All Entries in the "Money/Finance" Category
A Baby Boomer’s Age-Old Question
More than 91% of current retirees receive monthly benefits from the government program known as Social Security. The program is very important to seniors, as nearly three out of five retirees receive at least half of their income from Social Security, reports Todd Ratner in BusinessWest magazine.
Furthermore, pensions and other related safety nets that were [...]
Boomer Spending Trends
Baby boomers are retiring in record numbers, but their spending habits aren’t changing, according to a survey from Nielsen.
They found that boomers spend about 5 percent more than the rest of the population.
Their generation accounts for about $230 billion in sales of consumer packaged goods.
Experts say baby boomers tend to make more money and are [...]
Is Selling Your Home the Answer?!
Baby boomers are reaching the age where they need to decide between asset ownership and liquidity. A growing percentage of boomers will use up their savings “between jobs” after age 50 and before retirement. They will go through the process of liquidating their assets at prices that are much lower than a few years ago [...]
Baby Boomers Face Heavy Financial Blow
NEW YORK (Reuters) – Some people can’t wait for the day they retire, but 49-year-old Christiana Drapkin is relieved she’s not at the finish line yet after the rout on Wall Street ravaged her retirement savings.
“Since the beginning of the year I must have lost around half,” Drapkin, a musician, said of her withering savings. [...]
Throwing the Sandwich Generation a Lifeline
Here are some suggestions for investors caught in the middle, according to the North American Securities Administrators Association.
Are you one of the millions of Americans caught in the middle of a generational sandwich—caring for their children and aging parents? If so, you are part of a growing population dubbed the “Sandwich Generation (SandGEN)” and you [...]
Global Economy Impacts Outlook for Baby Boomers
Baby Boomers might redefine themselves and their surroundings by the year 2028 as a result of an evolving global environment and marketplace, according to a project by the Institute for the Future in conjunction with the MetLife Mature Market Institute.
The project’s final report, “Boomers: The Next 20 Years, Ecologies of Risk,” paints a new picture [...]
Boomers Expected to Cutback this Holiday Season
Blame it on the Grinch … the economic market Grinch, that is. Many baby boomers expect to cut back on their 2008 holiday giving, spending and travel due to market concerns, according to a national survey of 947 Americans age 45-64.
The poll, conducted for Thrivent Financial for Lutherans in the midst of market turbulence Oct. [...]
5 Ways to Tame Your Money Fears
Joe Light writes in Money magazine:
Lisa DeAngelis and Randall Cobb look like investing geniuses right now. While the S&P 500 has dropped more than 40% since last year’s peak, the Atlanta couple’s retirement portfolio is sitting pretty, earning 4% or so a year.
DeAngelis, 45, and Cobb, 54, aren’t stellar stock pickers; they aren’t brilliant market [...]
Weathering the Storm
Failing banks, mortgage foreclosures, and an erratic stock market may have you thinking about stashing retirement savings under the mattress.
Beds, though, aren’t the best place to keep money, even amidst 2008’s financial turbulence. Having substantial cash at home is vulnerable to theft and can be wiped out by fire, with no means of recovering the [...]
Hard Times Make Retirement Decisions Tougher
After selling his indoor-air-systems business last summer, Dennis Heller (right) figured he would glide into retirement, reports The Seattle Times.
His plan was to work as a consultant for the new owners for a little more than a year, then officially call it quits. His wife, Mary Jo, would precede him into retirement by a few [...]
Marketers Desire Baby Boomer Dollars
It seems that marketing people have long desired to tap into the baby boomer market. Only problem is our demographic is too huge, too diverse and fragmented, and, for the most part, too independent-minded.
Sure, reaching out to influence 20-year-olds is a lot easier because they are more impressionable. But the marketers are trying, nonetheless, because boomers [...]
What Do We Know About Financial Security?
Greg Kratz of the Deseret News writes that not a lot of Americans, including soon-to-retire baby boomers, feel comfortable about the concept of “retiring.” Kratz cites a recent survey showing, “Just 3 percent of all generations strongly agree that Americans are a financially responsible population.”
Kratz writes that only a quarter of Americans say they clearly understand [...]
Baby Boomer Bankruptcy Numbers Misleading
Dan Owens, director of the 10-year-old grassroots National Active Retirement Association (NARA), a group that carefully studies the boomer and beyond “Age Wave,” says recent media reports over record numbers of baby boomers filing for bankruptcy are not accurate.
The Associated Press newswire article quoted a study by Harvard Law professor and Huffington Post blogger Elizabeth [...]
