into the housing market.

“However, at this stage, I doubt there is enough of a trend there to believe people’s behaviour will resolve the intergenerational inequity any time soon – either through financial assistance while alive or through inheritance at death.”

Kiernan said Boomers exiting the housing market would not present a risk to house prices.

“The migration boom of recent years has meant that population growth has been unexpectedly more concentrated in the 20 to 40 age bracket. This additional demand for housing has made conditions that much more favourable for Baby Boomers looking to downsize or cash up. Migration is obviously easing now, but the under-supply of housing, at least in Auckland, doesn’t look like it will significantly shrink any time soon.”


Some countries apply a death or inheritance tax on assets. It’s been argued it’s a fairer way to tax wealth, because it captures the end result, not the twists and turns of a person’s financial life along the way. There’s also arguably less of a disincentive to wealth creation.

In Britain, you pay 40 per cent of any estate worth more than £325,000 ($629,486) if it is not left to a spouse, charity or amateur sport club,

If a home is given to children or grandchildren, the threshold increases.

Last year, The Financial Times reported that inheritance tax receipts in Britain exceeded £5bn for the first time and were at their highest level since the 1980s, as a proportion of national income.

Shamubeel Eaqub: A financial transaction tax would be better than a death tax.


Shamubeel Eaqub: A financial transaction tax would be better than a death tax.

Kiernan said there was little political will to introduce this in New Zealand. The Tax Working Group allowed relief for inherited assets in its design of a capital gains tax and was told not to consider an inheritance tax.

His colleague, Brad Olsen, agreed.

“A death tax is viewed by many to be a second tax on earnings and savings, as someone who’s saved all their lives and worked hard for their finances, which were taxed at the time they were earned, would face their saved assets from being taxed again.

“New Zealand’s capital gains tax debate has highlighted that Kiwis want to keep personal and household finances separate from investment finances, hence the Government barring the Tax Working Group from including the family home from a capital gains tax. If we as a country are not willing to tax our house for capital gains, there’s unlikely ever to be political will have a more comprehensive death tax.”

Economist Shamubeel Eaqub said a better option would be a financial transaction ax.This would apply a small charge on every financial transaction executed,.

The Tax Working Group said it did not recommend such a tax at this point.

Portland pushes ahead with effort to become more senior-friendly


Studies show Portland’s aging population, across every racial and economic divide, will change dramatically in the not-too-distant future.

Population projections by Metro across the Portland area through 2060 show baby boomers, Gen-X, and even millennials will all eventually add to an already aging population.

In 2013, Portland started studying that change and designing ways to help older people stay connected to the community.

“I haven’t seen it reach out to me. I don’t know. But I’m doing OK,” said retired Portland Professor Irene Hecht.

“We’ve made a lot of progress. And the project was initially a research project but evolved into a project that was in coordination with the city of Portland and later Multnomah County,” said Portland State University Professor Doctor Alan DeLaTorre.

DeLaTorre told Portland’s City Council in a report Wednesday that efforts to set aside affordable housing for seniors, keep them involved in the community and connect them with employment opportunities are all working better than when those studies started.

But he says more can be done.

“Including things like dementia-friendly aspects,” said DeLaTorre. “How does somebody who’s experiencing dementia or Alzheimer’s or other cognitive impairment use the city in a way that they have not been able to use it, in the future.”

City Commissioner Nick Fish wants to push the senior-friendly effort forward because he believes seniors are vital to a vibrant community.

“We view them as a tremendous resource in our city. So, whatever we can do at a policy level to encourage them to move here and live here is a good thing,” said Fish.

Hear from Dr. Alan DelaTorre, who has studied Portland’s aging population, and City Commissioner Nick Fish:

Steven Harrington: Baby boomer generation brought progress, not death


They called our parents the “Golden Generation,” but we the baby boomers are way more golden. First of all, sure, they suppressed the Nazi regime and overcame the Great Depression, but they also dropped two atomic bombs that incinerated more than 100,000 Japanese innocent men, women and children back in ’45. Now that’s terrorism. Meanwhile 60 million humans were killed in WWII; and in the Korean War, another 200,000. We can thank these “Golden” boys: Hitler and Mao and Stalin for mass atrocities in the ’40s and ’50s. These were not “golden” times. They were the times that tried men’s souls.

We, on the other hand, brought to light civil, women’s, gay, animal, abortion and human rights, just to name a few. The black man was being heard, the gay man was allowed to be in the open, and the woman was getting out of the proverbial kitchen, finally.

As a group, baby boomers are the wealthiest, most educated, most active, and most physically fit generation up to the era in which we arrived, and are amongst the first to grow up genuinely expecting the world to improve with time. We are also the generation that received peak levels of income; we could therefore reap the benefits of abundant levels of food, apparel and, now, retirement programs. We, as a whole, are more educated, more liberal and open-minded, more affluent, better prepared for the advent of the 21st century, and we live longer.

The music was rockin’ and more diverse, from Simon & Garfunkel to Creedence Clearwater Revival, Beach Boys to The Doors. It truly was an Age of Aquarius, and we brought it to fruition. We, without a doubt, changed the face of the 20th century. There was new technology — VCRs, DVDs, Netflix, the iPad, the smartphone, the computer, ESPN, MTV, the internet, pacemakers, kidney transplants, CAT scans, MRI machines, as well as the exploration of Mars and beyond, just to name a few.

Don’t tell me that we, the Baby Boomers, haven’t been “Golden.” We never dropped the bomb on innocents, or exterminated 60 million. So “don’t talk about my generation.”

Steven Harrington


The Intellectual Dark Web Is For Baby Boomers | Ilhan Omar


The Intellectual Dark Web or “IDW” has reached great fame and notoriety for their supposed bravery. Figures like Ilhan Omar make it very clear that they don’t have any. They just make baby boomer men happy. #IntellectualDarkWeb #IlhanOmar #IDW

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Baby Boomer Music – Good Stuff


I am a Baby Boomer who loves Baby Boomer music. I am a product of the 50's and the 60's. Honestly, I do like some genre of music recordings from all periods of time, but I love just about everything to do with the music I listened to while growing up. I'm in my 60's now and I will still pound out the drum roll on a table when "Wipe Out!" is played on the radio.

I vividly remember the major changes that occurred in new trends as they happened. The late 50's had the "do wap" sound of black singing groups and white groups and the message was always very simple. Boy meets girl, "puppy love" takes over, boy and girl break up, and sadness sinks in … until he meets a new girl.

In the early 60's, boys got involved with cars as well as girls ("She's real fine, my 409!"). Soon, the boys were picking up girls in their cars and heading for the beach. If you lived in California you went surfin. If you lived on the east coast, you hung around the neighborhood and sang in harmony with your bills.

And then came the British Invasion in the early 60's. For awhile, American singing groups took a backseat to the groups from Great Britain. The culture most definitely changed. We left the innocence of life and moved into a new eclectic state. It became down right bizarre. The culture coarsened life here in the USA.

The creativity of the music, however, was amazing. Groups and singers from both countries (England and the USA) were banging out hit after hit as music became more daring. Classic rock n 'roll, country rock, folk, R & B, and beautiful ballads all took center stage. Creedence Clearwater Revival and James Taylor had the same fans.

Unfortunately, the Vietnam war split the country and became a big part of the music scene. The songs mock the war and the United States at the same time. It went overboard and really attacked the military. The music, I think, actually helped to cause the hurt feelings that exist between the two camps. Woodstock became an anti-war party. It became the fashionable thing to do for many.

For me, the party was over. They were raining on my parade and it would never be the same again. The 70's produced a lot of terrific songs that continue to be enjoyed today. Same for the 80's. I have not cared much for what came after that.

For us Boomers, our creative sound was gone by the end of the 60's but it was great fun while it lasted. As my Dad always said "those were the days." Hey, someone turn up the radio … they're playing our song.

Letters: Talking about the elderly — er, senior citizens — um, make that ‘perennials’


Mere words are no match for the course nature takes

Re “In a new age, nobody’s getting old” by Robert Weisman (Page A1, March 8): Words like “elderly” and “senior” have acquired negative connotations among aging baby boomers, some of whom prefer to be described as “perennials” — plants that are reborn annually. The irony here is that a natural phenomenon such as aging does not simply disappear merely by renaming it; instead, attempting to sweep aside words that historically have denoted wisdom and acquired experience (as well as physical decline), we deplete elders and seniors of their generative power to give wisdom and acquired experience to the next generation.

Maria G. Mackavey


Sure beats the alternative

We boomers need to get over ourselves. Of course we are getting old, and that is far better than the alternative.

A number of years back, a friend said, “Well, 60 is the new 50,” to which my husband replied, “Really, then why are you bald?”

Embrace each age with graciousness.

Christine Beagan


Be careful what you wish for

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To all my fellow senior citizens who don’t want to be called “seniors”: Be careful what you ask for. Once they get rid of the “senior” moniker, then they will get rid of the senior discount.

Joanne Fisher


What you call her is not foremost

As a 71-year-old, I don’t care what you call me, as long as you don’t expect me to play second fiddle to younger people if I ever need an organ transplant.

Felicia Nimue Ackerman


The writer is a professor of philosophy at Brown University.

How to Win Visitors | Business


ACME — Americans may travel less in 2019 than they did last year, Erin Francis-Cummings told hundreds of travel experts gathered in Acme for the Pure Michigan Governor’s Conference on Tourism.

She works for research firm Destination Analysts, which has contracted with more than 170 travel industry clients. The company’s latest survey, titled “The State of the American Traveler,” suggests that travel businesses across the nation could see a dip in activity in 2019.

Leisure travel optimism for 2019, as measured by survey respondents’ expectations of spending on travel, is low. Just 32.2 percent of Americans surveyed by Destination Analysts expect to spend more on travel in 2019 than they did in 2018, Francis-Cummings said. About 57.1 percent expect to spend less on travel this year.

Despite those scaled-back 2019 travel plans, other survey responses reveal some good news for Michigan travel professionals.

“They’re still holding onto their beach destinations,” Francis-Cummings, keynote speaker at the three-day conference, said of Americans.

Michigan has more than 3,000 miles of shoreline, much of it sandy beaches. That should be reason for Americans to visit Michigan.

Beaches frequently are touted by the Pure Michigan advertising campaign. But the industry apparently needs to shout that message louder, at least in some corners of the nation.

Francis-Cummings screened a series of video interviews showing a handful of Americans’ thoughts about Michigan.

“When I think of Michigan, I think of the Great Lakes and Detroit,” one person said in the video. “It doesn’t have a very strong destination image.”

Other speakers in the video talked about their perception of Michigan as a place of snow and cold. Several seemed unable to visualize any image of Michigan beyond the word “Detroit.”

The keynote presentation highlighted the fact that different generations seek different things when they travel.

“Generation Z really loves Los Angeles and New York,” Francis-Cummings said of young travelers born after 1995. “Baby Boomers really love Las Vegas.”

Young travelers also are attracted to Denver and Seattle, she said, while older travelers like New Orleans and San Francisco.

Between scheduled conference sessions, attendees wandered next door to a room filled with exhibitors. The space was filled with booths touting travel publications, hotels, web design services, window cleaning, the Detroit Zoo, pest control, the Detroit Convention & Visitors Bureau, food service, mattresses, AAA, and heating and cooling equipment.

Exhibitor Mike DeTavernier worked the Universal Laundry Machinery booth.

“Next week, we’ll be going to a fire chief’s show,” he said. “But this is the big one for us.”

Universal Laundry Machinery, based in Westland, sells in a territory that covers the entire state — except a portion of the western Upper Peninsula. The company does between $3 and $5 million in business each year, DeTavernier said. It attends four or five trade shows a year primarily to build relationships. Most commercial clients use their laundry machines 12 or 16 hours a day, he said, but the machines can last 10 or 15 years before they need to be replaced.

Destination Analysts’ research revealed that people who seek out national parks are a special breed of traveler.

“A large number of visitors who want to come to Michigan have visited a national park in the last 12 months,” said Francis-Cummings.

“What sets national park travelers apart is their cultural interest,” she said. “They’re also pretty into food. We think they are hyper-informed travelers.”

Midwest residents show the highest level of interest in visiting Michigan — a survey result that surprised no one in the Acme audience.

“You have a lot interest in the Southeast as well,” said Francis-Cummings. “You’re getting a lot of interest from the millennials.”

Other scheduled sessions addressed networking, use of social media to market travel destinations, crisis management, and equitable and inclusive spaces.

3 Reasons Baby Boomers Are in Big Trouble When It Comes to Retirement


In 2019, many baby boomers are nearing retirement, if they aren’t there already. Unfortunately for many in this generation, retirement may not be all it’s cracked up to be. In fact, for far too many boomers, retirement is likely to be fraught with financial worries. 

Stanford Center on Longevity’s recent report on retirement preparedness points to three big reasons listed below. The good news, though, is that there are steps they can take to salvage the retirement security they deserve. ” data-reactid=”12″>Why is the outlook so grim for some boomers? The Stanford Center on Longevity’s recent report on retirement preparedness points to three big reasons listed below. The good news, though, is that there are steps they can take to salvage the retirement security they deserve. 

Older couple looking at financial paperwork.

Image source: Getty Images.

1. Baby boomers have less total wealth than older retirees

According to the Stanford center, boomers in 2014 were behind on nearly every metric of household wealth. 

Mid-boomers had less total household wealth than retirees a decade older. They also had less home equity. And among those age 55 to 60, their total household savings were well below what prior generations had saved by those same ages. 

2. Boomers have less in retirement funds 

It’s not just total savings where boomers fall short, either. They also have much less money in retirement savings plans, like 401(k)s or IRAs.  

3. Boomers have much higher debt levels 

While boomers are behind in savings and household wealth, they’re far exceeding elder counterparts on debt. Around two-thirds of baby boomers were indebted in 2014, compared with 20% of people in the prior generation and 40% of those born before 1940.

Boomers were not only more likely to have debt, but the levels they have are higher. Among boomers with debt, mid-boomers had average outstanding balances of $120,000. And those from 55 to 60 had higher debt-to-income ratios versus the prior generation at the same age range. 

Are boomers doomed?

Less savings, higher debt, and less wealth are enough reasons for boomers to be concerned. But they also have to contend with the fact they’re likely to live longer, and so they’ll need their wealth to last longer than generations before.

But this doesn’t mean boomers need to give up on a happy retirement. There’s still time to make lifestyle changes — especially for younger boomers who haven’t left the workforce yet. 

Options include:

  • Taking advantage of catch-up contributions: As you get closer to retirement, you should take advantage of the option to contribute substantial sums to tax-advantage accounts. For 2019, you can contribute up to $19,000 to a 401(k) with pre-tax dollars. If you’re over 50, you can make additional catch-up contributions of $6,000. Depending on your income and access to a workplace retirement plan, you can also make tax-deductible contributions of up to $6,000 to an IRA, and additional catch-up contributions of $1,000 if you’re over 50. Max out these accounts if you’re behind on savings. 
  • Working longer or phasing-in retirement: Many boomers hope to remain healthy and active long past traditional retirement age. Consider leaving the workforce later and doing it in stages. You may be able to go part time or consult for a few years before officially quitting for good. While you’re still working, add as much as you can to your nest egg. 
  • Delaying Social Security: If you can wait until after full retirement age, you can earn delayed retirement credits that boost this source of guaranteed lifetime income. 
  • Making a debt payoff plan: If you can manage to become debt-free before retirement, you’ll be in much better shape. Try the debt snowball or debt avalanche methods to pay off your debt as soon as you can. 
  • Downsizing: Consider moving to a smaller home to eliminate or reduce your mortgage. A smaller home should also have lower property taxes and reduced maintenance costs. 
  • Moving to a lower cost-of-living area: You can move to a more tax-friendly state, to a place where the cost of living is lower, and perhaps to a walkable area so you can eliminate one or both cars in your household. 

Being behind on savings or having a lower net worth than the prior generation doesn’t mean your retirement has to suffer — it just may look a little different than you expect. 

Boomers should act today to boost their retirement security

Stanford’s report makes clear that many boomers are in a worse position today because of the housing market crash and resulting global recession in 2008. Whether you had bad luck because of the recession or simply haven’t been able to amass a lot of money, there are steps you can take to secure your retirement. 

Boost your savings, pay down debt, or scale back your cost of living if you’re worried about your money potentially running out. The sooner you act, the more secure your future will be. 

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