Wednesday, September 28, 2011

What's next for the Baby Boomers?

Along with many others born in the era of what is known as the Baby Boom, more and more of these (now adults) are being forced to retire at a later age than expected, or desired. However on the other hand, due to health risks, disabilities, and other setbacks some adults even have to decrease their hours or change the type of work they do to accommodate their aging, without giving up a steady income. A recent example of this was when the CEO of the innovative company Apple, Steve Jobs, stepped down from his throne after deciding that his health was more important. Along with the frightening idea of the inability to work, comes the concern of job loss. As Forbes states “when workers 55 and up lose their jobs they remain unemployed for a year on average with devastating consequences for their retirement savings.” http://www.forbes.com/sites/janetnovack/2011/08/25/steve-jobs-health-and-the-boomers-retirement/ This is a direct hit for the large number of Baby Boom children, trying to attain financial stability and eventually reach a relaxing retirement.

Lauren S.

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