Baby Boomer Health
Baby Boomer Health, Money and Retirement Concerns
As the Baby Boomer generation continues to grow older, their concerns have shifted to their health, money and retirement. The days of wondering where their next vacation should be and whether their bonus check will be as much as they deserve are passing. Today, Baby Boomer issues are mostly about concerns with maintaining their health and having enough money to live comfortably through their years. As people grow older, they often experience problems with their health. Their bodies grow more fragile and susceptible to diseases. Many people 50 years of age and older are reporting health problems that were not experienced by people in their same age group long ago. This problem is created by …show more content…
During the last couple years of their careers before retiring, people usually enjoy salaries and bonuses that are larger than at any other point in their career. As a result, money is rarely a major concern. However, many people fail to save that money. Instead, they spend it on vacations, their families and in the pursuit of living fun lives. This can lead to a rude awakening when they retire. Because they have not saved much money during their career, a lot of people discover that they do not have enough money to live comfortably during their retirement years. When they retire, they no longer earn a salary. They no longer receive bonus checks. Instead, they are forced to live off the income that can be generated by the investments they have made throughout their lives. Unfortunately, many have not invested any money that can generate this income. Other Baby Boomer issues complicate this money problem. People live longer lives today. When a Baby Boomer retires, he can expect to live many years in retirement. In the past, a 65-year old man could expect to live 10 years in retirement before passing away. The financial requirements of living comfortably for these 10 years were manageable. Today, people use a life expectancy of 90 to 95 years. That is, when a person retires at 65 years of age, he can expect to live up to 30 years in retirement. With dwindling health, rising health care
As the Baby Boomer generation continues to grow older, their concerns have shifted to their health, money and retirement. The days of wondering where their next vacation should be and whether their bonus check will be as much as they deserve are passing. Today, Baby Boomer issues are mostly about concerns with maintaining their health and having enough money to live comfortably through their years. As people grow older, they often experience problems with their health. Their bodies grow more fragile and susceptible to diseases. Many people 50 years of age and older are reporting health problems that were not experienced by people in their same age group long ago. This problem is created by …show more content…
During the last couple years of their careers before retiring, people usually enjoy salaries and bonuses that are larger than at any other point in their career. As a result, money is rarely a major concern. However, many people fail to save that money. Instead, they spend it on vacations, their families and in the pursuit of living fun lives. This can lead to a rude awakening when they retire. Because they have not saved much money during their career, a lot of people discover that they do not have enough money to live comfortably during their retirement years. When they retire, they no longer earn a salary. They no longer receive bonus checks. Instead, they are forced to live off the income that can be generated by the investments they have made throughout their lives. Unfortunately, many have not invested any money that can generate this income. Other Baby Boomer issues complicate this money problem. People live longer lives today. When a Baby Boomer retires, he can expect to live many years in retirement. In the past, a 65-year old man could expect to live 10 years in retirement before passing away. The financial requirements of living comfortably for these 10 years were manageable. Today, people use a life expectancy of 90 to 95 years. That is, when a person retires at 65 years of age, he can expect to live up to 30 years in retirement. With dwindling health, rising health care