EXPLORE
August 18, 2011
The people who run senior centers are finding that the baby boomers who are beginning to populate them don't want bingo, they want belly dancing (see our Page 1 story). These aging boomers are less inclined than their parents were to pull up stakes and move to Florida, or even into nearby retirement housing. They want to stay right where they are, in the homes they know, and local officials have sharpened their focus on ways to help them achieve that goal. Observing the determination of this new segment of the senior population to stay put and to keep doing physical things instead of shuffling off to some warm corner to await the inevitable quietly, the cynic might say it's a result of denial: The people who came of age in the don't-trust-anyone-over-30 culture of the 1960s are vainly clinging to their youth.
BUSINESS
By Hanah Cho, The Baltimore Sun | January 8, 2011
The nation's original baby boomer turned 65 on New Year's Day, representing another milestone for a generation. Kathleen Casey-Kirschling, who celebrated her birthday with family at her second home on Maryland's Eastern Shore, is the very first of more than 78 million baby boomers who will turn grayer during the next two decades. That means they can collect Social Security — and now Medicare benefits. According to the Pew Research Center, about 10,000 baby boomers will turn 65 every day. All baby boomers, those who were born between 1946 and 1965, will reach that threshold by 2030.
NEWS
By Susan Reimer | August 23, 2010
The Wall Street Journal reports that baby boomers have not emerged from the fetal position they assumed in 2008, when they found their homes and their retirement funds suddenly to be worth half as much. We boomers stopped spending — we haven't opened our wallets since — and because boomers represent such a huge chunk of the American population, that's bad news for an economy powered by consumer spending. Our plans for retirement were already in trouble because we hadn't saved enough during our working lives, and the stock market collapse made the future that much more troubling.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 23, 2011
As older baby boomers near or enter retirement, many are so paralyzed by fears of poverty and distrust of financial advisers that they can't take the steps needed to secure their future, according to a report released Monday by a California investment adviser. Instead, they often rely on "magical thinking," where they hope that it will somehow all work out in the end, says Financial Engines, which interviewed more than 300 older boomers during the past three years. It's understandable that early boomers, the oldest of whom turn 65 this year, are worried.
NEWS
By Ron Smith | June 16, 2011
There is a boom in baby boomer joblessness. It has more than doubled, from 3.2 percent to 6.8 percent, since the recession began. Earlier this week, a CBS Evening News report focused on the plight of unemployed professionals ages 55 and older in the Charlotte, N.C. area. Even the most organized among them - like those who make looking for a job a full-time job - can't find work. One of the people interviewed has a Harvard MBA but no job. Another, a 56-year-old financial professional, works long days trying to place himself in a new job, with no luck so far. He told reporter Byron Pitts that he has resigned himself to working into his 70s. We hear this all the time, don't we?
NEWS
By Giuliani Alexei Bayer | July 18, 1999
NEW YORK -- Economists like to emphasize the importance of economic policy. They are quick to give credit to sound policies in periods of prosperity and look for policy mistakes whenever things go wrong.But they tend to disregard the enormous role played by demographics. There is, for example, a heated debate in this country over which policies created the current economic boom.Yet, with all due respect for various economic ideologies, it could merely be that the baby boom generation is responsible.