Newsweek magazine is taking a look at how Baby Boomers will reinvent their retirement, much as they've reinvented other aspects of their lives.
It's keyed around the sense that they don't want to grow old, at least in the traditional sense of aging. For example, a higher percentage than previous generations will move to college communities and other areas that give them access to cultural and recreational opportunities.
"It's been said that the [baby] boomers have reinvented every stage of their lives and they will reinvent retirement," Bill Novelli, head of the AARP, told Newsweek. "But we don't know yet. They may not do things exactly as their parents did, but right now the jury is still out about what they will do."
Newsweek spoke to AARP and other experts; here's a synopsis of a Boomer retirement:
- Baby Boomers will retire later than their parents did;
- They will be more likely to move;
- They aren't going to want mom's condo in Boca;
- They'll spend more time caregiving;
- They're wealthier.
Go to the Newsweek story to learn more.
Comments
1. Have to still work because they are broke, but will be forced out of those jobs as younger, smarter, people replace the crabby old people.
2. "Move" in with their kids...
3. Can't aford the condo in Boca or their old house because they leverage to by a car that said SE on the back for 4 years between 2002-2006 with their WWII inheritance.
4. Boomers out of retirement $$$ faster then any other generation as they try to one up each other at the LTC facility...
5. Will ask X and Y's to bail them out the same way their WWII parents bailed them out their entire lives.
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