How boomers will reinvent retirement

Here are 10 ways baby boomers -- who have blazed new trails in almost every phase of their lives -- will redefine traditional retirement.

Emily Brandon, U.S. News & World Report

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mr public355
Oct 6, 2012 2:36AM
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i have discovered after my recent retirement at age 65 after working 48 years that the best way to get a good retirement would have been to never had worked a day in my life but rather excepted money from the government.new housing and apts are provided for those who lived off tax dollars paid in by those of us who worked.i agree with that for the few that really needed assistance but for the majority of those who are  living like leeches generation after generation off of those of us that do work good luck on judgement day..i will not be living in a new house or apt but in a small 3 bedroom home that is 40 years old that my wife and i paid for and raised our 3 kids in.we dont qualify for the new stuff cause we make too much money.ha ha wake up people changes need to be made in this country.
Giavanna547
Oct 8, 2012 7:15AM
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Dear Tired of Bleeding and Sacrificing for Baby Boomers

 

The baby boomers are your parents and/or grandparents so stop trying to create a war between your generation and the baby boomers. In the old days, the generations lived together for financial reasons and unless your generation wants to go back to living under the same roof as your parents and/or grandparents, your generation better start figuring out a way to take care of your parents and grandparents in their old age by shoring up Social Security.

 

So grow up, stop whining and stop creating wars. The media has aready created a war against the wealthy and now it's trying to create a war against baby boomers who gave you equal rights for all people so your daughters can be doctors, lawyers, policeman, or whatever they choose to be. They got rid of the draft so YOU don't have to go to a real (not media manufactured) war unless it's your choice. WE stopped a war. Has your generation? Read your history.

 

I'm sure your generation enjoyed the perks your parents handed you as baby boomers of a better lifestyle than they had.

 

Stop complaining, stop the blaming, and do what the baby boomers did and change the world.

 

 

dl rider
Oct 8, 2012 8:25AM
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I don't agree with one part ...... I'm going to collect for more years than I worked.

Lets see I've worked and paid in for 44 years and I will start collecting at 66 and 4 months so I'm going to live to be 110 years old !!!!!!!!!!!

jj5306
Oct 8, 2012 9:41AM
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I am 67 and I still work fulltime.  I love my job and my paycheck.  I resent any punk telling me that I am a user or that I live to get Social Security and Medicare.  What the hell can either do for me?

 

No, I didn't save, I took care of my children instead and I do not expect them to take care of me, that really isn't their job.  I have never gotten anything or expected anything form the government except that they don't mess over Soacial Security, Medicare, Student Loans, start wars that we should not be in, go assist in a foreign nation like Viet Nam when they need to fight their own battles, or have a Congress that doeas nothing and we taxpayers have to pay them.

 

So as you can see, they have totally blown all of the above.  I have paid into SS since 1967 and to hear some crazed fool like Ryan saying it's an entitlement and I'm taking something I didn't work for, pay into and somehow I'm a "TAKER" and not a "Maker" just makes me want to beat his ****.

 

He is the one who has NEVER had a job.  He is the one who got his education from his gather's Social Security checks, but I'm a Taker.  This boy is a real idiot and a danger to America.

Texican515
Oct 8, 2012 9:10AM
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"HOW BOOMERS WIL REINVENT RETIREMENT"

1) Live in poverty

2) Work till you die

Crying Tree
Oct 8, 2012 8:58AM
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Thank You Baby Boomers. After I retired I went back to work helping build one of your inventions, the internet companies who supply much to the modern world. I'm not one of you but you guys & dolls were fun. The baby boomers paid more than their share in lives & money for their retirements & freedom for all.
BrandonKat
Oct 8, 2012 10:43AM
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I'm 63 and have bad arthritis.  My job is very shaky because there isn't much work.  I was lucky to get this job three years ago because nobody wants to hire an old lady.  Just yesterday I made up my mind that if I get laid off, I'm retiring - some way, somehow, I will make it work.  My younger sisters are both retired from their govt. jobs.  I'm going back to Florida where I lived for nine years and where my health was better.  My sister still lives there and we miss each other alot.  Living up north isn't great on the joints and all the snow shoveling and yard work hasn't helped make them feel better.  So.... now I'm going to start getting rid of my stuff to get ready to sell my house.  I don't need much more than a cheap  trailer, a TV, a microwave and a small fridge and plenty of friends.  I already have two folding beach chairs and a card table to take with me.  I feel so happy at the thought of getting out of the rat race.  Unfortunately, I don't think there's going to be a job left behind me for someone else to fill.
vanhalen not vanhagar
Oct 8, 2012 6:27AM
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Lets see CD rates less than 1%. Long term munies about 2%.Inflation on gas,electric,medical,oh​ wait they don't count that in the CPI. Retirement is a pipe dream for the majority of the middle class. Reverse mortgages are a rip off and pay nothing too. Age discrimination is rampant. Hate to blow our bubble all you boomers but then I think most of us already know we have been sold down the river by both parties and the Fed.
scullyrn
Oct 5, 2012 11:21PM
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Maybe if our wonderful government would keep it fingers out of the ss pot, who knows how long it could last. I have decided I don't want to be represented any longer. I want to make my own decisions when it comes to the government and their votes and my say so in it!
saph500
Oct 8, 2012 12:04PM
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has anyone on this board read the US constitution ? Its the US Congress that tax and spends! Its the US congress that that votes to raise the DEBT LIMIT . Itsd the US congress that has spent more than we take in ! Its the US congress that has spent whatever the POTUS wants . Its the US congress that has the power to do all that ! We have real problems in this country that ONLY the US congress can fix ! And guess what they went on another 5 week vacation with all this on the back burner ! The fiscal cliff is their baby ! The tax codes and any changes is their baby ! All the earmarks that adds billions to the debt is their baby ! Congress is the problem not the POTUS whoever it may be in Nov it does not matter its the US congress that has to be changed! We need to unelect any member of congress that has been their for over two terns ! And that includes Paul Ryan ! Look at his voting record in congress . LOL He is truly part of the problem ! His voting record is there for all to see ! BTW ONLY CONGRESS HAS THE POWER TO TAX AND SPEND... America land of the free? Home of the truly stupid....Thats the USA today with the best congress money can buy ! IDIOTS ....Let the cliff come , let the Bish tax cuts expire , and the republican house of reps needs NOT TO RAISE the debt limit. ....
carpetbagger7
Oct 5, 2012 9:21PM
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This boomer doesn't see any chance of any sort of retirement.  All savings for "retirement" were spent on living expenses due to an expansive bought of unemployment.  Luckily, I won't "live longer" as I now have no health insurance-a bout of cancer will most likely bring on my demise.  For now, I try to enjoy each day like it is my last.
Someone (dss wa.)
Oct 5, 2012 10:13PM
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 In the future and to a great extent now your best bet is to die early cause seniors will not have enough money to live on. Shame on the U. S. A. for not taking care of its older citizens.
SgtUSMC10461965
Oct 5, 2012 11:06PM
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I was working for Uncle Sam in 1986 when new Federal employees were brought under Social Security.  The agency I worked for developed training courses for retirement administrators and employees because currently employed Federal employees had the opportunity to remain in the old system or go to the new system.  We used an hour-long VCR presentation where the two systems were compared with each other.  One of the messages I took from the training that I repeated over and over in these training sessions was that the employment world was changing, that employees were now responsible for their own retirement, and that even a fully comprehensive retirement system such as the old system would require savings to have a satisfactory retirement.  I'm sure the message went in one ear and out the other; for others, they tried but circumstances beyond their control thwarted their efforts; for others, they listened, acted, and hopefully are enjoying a happy retirement as I am.

The message is:  You are responsible for your own retirement!!!!!

To repeat:  You are responsible for your own retirement!!!!!!!!!!​!!!!!

Once more:  YOU ARE RESPONSIBLE FOR YOUR OWN RETIREMENT!!!!!!!!!!​!!!!!!!

When I first started working in the 1960s, I heard that Social Security would not be there for me.  Of course, that was wrong.  It's actually better than what was available in the 1960s.  One can expect that it will be there in the 2030s and 2040s.  Hopefully, it will be better.  However,

YOU ARE RESPONSIBLE FOR YOUR OWN RETIREMENT!!!!!!!!!!​!!!!!!!!!!


RON
Oct 8, 2012 9:42AM
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After working for 45 years I'm finally eligible to retire but can't because I'm now helping my college educated kids who can't find decent paying jobs in their fields.

NanaBanana1947
Oct 8, 2012 6:18AM
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This "Babyboomer" will reinvent her retirement by working! No choice in the matter.
Quakkerz
Oct 8, 2012 10:42AM
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Our taxes are again not fair to the people.  I believe we should eliminate the IRS altogether. Yes, just fire them.

 

 I do believe in paying my FAIR SHARE, as we need to pay for defense, etc., but listen up.  How do all of you younger folks in the workforce feel about uncle sugar making you pay taxes again on your retirement withdrawals, and then make you pay a 50% penalty ?!!? if you don't ?   When you're 701/2 years old and need it most !  Disgusting and outrageous!  In fact; criminal.

 

I'd really like to see all of the Washington D.C. government politicians removed from same.

 

Trust God and your family.

MortJ
Oct 8, 2012 10:44AM
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I was laid off in 2010 from a job I worked at for 11 years when some young exec with something to prove decided India needed more American jobs. Fortunately, I have specialized skills and was able to find work about a month later, just not making as much as the job I was laid off from (my new job was with a much smaller company than the one I had been laid off from).

I was in good financial shape with no outstanding credit card balances, car paid off and the only outstanding loan I had was the mortgage on my little ranch house. So even finding a job paying less only hurt for a little while but the important thing was I didn't lose my house and even was able to refinance my mortgage at a much lower rate, taking advantage of a free refinance deal offered by my mortgage company .

I love my new job but I hate their 401k plan. I have a finance background though I hadn't worked in the financial sector for 20 years but the funds my new job offered on their 401k plan were the crappiest mutual funds I've ever seen. I asked the company's head of accounting is that all the funds I can choose from in their 401k plan and he said, “that's it”. The head of the accounting dept. at the new place was not too happy with me when I told him the 401K offerings were nothing but s—t and I wouldn’t put 50 cents on any of those funds.

So instead of signing up for that awful 401k plan the new place had and since they hadn’t offered any contribution matching in years, I opened my own IRA account, had my 401k funds from my old company transferred into it, researched and found a bunch of funds I liked and started investing into them each month without fail. Well my own IRA has outperformed even my old companies' 401k plan and definitely outperformed the funds at my new company and my own IRA has been profitable even during the slow recovery.

I don't recommend this to everyone unless you're used to investing but I picked low to moderate risk mutual funds. You do have to research though and pick the funds that weren't too shaken up by the economic downturn. Be sure to also itemize your income taxes to take advantage of the tax shelter from your contributions since these are tax exempt until you start withdrawing.  Any good income tax program will do this for you. Find help if you need to but stay away from the “big chiefs” who only are interested in making money for themselves and don’t care if their clients make money or not.

eseclown
Oct 8, 2012 11:50AM
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The tax policies have been bought/lobbied to benefit corporations and the rich.  Until everyone understands this and changes how laws are made, there will be deterioration of support for all of us who have worked hard into retirement.
MNGuyAge24
Oct 8, 2012 12:02PM
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Thank you corrupt politicians for destroying our finances. I know i will never be able to get SS or even have a good enough 401k that will beat inflation. But i have true friends and family. When the downfall of this country happens we will survive without the government's help. I know i am strong and have experimented with how to live in a car and have emergency plans. So suck it you corrupt politicians.
boomboomman
Oct 5, 2012 10:51PM
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Why didn't they mention the alternative of moving to a foreign country? Even those on SSI can afford to live in certain areas as witnessed by Filipinos who come to the US, get SSI and return to the Phils to live well. I live in Asia on my SS and live well. I was paying over $500 a month in FL for a small mobile home lot whereas in Asia I only pay $150 for a furnished apartment and no raises in rent here for 15 years where the slum lord in Orlando hit us every year for increases. Explore opportunities in Central/South America; there are mags, just google them. (no free ads here).
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