1. Baby Boomers Retirement Woes
Article by Rosan Kanas
Baby Boomers retirement woes forge on. Currently
studies indicate that Baby Boomers are accepting the idea of being empty nesters and are very
concerned about the impact of their retirement plans. Sociologists define the Baby Boomers as
being born between the years of 1946 and 1964. Many experts say the Baby Boom
phenomenon was a one time event. The solution may be that boomers will have to work longer
or find their own home based business.
Consider the issues baby boomers are dealing with when it comes to retirement. They have an
array of emotions about the situation. Approximately 40 percent are not sure if they will have
enough money to live comfortably due to todays economical woes. Unlike the younger
generation there is no slack in the boomer retirement plan. Yet with life expectancy stretching
passed eighty years, being able to financial survive is a constant concern.
Another issue is the demands on the health system and care services for the Baby Boomers. It
is an issue that must be managed by a complex, and often political, institution known as “the
family”. All those years of working, paying into Social Security and Medicare, will not cover our
medical needs as we age during retirement. An example of this:
A daughter is taking her mother to the hospital monthly for cancer treatments. The mother
received a very small raise in her monthly Social Security check. Because of that raise, during
this last trip to the hospital for treatment, she was informed that she would have to start paying $
2,500.00 monthly for her cancer treatments. She asked why and was told that Medicare would
no longer cover the total cost of this treatment because she made to much money. Our hearts
go out to this woman.
Congress is trying to give the Boomers some assistance by the House passing the Edward M.
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2. Kennedy Service America Act. This act provides more volunteer opportunities for middle school
and high school students. It also, recognizes baby boomers’ enormous potential for civic
engagement. The bill expands existing services such as AmeriCorps which will now have
money reserved for enrolling adults over 55. The government is encouraging us to take both
volunteer and paid non-profit positions. The New York Times quotes John Gomperts, president
of the nonprofit research group Civic Ventures says, “It represents an attitudinal shift in
Congress an important recognition that national service isn’t just for the young.”
The bill consists of the following:
A. Public private partnerships and older Americans service opportunities are being expanded.
B. Two new fellowships to engage social entrepreneurs, boomers and retirees, the private
sector and Americans from all generations into service. The two new fellowships are as follows:
1. ServeAmerica Fellowships: ServeAmerica Fellows are individuals who propose their own
plans for serving in their communities to address national needs and are matched up with a
service sponsor.
2. Silver Scholarships and Encore Fellowships: These programs offer Americans, age 55 or
older, post-career service opportunities as well as entrance into new careers in the public or
nonprofit sector. Silver Scholars will be able to earn up to $ 1,000 in exchange for 350 hours of
service. This new Bill will only create work for the Boomers until it is time to meet their maker or
they just are unable to work anymore.
As Baby Boomers retire their woes continue to forge on as to what are they going to do? If you
think it does not affect you, think again. Everything from the financial health of countless
companies to the solvency of Social Security is at stake as boomers retire in the coming years.
However, the answer may be the baby boomers will have to work until they no longer can work
or find their own self proprietorship.
About the Author
Rosan Kanas has a network marketing home business and is an entrepreneur. She is from the
baby boomer era and has teamed with Jerry Rocco and Jay Kubassek both share their
knowledge and have provided training which has helped her progress. Her goal is to partner
and train with ambitious people. This is her way of giving back to society. Click the link below to
find out more:
http://Business4ALifetime.com?t=article3
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