Boomers are not sitting still waiting for things to happen. Rather, they are actively planning for—as well as living—their future.
Nothing reinforces the belief that the Boomer generation is unlike any other in history than the evidence that they are not planning the usual retirement.
Boomers (also known as the “Maturing Market”) are actually looking forward to this next phase of their lives. For the most part they grew up in households where little, if anything, was denied them. As a result they tend to “want what they want”—and they are now taking the time to see they will not be in want when they retire—and to do more than just “retire.”
But, the events of September 11—and the Stock market turndown of July 2002—have made many Boomers somewhat cautious with regard to their employment status and to their investment planning. For that reason, a significant proportion of this particular group of Boomers will more than likely seek to continue their employment past the age at which they originally planned to retire.
On the othe hand, most Boomers will retire when planned—but they will then embark on a different kind of employment or business opportunity. These Boomers want to do more than just sit around, or play golf, or fish, or travel. Rather, they are looking forward to new careers as entrepreneurs or teachers after their “retirement.” Many are doing so for the extra income, but all want to continue being useful.
Then there are those who neither need nor want the extra income. Yes, they will go off to the golf course every day, or go fishing—or take frequent vacations. But many in this group are also planning to give significant time as volunteers— wherever they can continue to put their skills, and their accumulated knowledge and experience to work.
The collective attitude of both of these groups—and indications are they form the majority of the Boomer segment—is to contribute, to give back to a society that for the most part has been very good to them.
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