Category: Money/Finance
Baby Boomers Fear Retirement Years
Retirees and workers on the verge of retirement have many concerns about their continued financial security. Baby boomers and seniors don’t know what expenses they may incur in retirement and are concerned that they will end up in poverty.
Financial Mistakes to Avoid for Baby Boomers
The majority of baby boomers are woefully unprepared for retirement, reports U.S. News & World Report. In large part, this is because baby boomers made too many critical financial mistakes.
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
