Archive for the ‘The Baby Boomers-Economics- Mortgages-Retirement-Investments-Medicare-Disability’ Category

Generational Woes: Baby Boomers and the Loss of Traditional Values (pt. 5)

Tuesday, September 15th, 2009

Elderly Problems: Baby Boomers Sinking Values

Elderly Problems: Baby Boomers Sinking Values



Elderly Problems by Boomeryearbook.com

Baby boomers have set the standard. In an unprecedented feat of social transformation, baby boomers remolded a culture. They did this without a military coup or untold acts of violence (or at least not much, in relative terms). Social change, therefore, is a possibility given the drive and determination to do so. And yet; as baby boomers prepare to hand off the torch of responsibility to the next generation of Americans, there is much work to accomplish.

Baby boomer have left in their wake a society that is vastly different from the one in which they themselves were raised. The loss of traditional values, especially the destruction of the traditional family structure, has been devastating. The question that lies at the feet of the next generation of echo boomers and their children is what to do next?

In order for social change to take place, there needs to be awareness that there is a problem. Baby boomers, for their part, are a perfect example of this. Baby boomers, during their heyday, recognized the social injustices that troubled this nation and took action. It is only now that baby boomers are realizing the effects that their movement has wrought on a nation. Nevertheless, a recognition that a problem exists is the first step.

In this, it is important that baby boomers take a bit of responsibility for the results of their actions and step up to the plate to facilitate resolution, once again through change. This is important as a result of the attitude of self-indulgence that is prevalent in today’s culture. In other words, the current generation of Americans is so narcissistically self-absorbed, that larger social concerns go unheeded. As such, it is incumbent for someone – in this case, baby boomers – to begin a national campaign of social awareness education.

For real change to take place, this campaign has to be a grass roots endeavor. Most echo boomers are moving into the prime of their lives, taking their parents place in the work force and continuing to promote the social direction their parents initiated. As such, it is the children of echo boomers that have to be made aware of the need for change and the remedies that will bring about resolution to many of today’s problems. There has to be an impetus toward the need for reestablishing effective and traditional family structures as the primary vehicle of social reclamation. What better voice to initiate this campaign than the originators of generational social reform - the baby boomers themselves?

Baby boomers are in a unique position. Baby boomers, in ever increasing numbers, are realizing that in spite of their best intentions America is suffering. They see what American society has become in comparison to what American society was like in the period before the ‘great experiment’ manifested. Baby boomers can see what was good and what wasn’t; what should have been let go and what should have been maintained. It is within this spirit of experience and understanding that baby boomers can once again make a difference.

Elderly Problems: Are Echo Boomers Adapting Baby Boomer Values?

Elderly Problems: Are Echo Boomers Adapting Baby Boomer Values?

Through the voice of experience, aging baby boomers can impart the wisdom that can only be born through the trial and error of living. This wisdom can be the nectar for the younger generations that are waiting in the wings and hunger for social nourishment. The solutions to the ills that plaque society is deeply rooted and will take a generation to fully manifest. If we have any hope, baby boomers most take action – as they are the only viable and remaining voice that understands and can relate to then and now.

The Psychological Article on
Generational Woes: Baby Boomers and the Loss of Traditional Values (pt. 5)
is part of Boomer Yearbook’s continuing series of articles to alleviate elderly problems. We believe knowledge is power. We’d love to hear what you think.

Boomer Yearbook is a Social Network and Psychological Articles for Baby Boomers. Connect with old and new friends, or expand your mind and ward off senior moments and elderly problems with dream analysis and online optical illusions and brain games provided by clinical psychologist Dr. Karen Turner. Join other Baby Boomers to stay informed, receive weekly Newsfeeds, and let your opinions be heard. Baby boomers changed the world. We’re not done yet!

signup

Will Obama’s Health Plan Cause The Great Exodus?

Saturday, August 29th, 2009

Barrack Obama - All Leaving?

Barrack Obama - All Leaving?


By Boomeryearbook.com

Health care policy reforms continue to outrage baby boomers; the potential unwitting sponsors of health treatment for many who have not paid taxes for years. As the new health proposals unfold, each grisly new detail seems to be worse than the last and American baby boomers and senior citizens brace themselves for the effects of what appears to be a health plan package from hell.

1% of the country is targeted to subsidize the bulk of expense required, to provide health care for the rest of it, in a bizarre Robin Hood scenario designed to rob the rich to fund the poor. Many of the worst affected tax payers and those deemed to qualify as the 1% ‘rich’, required to fund the fancies (and possibly foibles) of a government intent on supplying health at any cost, in fact represent the cream of the country’s intelligentsia: they also comprise the most effective managers and promoters of industry.

Those in charge of reform imagine that the wealthy minority has no choice but to carry the burden of cost for those who cannot or will not provide their own private health insurance. Not so: the reality is that this well-heeled handful of citizens destined for financial victimization in the form of dramatic tax increases are more than adequately equipped to fund a hasty exit to countries offering more attractive tax levels.

In the late nineties, British Prime Minister Tony Blair imposed the notorious IR35 tax law. It was credited with being directly responsible for the IT brain drain in the UK which saw thousands of independent contractors flow out of the country in search of more hospitable tax environments. Predictions are that an exodus of the cream of American professionals will follow a similar but faster trend, with some electing to relocate to other States to benefit from less aggressive taxation on offer, such as Florida and Texas. In short, the smart people are planning to pack their bags and ‘Get out of Dodge’. And who could blame them?

Cap and Trade restrictions pose further financial problems for the professional sector, forcing companies at the cutting edge of industry and commerce to raise consumer prices, resulting in a higher cost of living for average American families. Adjustments at the top, as always, result in a domino effect and hardship at consumer level; in our own back yards.

The finest talent of America’s professional sector waits and watches with dread while Mr. Obama pushes through his Stimulus Package at the helm of one of the most ambitious social reforms the country has ever seen, predicted to cause serious unemployment and further financial mayhem in an already unstable economic climate.

Senior baby boomer health sector professionals are forecast to be the first of the smart guys dusting off their matched luggage and heading for the hills…

The Cunning Plan

The Cunning Plan

Additionally, it is not only the tax feature of the health plan that will hurt older citizens as if Obama gets his wishes it seems that savings will be squeezed from Medicare and Medicaid. Regarding Medicare, Mr. Obama has expressed his disdain for giving advanced treatment or new (read expensive) drugs to older people (OUCH), older being defined as the aging boomer and seniors, the people who have been paying social security taxes all our lives. (For instance, those of us who began working somewhere around the age of 16, continuing to the age of 65, and wishing there were employment opportunities available to us today so that we could remain part of the productively employed workforce.)

Mr. Obama, just a suggestion here. Instead of squeezing us older citizens how about squeezing the ambulance chasers, who regard an auto accident as a lottery ticket? Nah! Those appear to be the people who give vast contributions to election campaigns, along with causing mal practice insurance premiums to rise so much that it is hard to find an Obstetrician in some communities, as well as causing doctors to practice defensive medicine and order lots of unnecessary tests which add to waste.

If this Health Care Plan is approved it seems likely that it is going to cost lots of money, lower the quality of health care to the lowest common denominator (except Congress, of course), ration care, define some surgeries as optional, thereby adding real risk of a worsening condition. Yikes. This is certainly not what we hoped for in our senior years.

This Psychological Article on Will Obama’s Health Plan Cause The Great Exodus? is part of Boomer Yearbook’s continuing series of articles exploring and in some cases poking fun at politics and current events in the hopes of shedding light on baby boomer problems. We believe knowledge is power. We’d love to hear what you think.

Boomer Yearbook is a Social Network and Psychological Articles for Baby Boomers. Connect with old and new friends, or expand your mind and ward off senior moments and elderly problems with dream analysis and online optical illusions and brain games provided by clinical psychologist Dr. Karen Turner. Join other Baby Boomers to stay informed, receive weekly Newsfeeds, and let your opinions be heard. Baby boomers changed the world. We’re not done yet!

signup

Impact of Baby Boomers in US History

Saturday, May 2nd, 2009

Baby Boomers Impact and Elderly Problems

Baby Boomers Impact and Elderly Problems

Psychological Article:Baby Boomers Impact and Elderly Problems

By Boomeryearbook.com

If you are a Baby Boomer then you can take credit for impacting society and rejecting what was formerly considered the traditional accepted mores. It is well documented in psychological articles that baby boomers gave birth to new values and enjoy the status of being the healthiest and the wealthiest of any US generation. But like other generations baby boomers have also incurred some elderly problems. The first and the foremost of which is aging. Remember, however, that we are not alone!, and a large majority of boomers born in 1950s are experiencing similar elderly problems. But since boomers think of ourselves as special and different from our predecessors, it is therefore difficult for some of us to admit to elderly problems or to even believe we are ready to retire.

The baby boomer children of the 1960s liked rock music, alternative hair and clothing styles, and changing the social scene of their parents by enjoying ‘free love’, championing equality, and experimenting with drug use. However, this was not without consequences as some excessive drug use has lead to current boomer elderly problems; as aging biological systems are not equipped to handle years of misuse. Additionally, on the plus side, the seventies were witness to many boomer activists who supported the Civil Rights and the Rights of Women movements, resulting in thousands of women and minorities securing job opportunities, proudly culminating in the first US black President, qualifying for the right to higher education, accepting homosexuality and other alternative lifestyles that have changed the political and social fabric by introducing new social and political values of equality, rights and opportunities.

In the 1980s the boomers continued their wave of social change as more boomers than any other prior group divorced, and reintroduced themselves into the dating scene; with some suffering deleterious elderly problems such as abusing alcohol, marijuana, cocaine, and other drugs. In the Nineties the Baby Boomers moved towards their 40s and midlife crises along with the advent of what became pervasive elderly problems derived from unprotected sexual activities and drug abuse such as Herpes, HIV/AIDS, and Hepatitis C.

May of the activities and philosophies the baby boomers harbingered in, have continued to play prominent present day society roles, with some injurious effects. For instance, psychological articles have informed us that the current US divorce rate has caused numerous psychological and physiological elderly problems such as loneliness and feelings of isolation and disconnect, with boomers attempting to seek solace in unprotected sexual and drug activities resulting in a high rise of STDs and drug and alcohol related elderly problems. But on the brighter side, boomers continue to influence politics and society as Bill Clinton, George W. Bush, and many congressional and judiciary members are proud baby boomers.

The baby boomers represent 26.75% of the US population. They have greatly impacted the government’s social security programs as they play a dominant role in US economics and have high expectations for government services. According to psychological articles, 55% of baby boomers voted in the 2000 elections, and 59% of baby boomers voted in the current Presidential election. Additionally, boomers have contributed to increasing the literacy rate in the US as baby boomers enjoy the highest education levels of any US demographic group. Although fast approaching the elderly problem of retirement, boomers are still the privileged class of the US society and will be influential in shaping America’s future.

Boomer Yearbook is Informational Psychological Articles for Baby Boomers. Connect with old and new friends, or expand your mind and ward off senior moments and elderly problems with dream analysis and online optical illusions and brain games provided by clinical psychologist Dr. Karen Turner. Join other Baby Boomers to stay informed, receive weekly Newsfeeds, and let your opinions be heard. Baby boomers changed the world. We’re not done yet!

signup

Your State Senator May Soon Be Your Primary Care Physician: Retirement Boomers Alert

Sunday, February 15th, 2009

Crumbling Health Care: Elderly Problems Alert

Crumbling Health Care: Elderly Problems Alert

by BoomerYearbook.com

Retirement boomers beware. Congress is at it again, and this time their target is the nation’s Medicare and Medicaid recipients. The economic stimulus bill passed by Congress, named H.R. 1 – the bill number reserved for the piece of legislation deemed a number one priority in the House by the Speaker – quietly highlights several specific changes that will dramatically affect retirement boomers and members of the population with typical elderly problems. Although not eligible for Medicare for a minimum of two years, the baby boomer generation will be unfortunate enough to fall under the new health and human services health plan initiative that will tie the federal government to every patient nationwide.

At greatest risk for bureaucratic dappling in the healthcare business are those with particular elderly problems, which will eventually include retirement boomers. Our friends on Capitol Hill have agreed through the approval of the President’s economic stimulus bill that federal oversight of healthcare, most notably Medicare, is the right choice for all citizens. Of primary attention for boomers in the 2009 economic stimulus bill is the electronic Health Information Technology (HIT) portion that supports the creation of electronic health records for all healthcare patients to minimize duplicate testing and reduce or eliminate errors. Both healthy retirement boomers and those retirees with elderly problems are affected by the bill’s construction. Nestled among the text regarding the efficiency of the new and improved healthcare system is the proposition of a “National Coordinator” who will essentially be the national health czar.

The proposed system will manage the national healthcare organizations. Although that seems rather insignificant on the surface, a full one-third of the nation’s healthcare is regulated by the federal government (Medicaid, Medicare, Veterans Administration, et. al). And how can this affect those with elderly problems? Physicians will be paid incentives for the “adoption and meaningful use of certified EHR technology (511).” The earlier a physician adopts the practices recommended by the National Coordinator and respective offices, the greater the incentive. Essentially, your doctor can be bought for a price by Uncle Sam.

So what does this mean to boomers in general? The bill itself is riddled with comment after comment regarding the “National Coordinator.” The head of the Department of Health and Human Services will preside over the nation’s health care system, likely imposing his ideas of reasonable care, rates, and procedures on those who are least able to tolerate what feels like a socialized approach to healthcare. Fortunately for the baby boomer generation, Senator Tom Daschle withdrew his nomination for the prestigious post. Daschle’s opinions regarding healthcare and his opinions regarding federal healthcare administration are a red flag for anyone assuming private healthcare is exempt from federal influence. The bill gives the department authorization to review previous uses and impose “more stringent measures (541)” if deemed necessary. What could eventually result is a reduction or removal of certain tax benefits for those who choose to opt-out of compliance.

Retirement boomers and Medicare patients with significant elderly problems need to know that the new electronic HIT program plans to “improve(s) the coordination of care and information among hospitals, laboratories, physician offices, and other entities through an effective infrastructure for the secure and authorized exchange of health care information (442).” What exactly are these “other entities” and who is behind the “authorized exchange” many retirement boomers will be asking. According to the bill, seemingly every action taken by hospitals and physicians will be funneled through the Secretary of Health and Human Services: “to the satisfaction of the Secretary (498, 517, 540, 568).” Rather than reducing problems within the healthcare system, the stimulus bill will essentially increase them, but not for the federal government. It is the patient who will ultimately suffer.

How do you feel about the President’s economic stimulus bill? How do think you and your loved ones will be affected? Let us know at BoomerYearbook.com.

www.boomeryearbook.com is a free social networking site connecting the baby boomer generation. Whether you are a member of the baby boomers generation or are related to someone who is, Boomer Yearbook will provide you with free psychological articles on a vast variety of topics such as dream analysis, coaching and self-help, elderly problems, examinations and proposed solutions for types of discrimination along with weekly updates on mental and medical health. Share your thoughts, upload pictures and find old friends, or use our online optical illusions and brain games, provided by clinical psychologist Dr. Karen Turner, to expand your mind and help ward off the possibility of depression, dementia and Alzheimer’s. Join now to discover the numerous ways in which this online social networking site for the baby boomers generation and boomers of all ages can contribute to optimal physical and emotional wellness. The baby boomers generation changed the world. We’re not done yet!

signup

Smaller Homes for the Retirement Baby Boomers Generation

Saturday, February 14th, 2009

Retirement Boomers Downsizing

Retirement Boomers Downsizing

Elderly Problems Resolved

By Boomeryearbook.com

There are more baby boomers alive today (78 million in the US alone) than any other people of a specific age demographic. As the baby boomer generation reaches retirement age (as of 2006 most boomers have passed the age of 60) and the lifestyle of the boomer generation changes, many will also be changing the type of house they live in. Psychological articles and statistics have shown that contrary to popular belief, the aging baby boomers are switching to smaller homes, and not splurging all their savings on showy McMansions. Choosing the right kind of retirement plan is fast becoming a primary addition to the elderly problems facing thebaby boomer generation; and the baby boomers generation is choosing to downsize.

Psychological articles and statistics commonly report the baby boomer generation is a relatively fortunate, prosperous, largely ‘middle class’ (or higher) group of people. Many of us recognize that we probably own many more and bigger “things” (houses, clothes, TV’s etc.) than we need to. These psychological articles explain that as humans we are constantly striving for more, and oftentimes will go to great lengths to achieve higher goals. Big houses used to top the list of the retirement boomersdesired possessions, but that’s changing because boomers are starting to accept that all they’ll do with a big house is find more “stuff” to fill it up with.

In numerous polls reported in psychological articles, almost two thirds of people said they preferred a smaller house with high quality products; and like prior times, the baby boomer generation are in the vanguard. While psychological articles report that change may not be easy, the retirement boomers facing elderly problems are the largest proponents of home downsizing. As the younger boomer generation sends their children off to college, we are squarely facing the reality of a huge home with an “empty nest. While the picture painted might seem melancholy, (psychological articles tell us as we age it gets harder to maintain big things), another one in the long list of elderly problems is not accepting that soon there may come a time when you can’t do things as well as you did 20 years ago. So what are doing; we are proactively preparing ourselves by downsizing. What a resilient group we retirement boomers are!

The baby boomer generation is facing elderly problems head on; finding small retirement homes not because we haven’t saved enough-although savings in America are the lowest they’ve been since the Great Depression-but it’s because small homes are easy to maintain and still suit the needs of the aging boomer generation. Smaller homes have greater benefits. The the baby boomer generation is spending and investing more in their “smaller” home; but by buying wisely, and selecting choice home décor and style pieces, the boomers retirement dwelling can be just as comfortable and luxurious as their former large homes. That’s why psychological articles report that smart retirement boomerselderly problems by buying smaller houses. It’s definitely the smart way to go.

www.boomeryearbook.com is a free social networking site connecting the baby boomer generation. Whether you are a member of the baby boomers generation or are related to someone who is, Boomer Yearbook will provide you with free psychological articles on a vast variety of topics such as dream analysis, coaching and self-help, elderly problems, examinations and proposed solutions for types of discrimination along with weekly updates on mental and medical health. Share your thoughts, upload pictures and find old friends, or use our online optical illusions and brain games, provided by clinical psychologist Dr. Karen Turner, to expand your mind and help ward off the possibility of depression, dementia and Alzheimer’s. Join now to discover the numerous ways in which this online social networking site for the baby boomers generation and boomers of all ages can contribute to optimal physical and emotional wellness. The baby boomers generation changed the world. We’re not done yet!

signup

How Boomers Can Get the Best Deal For Your Mortgage

Friday, February 13th, 2009

Understanding mortgages-Getting the best deal

Understanding mortgages-Getting the best deal

By Boomeryearbook.com

Impeccable research is key when deciding the best place to go for your mortgage. With so many advertisements bombarding the market, it can be a confusing choice, but with careful investigation and deliberation, you will find the best mortgage out there for you.
The main competition lies between banks and building societies. Traditionally, mortgages were solely offered by building societies, as the profit that they yielded was minimal. However, the market expanded and the banks became eager to get on board. The question then arose as to who offered the better deal on mortgages.

Building Societies:, if they operate as mutual societies belong to the members of the society and do not pay out to any other shareholders. This translates to lower interest fees for borrowers which is always good news. However, a building society is not allowed to borrow money from the wealth market that exceeds 50% of its assets. What this means for you is a longer loan period. Simply put, because the building society cannot borrow more than a certain amount you will have more payments in smaller sums. Depending on your income and your lifestyle, this may be the most suitable option for a mortgage.

Banks, on the other hand, are not owned by its customers and so charge fees for services and loans so as to pay their shareholders. This results in higher mortgage rates, but because banks have a free reign on the amount they can borrow from the wealth market, you may end up having a shorter mortgage period. In other words, larger sums with a shorter time to pay. This will probably be a good option if you have money set aside to set off the first couple months of the mortgage as well as access to enough income to support it for its duration without making too many sacrifices. If you have already retired and your pension payments and other resources filter in slowly then going to a building society would perhaps be best.

Boomers need to explore their options thoroughly, even more so where the possibility of future income is uncertain. Typically, credit institutions offer discounts or lower rates for first time buyers. If you do not fall within that category then you need to ensure that your credit is in good order so that the possibility of negotiating for a lower rate will be open to you. Some banks offer a lower rate of interest for persons within retirement age; however, the properties for which these discounts are offered are very limited, often including complexes and gated communities. If you are building your home, this may be an even more difficult process for you as the mortgage you take out will need to cover any unforeseen expenses that could arise- this in itself will push up your mortgage rate.
Using the internet for comparisons for different mortgage rates is a good idea, but this should not replace actually going into a financial institution and getting the information needed firsthand. If you are mindful of your present financial situation and of what your future situation could be like, then a building society might be your best bet. The process of getting a mortgage is a long one, but it will be worth it to see the amount of money you have saved when you go with the option that is best for you.

The state of mortgages all across the US is the topic of discussion at everyone’s dinner table nowadays. What have you been talking about? Share with us at BoomerYearbook.com.

www.boomeryearbook.com is a free social networking site connecting the Baby Boomer generation. Share your thoughts, upload pictures and find old friends, or use our online optical illusions and brain games, provided by clinical psychologist Dr. Karen Turner, to expand your mind and help ward off the possibility of depression, dementia and Alzheimer’s. Join now to discover the numerous ways in which this online social networking site for the baby boomers and boomers of all ages can contribute to optimal physical and emotional wellness. The baby boomers generation changed the world. We’re not done yet!

signup

Home Alone? The Pros and Cons of Baby Boomers Renting Out Part of Your Home

Friday, February 13th, 2009

Should Baby Boomers Rent Part of their Home?

Should Baby Boomers Rent Part of their Home?

By Boomeryearbook.com

Before you consider renting out a part of your home, go to the DVD store and pick up “Duplex” starring Ben Stiller and Reese Witherspoon. If you still have the desire to rent after watching that movie, then go ahead and read this article.
Renting out a part of your home is an easy way to earn some extra income, but there are some considerations you must take into account before deciding to share your home with paying strangers. If you do not own your own home, then you need to consult with your landlord or read through your lease to make sure that you can legally rent out part of the home.
If you do own your home, but you reside in a gated community or complex of some sort then you need to check with your property manager to find out whether you can rent out the property to other persons, and if so, what the extra fees are that have to be paid or any extra arrangements such as parking, security etc.
If you have a single family home on your own lot, then you can move to the next step of thinking about the future of your home. Do you have children that may need to move back in with you? Are you finished having children? Do you have an elderly parent that may need to move in with you? In other words, are you absolutely sure that you will not have a purpose for that extra space you are willing to rent out?
Then you move on to the next question- is there enough space for you to live comfortably with your tenants? If not, and you are thinking of making renovations or adding on to the structure make sure you get all the required permits and plans and work out the budget to see if it is worth it in the end.
Now that you’ve done all your investigation, you can realistically examine the pros and cons of renting your property.

Pros
• You’ll earn an extra income.
• It’s nice to have other people around or, at least, know that they are very near.
• More persons in the space will reduce the risk of danger (i.e. safety in numbers)
• There’s someone there to help you in your time of need. For example, you won’t have to walk far to borrow the sugar.
• You can carpool and buy bulk groceries to save on living expenses.

Cons
• Someone will always be in your space; if that bothers you, renting is not a good idea.
• The duties of a landlord can be tedious as you are responsible for any and everything that goes wrong.
• The tenants may not be the wonderful neighbors that you’d dreamed of.
• They may be careless in taking care of your property, thus bringing down its value.
• They don’t have to walk far to borrow your sugar.
• You will have to spend money before you earn money, and if the place is not done right the first time you will lose more money than you spend.
• Your property becomes open to people other than your tenants as they’ll invite their own guests to their home.

Renting out a part of your home is a sacrifice of your space, your time, your privacy somewhat and your money initially. However, if the extra income is worth it and your home and personality are such that disturbances of the sort that arise with tenants in close proximity do not affect adversely, renting out a part of your home can be good money-making idea.

What do you think about renting out your home as a means of earning extra income? Tell us at BoomerYearbook.com.

www.boomeryearbook.com is a free social networking site connecting the Baby Boomer generation. Share your thoughts, upload pictures and find old friends, or use our online optical illusions and brain games, provided by clinical psychologist Dr. Karen Turner, to expand your mind and help ward off the possibility of depression, dementia and Alzheimer’s. Join now to discover the numerous ways in which this online social networking site for the baby boomers and boomers of all ages can contribute to optimal physical and emotional wellness. The baby boomers generation changed the world. We’re not done yet!

signup

How Will The Baby Boomers Know When Is The Right Time To Retire?

Friday, February 13th, 2009

Baby Boomers Planning for Retirement

Baby Boomers Planning for Retirement

Is There Even Such A Time?

By Boomeryearbook.com

It’s the big question- how long will you continue working for? You want to make sure that you have enough money saved to live on comfortably for the rest of your life, but can you really plan for that? What about emergencies or surprise bills or unexpected disasters? The job market isn’t thriving and having to find a job later on will be a difficult, if not impossible task. So, what are you to do? With a future so uncertain it’s hard to make these decisions, but the process is easier if you keep a few things in mind.

How large is your retirement fund?
If you’ve had to dip into your retirement fund and you haven’t refunded yourself, then you may want to consider working for an extra five years to bring your savings back up to what it was. If you think you can survive on it in its present state, then you won’t have to. But before you come to that decision be sure to factor in things like inflation; disaster preparedness, changes in your insurance rates and any dependants you could possibly have.

What are your assets?
If you do not own your home or your car or will not own either of them in your lifetime, then you need to have a retirement fund that will provide shelter and transportation for you. Therefore, you need to look at your lease to examine if the rent will increase over time and how much it will increase by. If you find out that you will not be able to afford such an increase, begin looking for homes with fixed rent. Also, you may want to figure out your future method of transport if you have to give up your car. Consider trading it in for a more affordable model if you’re unable to maintain the payments. This will benefit you in other areas like your gas budget or insurance payments.

What are your expenses?
Sit down with your bills and receipts for the year. Take out the highest bills for a period and calculate the amount of money you would have to pay for the year if that was your average. In other words, if your highest ever bill for electricity was $550.00 over a month, then multiply that figure by 12 ( to get the yearly amount). The total figure ($6600) is the amount that you must budget for. Do this for all your bills then add them up and those will be your expenses for the year. You should count in possible future expenses as well such as medical bills etc

If after you’ve done all this and you realize that your retirement fund as it now stands cannot cover your daily life then you have three options:

1. You can up your performance at work, raking in bonuses that will help to buttress your retirement fund and/or your pension
2. You can investigate cost-cutting measures such as solar energy, planting produce in your backyard, conserving electricity and water, renting that beach house out when your family isn’t occupying it etc.
3. You can create a niche in your field so that you can work as a consultant after you retire. You’ll set your own hours and be your own boss and the extra income will help to set off any wanting areas.

All in all, you retire when you can afford to, and affording to doesn’t only mean money-wise, but health-wise as well. Be frugal with your money now. If you make the sacrifice now, you’ll thank yourself later.
Are you a retired Baby Boomer? Are you a Boomer planning to retire soon? Tell us about how you made or are making that decision at BoomerYearbook.com.

www.boomeryearbook.com is a free social networking site connecting the Baby Boomer generation. Sshare your thoughts, upload pictures and find old friends, or use our online optical illusions and brain games, provided by clinical psychologist Dr. Karen Turner, to expand your mind and help ward off the possibility of depression, dementia and Alzheimer’s. Join now to discover the numerous ways in which this online social networking site for the baby boomers and boomers of all ages can contribute to optimal physical and emotional wellness. The baby boomers generation changed the world. We’re not done yet!

signup

Retirement Boomers: Their Impact on the US Economy

Wednesday, February 11th, 2009

 Retiring boomers as toxic spheres in US economy

Retiring boomers as toxic spheres in US economy

By Boomeryearbook.com

Baby boomers were the most prosperous generation in all of history. We had the highest collective annual spending power. However, it does appear that many of us have spent more than we have saved. Much of our money has been used to find the proverbial fountain of youth, as we boomers seem obsessed with keeping ourselves forever young. While we might have been prosperous and while many of us still are, we are also, whether you want to face it or not a “threat” to the US economy. Psychological articles and sociologists observe that we boomers of the population of America that is 60 and over (fast becoming retirement boomers I suppose) are the most obese, and the most drug abusing.

Many may call this a gross exaggeration but most of us grew up partying, dabbling in drugs, attending political protests, engaging in sexual freedom and experimentations, calling the shots and “ruling the world”. The problem is that too many of us now aging boomers haven’t grown out of the 60s and we are having a negative impact on the US Economy.” People assumed that with age, we boomers would calm down. However, many of us haven’t and thus, speaking from a purely economical standpoint, are looked at as somewhat of a burden. Over 76% of Americans above the age of 50 plan to work through their retirement years mostly because they have to. In spite of this, retirement boomers constitute a problem.

The nearly 78 million baby boomers in the US alone will soon become, if they haven’t already, retirement boomers. The government calls us a “national challenge”. I guess it’s because everybody’s wondering how many tax payer’s dollars will be needed to support all the government programs aimed to helping retirement boomers. (i.e., Social Security, Medicare, etc). Already, many of us can’t afford to retire because Social Security is facing shortages meaning lower benefits for those of us who retire early.

Economists predict a serious problem. Fifteen percent of today’s labor force consists of the defined baby boomers above the age of 55. What happens when we retire? The current tight labor market situation will be aggravated. And, putting all this in the perspective of the global economic recession, things look bleak indeed. The pundits are telling us that private savings are the lowest since the Great Depression, and the ominous age-wave theory predicts a looming economic slowdown as we become retirement boomers.

Many psychological articles on elderly problems say there will be a sort of generational warfare. Why? … because of the fact that there will be less people putting money into the system and more people deriving benefits from that system. But most of us boomers don’t want to look at ourselves as some undeserving burdensome “old person” soaking up the country’s money and resources. After all, didn’t we pay taxes and act as responsible citizens throughout our lives? There is the common misconception that retirement boomers never think of themselves as old and/or economically burdensome. Like most things in life, this is a gray area. Many boomers do recognize the realities of our age and the associated responsibilities, while other retirement boomers seem to be in denial. The boomers in denial may well leave an unjustifiable economic burden on echo boomers (children of baby boomers) and scores of younger generations that will follow.

What do you think? Are retirement boomers a burden or potential asset? Join Boomer Yearbook and let your opinion be heard.

www.boomeryearbook.com is a free social networking site connecting the baby boomers generation. Whether you are a member of the baby boomers generation or are related to someone who is, you will find plenty to do here. Free psychological articles on a vast variety of topics such as dream analysis, coaching and self-help, elderly problems, examinations and proposed solutions for types of discrimination along with weekly updates on mental and medical health. You can also become a non-member subscriber to our free newsletter to receive these articles directly in your inbox so you don’t miss out.

At Boomer Yearbook you can share your thoughts, upload pictures and find old friends, or use our online optical illusions and brain games, provided by clinical psychologist Dr. Karen Turner, to expand your mind and help ward off the possibility of depression, dementia and Alzheimer’s. Join now to discover the numerous ways in which this online social networking site for the baby boomers and boomers of all ages can contribute to optimal physical and emotional wellness. The baby boomers generation changed the world. We’re not done yet!

signup

The Baby Boomers: How We Plan to Live Out our Days

Wednesday, February 11th, 2009

The Baby Boomers Generation and Retirement

The Baby Boomers Generation and Retirement

By Boomeryearbook.com

The baby boomers are a unique lot unlike any preceding generation. While earlier generations believed in the idea that senior citizens ought to retire and sit home enjoying their life’s earnings, it is a completely different story for the boomers generation.
Numerous outlooks on social culture have undergone changes due to the distinct character traits of the boomers; as the baby boomers generation has re-ascertained and reformed cultural norms in ways no other generation had ever dared. In the past, we have seen this one-of-a-kind group of people carve a niche for themselves in all walks of life, and there is no doubt they will continue doing so in the future. The world has witnessed the baby boomers creating their own mores and values and being mavericks in carving out creative and trailblazing belief systems. When it comes to the baby boomers generation we should never assume that aging will in any way change that?

Nearing retirement, psychological articles and surveys show that as many as 76 % of the baby boomers plan to stay in the workforce for as long as they can. Contrary to preceding retirement generations, this amazing generation of boomers believe that their ‘retirement’ senior years will be as important and productive as other stages of their lives. But by no means should anyone assume that the baby boomers generation is the die-hard nine-to-five job fans. For the boomers, post retirement can mean volunteering, a second career path, a part time job, a new “paid” hobby, a full throttle launch into the entrepreneurial world of starting a small business, or if they are in the lucky percentage of those who can afford to, using their hard earned money to stimulate the economy by purchasing cars, retirement homes, sports equipment, or embarking on luxurious cruises around the world.

In the US alone, the baby boomers are 78 million strong; thus comprising a significant and influential segment of the working population. If age mandated retirement is enforced, the country will lose a large portion of its work force resulting in heavy burdens on state coffers and retirement benefits.

As psychological articles and research on elderly problems have noted, due to advancements in medical science, the baby boomers generation is expected to have a long life expectancy. This may pose a problem as retirement funds may not sufficiently cover requirements. In addition, the new administration in the US is proposing programs that will lower the rate of retirement benefits. As we age, it is inevitable that we will require additional medical services, and these services may not be readily available to the aging population of the baby boomers generation and if available, the cost may precipitously rise.

This leaves the majority of the aging baby boomers generation with no option but to continue to seek paid employment after “official” retirement. Seventy eight million baby boomers in the US alone with 76% planning to stay in the workforce after “official” retirement. Those are big numbers! Are you amongst the group that plans to work after retirement? Come join other boomers and share your thoughts and strategies.

www.boomeryearbook.com is a free social networking site connecting the baby boomers generation. Whether you are a member of the baby boomers generation or are related to someone who is, you will find plenty to do here. Free psychological articles on a vast variety of topics such as dream analysis, coaching and self-help, elderly problems, examinations and proposed solutions for types of discrimination along with weekly updates on mental and medical health. You can also become a non-member subscriber to our free newsletter to receive these articles directly in your inbox so you don’t miss out.

At Boomer Yearbook you can share your thoughts, upload pictures and find old friends, or use our online optical illusions and brain games, provided by clinical psychologist Dr. Karen Turner, to expand your mind and help ward off the possibility of depression, dementia and Alzheimer’s. Join now to discover the numerous ways in which this online social networking site for the baby boomers and boomers of all ages can contribute to optimal physical and emotional wellness. The baby boomers generation changed the world. We’re not done yet!

signup