The new retirement


August 26, 2010

U.S. News reports that most of America’s 78 million baby boomers will face a retirement landscape very different from what their parents experienced due to the recession, housing crisis, and inflation.

This means that boomers will have to carefully plan their future finances to calculate for unexpected costs and a longer life expectancy. One way or another, this generation of retirees will likely have a more active senior life than any before them, especially since the retirement savings of most Americans who are 55 and older may not be enough to last for the coming decades.

While some boomers may retire and live comfortably, others will still have to work. Ron Kauffmann, a senior advisor, claims that these older workers will be less interested in climbing a career leader and more interested in flexibility.

The U.S. Bureau of Labor Statistics claims that the number of workers aged 65 and over, will skyrocket by 80 percent in the coming years, with seniors accounting for 6.1 percent of the work force by 2016.

Another difficulty for retiring boomers is caring for older parents. This can seriously impact the caretaker’s working life. One way to ease your mind is to use a senior alert system, which allows parents to contact their adult children or doctors if they are alone and there is a medical emergency.