Baby Boomer Retirement Options
As the first wave of Baby boomers nears retirement age, theyre beginning to realize that unlike their predecessors, they have many options. Heres a look at some of the Baby boomer retirement options this group of mature adults are choosing.
Theyre working long past retirement age
The generations that came before the Baby Boomers retired from the work force at either age 62 or 65 or sometimes 67. They got their pensions and their social security checks and before long...
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As the first wave of Baby boomers nears retirement age, theyre beginning to realize that unlike their predecessors, they have many options. Heres a look at some of the Baby boomer retirement options this group of mature adults are choosing.
Theyre working long past retirement age
The generations that came before the Baby Boomers retired from the work force at either age 62 or 65 or sometimes 67. They got their pensions and their social security checks and before long they sold their homes and moved in with their adult children where they stayed until their passing. But not todays Baby boomers!
Its almost like collectively theyre saying, What me, retire? Instead of closing up shop, theyre choosing to remain in the work force, working part time and sometimes full time, sometimes out of necessity, but more often, theyre continuing with work that they enjoy. For this group, the Baby boomer retirement option theyre choosing is to postpone retirement.
Theyre volunteering
Another popular Baby boomer retirement option is volunteering. Almost in an effort to reverse a lifetime of putting me-first, Baby boomers are ready to give back. And theres no shortage of ways theyre giving back. Theyre becoming foster grandparents and theyre sharing their business experiences with up-and-coming entrepreneurs. Theyre giving their time to charitable organizations such as the Red Cross, the Salvation Army, and the Peace Corps. Theyre volunteering at schools and hospitals, speaking at college campuses, and theyre helping out at senior centers.
Theyre making health a priority
Long gone are the days of 80-hour work weeks, experimenting with mind-altering drugs, overindulging on food, alcohol and nicotine and all those other bad habits that Baby boomers are known for. For many, Baby boomer retirement is a time to make health a priority. Baby boomers are going to the gym, riding bikes, playing tennis and golf, swimming, dancing, hiking, and canoeing. Theyre basically doing whatever they can (and what they enjoy doing) to keep their bodies moving. Theyre quitting bad habits and eating nutritious meals and many are living longer as a result.
Theyre traveling more
The senior travel business is definitely booming as it tries to keep pace with another popular Baby boomer retirement option. No longer feeling the need to plan for their childrens futures, more Baby boomers are of the opinion that You cant take it with you! Theyre talking about the money theyve accrued during their work years and theyre certainly having no trouble finding ways to spend it. Theyre visiting places they never before had a chance to see and theyre returning to old favorites. Whether its a week-end get-away or a 2-month hiatus, alone or with friends or loved ones, Baby boomers are definitely enjoying their travels.
Theyre going out with a bang
If theres one thing you can be certain of, its that the Baby boomers definitely wont ride quietly into the sunset. Like every other thing theyve done in their long lives, they Baby boomer retirement options they choose wont be mainstream!
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