Boomers Unlikely to Blaze Trails in Retirement
Baby boomers may have blazed new trails in their teenage years and young adulthood, according to The Vancouver Sun, but they’re on track to live out a conventional retirement that looks a lot like that of their parents.
Rather than spending their post-working years whitewater rafting or following their favorite band across the country as their younger selves may have imagined, many baby boomers want to spend their retirement mixing travel with quiet pursuits close to home, new British research reveals.
“Their retirement plans are quite ordinary,” says Rebecca Leach, a senior lecturer in sociology at Keele University in Staffordshire. “Baby boomers are not engaging in sex and drugs and rock ‘n’ roll. They’re tending their gardens and fixing their homes.”
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Category: Boomer Lifestyle, Travel & Leisure
We may not be aiming for white water rafting, but our generaiton will retire differently than our parents did. Just do a little research and you'll find most of us will work way longer than dad did, and many more women will work long into their 60s, too.
Many of us are, and will continute to be entrepreneurs, while our parents elected to work for the man and latch onto that security born of corporate loyalty (which probably doesn't exist for us).
We are retiring much closer to home. Many of us who tried the sunny climates, like myself, came home in favor of family and familiarity.
Our parents relied on hard earned and well-saved money for retirement. Investments paid them pretty well. Financial self-discipline also paid off. Social security and pensions were reliable.
The reason we won't be rafting, for the most part, is that much of our generation failed to plan for retirement, prefering, instead, to count on inheriting family nesteggs. But since our parents lived longer than expected (we're glad!) and we will live even longer, nesteggs were passe don in smaller quantities and our money will have to go much further to support us through retirement, if the world economy even allows us to retire.
White water rafting isn't on the cards for very many boomers, but still, our retirement is not likely to resemble mom and dad's. We may not even be able to afford a garden!
Maryan Pelland
Maryan, unfortunately you are correct that most Boomers will not fully retire. Pensions are of the past, and now self reliance and networking are the driving force for the Boomer generation. The mind-set has definitely changed regarding retirement. Boomers and seniors continue to contribute their valuable experience and knowledge past retirement.
They are becoming entrepreneurs to supplement their income.
I have been visiting this site and decided that I can continue to learn a lot and hopefully can contribute a lot to the dialog. But first, I want to be up front about my intentions. I am associated as a technical liaison with a new web site called the http://www.Over60Exchange.com. This web site was originally created to cater to the needs of “seniors over the age of 60,” and is now being expanded to include “Boomers, Seniors, and those who follow.”
We recognize that many individuals who reach the age of 60 are not physically, mentally, or financially prepared to enjoy the so-called “Golden Years.” In order to meet the challenges we face in these days of great uncertainty, many Boomers and Seniors need to re-examine how they approach and solve problems. Over60Exchange is developing guidelines to help Boomers and Seniors evaluate and evolve their current “mind-sets.” Those who are willing to engage in critical assessments of current mind-sets can observe and/or participate in online forums focused on “personal reinvention.”
I invite you to check us out at http://www.Over60Exchange.com. And remember, we are evolving this web site. You can watch the progress and offer suggestions. Then, when we are ready, you can participate in “Personal Reinvention.”
I look forward to your comments and suggestions.
Cathy Warren
So much talk about retirement and our "Golden Years." Are we even in the same generation? Sounds like the topics I hear my parents discussing (my Dad retired a couple years ago — in his late 70s). I'm in my mid-fifties, have two toddlers under the age of three, certainly NO grandchildren, go surfing, kayaking, hiking, play tennis, run 10k races regularly, have no aches-pains-or health problems, and the idea of retirement is a far off notion at least 15 or more years away. My coterie of friends (all of us Boomers) all have young children at home, and businesses to run and similar lifestyles to my own. I've not heard a single friend talk of retirement. Get a grip, we are not old … yet.
Hi there, I've been enjoying reading the Boomer Cafe for a while now, and I just had to comment as this is something I've discussed on my own video blog recently.
Most of us Boomers are getting close to retirement, and a lot of my friends aren't sure what to do with themselves. One thing I've been thinking more Boomers should do is get devoted to charitable causes as a sort of encore career. We've got the time, the experience and the professional contacts to make a real difference. We tried to change the world in the 1960s, maybe we can really make an impact in our 60s.
I discussed this here: http://www.boomerfile.tv/index.php/2008/10/give-b…
Let me know what you think,
Cheers, Lorne Frohman
What we Boomers are going to do when we retire is a topic of much speculation. Since the first of the Boomers just turned 62 this year, it is a little early to come to conclusions. Given the economic structure of our times it is obvious many of us will continue to work but in what way? I doubt we are anxious to stay in high stress environments, if we can help it.
I suspect we will find our 60’s closer to the 60’s when we challenged the notion that material success is the key to satisfaction, lived simply and green, took time to smell the roses, did our own thing, expand our minds, saw the world, sought inner peace and peace for the world. Perhaps we can still reawaken the dream that called to us so long ago and insure this time of life is our best yet.
For opportunities to pursue a self-directed lifestyle check out boomers-guide-to-our-60.com
Sorry. It's boomers-guide-to-our-60's.com
OOPs. OOpps, OOPs. No' that's boomers-guide-to-our-60s.com
There are options.
Option #1
As a expert in a recent news article stated, "The Baby Boomers are going to have to work longer and eat less,". "And go back to what my mother was doing — saving string."
For some that is a distinct possibility.
Option #2
For others that are willing to think more creatively there is another option.
There is another option available as it relates to cost of living, outsource your retirement!
What I mean by outsource your retirement, is that you can dramatically reduce your cost of living by moving to Mexico.
Here’s our boomer retirement in Mexico story.
Eight short years ago, when the dotcom bubble was bursting in and around us in Silicon Valley, California, my husband and I decided to do something different.
We decided to shutter our business in Silicon Valley and check out of the rat race for a while and travel Mexico. We were your classic workaholic professional couple and had not had a 10 day vacation in more than 18 years!
During our three month trip, we wound up buying a fabulous modern Mexican villa on the shores of Lake Chapala. There is a decent sized English speaking expat population in the village of Ajijic.
We came home with the plan to sell our Los Gatos abode and get out of Dodge. Which we did.
We packed up and moved to Mexico.
We are sooo glad we did what we did and have not looked back.
The Lake Chapala area has a great quality of life and we can live on one social security check because of the great cost of living with out scrimping.
We live in a Modern Mexican home with over 3,000 square foot construction and per year pay under $100.00 US in property taxes (garbage pick up 6 days a week included).
We own two homes out right without mortgages. All of this may sound like wealth. But trust me we are very middle class that found a way out.
Happily Retired Boomer in Ajijic, Mexico,
Susie
Casa Preciosa, Ajijic, Mexico
http://www.CasaPreciosaAjijic.com
Susie,
This is a fascinating story, and you've got my attention. Please tell us more!
David
After working for x-amount of years, I think relaxation really is key. You've paid your dues, now just kick back!
If you're got a hunger to travel, do it! See the world! Yes, it has the potential to be expensive, but there are so many options for baby boomers these days. For example…
AARP is a great source of services and information that can be beneficial to the quality of life. What's great about AARP is that a membership comes with prescription and travel discounts!
AARP has teamed up with talk show host, Cristina Saralegui and made a fun, customizable video and you're just a click away from being the next guest on Amigos Live! Check out http://www.upclosewithcristina.com/video to learn more and make your own video!
Also, you can enter to win an all inclusive trip for 2 to Miami while you're checking out the site! (And even if you don't win, there's still those great travel discounts that come with the membership!)
Definitely check out AARP for yourself or a loved one. There are really are some great benefits to joining!
I hope it's alright that I commented on your blog — wanted to let you know about the fun video with Cristina and AARP's great benefits. If you have any further questions, please don't hesitate to email me.
Thanks!
Isabella Coldivar
AARP Ambassador
[email protected]
Isabella,
Terrific comment. Thanks for taking the time to write, and might I suggest that you consider submitting a story to BoomerCafe on this issue?
David Henderson
Co-Founder
BoomerCafe.com
Hey David!
Thanks so much for the kind words! I'd love to submit a story — just let me know how!
Thank you!
Isabella