The Baby Boomer in Retirement!

THE BABY BOOMER RETIRING

Now more than ever in history the number of Baby Boomers retiring is astronomical. It is estimated that 10,000 people will retire every day for almost the next two decades. The reality of retiring may not be what we once thought.  Most retirees are faced with the tax consequences of registered savings vehicles, the plans we were told would supplement retirement at lower tax rates.  Others who lost a large part of their investments in the crash of 2008 because we were told equity and mutual fund investing was the way to go. The only benefactors of these so called retirement  plans seems to be the government and financial institutions. According to Bloomberg,  32% of Americans 65 to 69 and 19% of those ages 70-74 are still employed.  There can be many factors for this statistic; but financial considerations is probably to most common.  

Add the social and economic factors that we are living longer, our children are having considerably less children and the financial world is in more of a crisis situation, mostly because of huge government debt worldwide. Governments that led the populous now use poles and charts and public opinion to make policy. This does not benefit anyone but the individual politicians who are struggling to maintain power. It became a social perception that governments were there to take care of us; but simply is not true?

This has made the Baby Boomer, like every segment of the population more sophisticated, educated and seek information on many things that will affect their lives. A good example are investment strategies that were once only left to the experts or advisers that we depended on for unbiased advice.  Now, more individuals are seeking out their own information and verifying the materials of what is presented.  As Ronald Reagan quoted when dealing with the Russians back in the eighties, trust but verify, which came from a Russian proverb.  Trust but verify is a good life lesson that we should incorporate in our daily lives.

The Baby Boomer will need to look for new opportunities and investment strategies, such as real estate investing, cryptocurrency, buying stocks, mutual funds, permanent life insurance; to name a few.  Some would consider this a time of despair, concern and uncertainty? Perhaps, one should take a different perspective based on life expectancy, health, finance, human fortitude and opportunity..

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