3 Ways the Economic Crisis Is Destroying Baby Boomer Retirement

Boomers working beyond retirement age or involuntary retirement

Now a new combination of forces is impelling change. The necessity today is to encourage people to continue to work in ways that truly use their talents to support the economy as well as themselves. It is essential that those who have a strong need and desire to work in this new way have every chance to realize that objective and every opportunity to use their accumulated human and social capital in areas where it matters most....demonstrating the potential of an encore career.

Boomers define ourselves by what we do for a living. Our career reflects innate abilities, goals, creativity, attitudes toward others and a host of other mysterious variables. In the skewed path to fulfillment, it's human nature to taste many jobs and experiment with new careers before we settle on something we are passionate about. The best we can strive for is finding something we love doing early on so we can devote the rest of our lives to excelling at it.

Both unemployed and employed boomers, who are planning to work before and/or after retirement, would be wise to learn some effective career transition tips ( www.JobCoachTips.com ) to pay attention to long before he or she is walked out of their workplace.

John Agno of MI @ Nov 28, 2008 11:45:00 AM

Looking forward

It is natural to be fearful of the unknown, such as the future of our great country. However history is a great teacher, we have been through many "recessions/depressions" since our freedom from England. The glass is half full, "FILL IT UP". This is now not a one country economy, it only benefits us all to realize that and the potential that brings. I do not and will not believe that because "US" baby boomers are starting to retire that the world will come to an end. I know and have confidence in our children to carry this country and world forward. I don't expect everyone is going to lie down and give it up. I also do not believe our creator will allow that to happen. Our morals are doing more damage today than we realize. Clean it up, be what your creator made it possible for you to be. I increased my deposits into my 401k, this country operates off the capitol stock holders have. The quickest way to dry up our future is to quit looking forward.

God Bless America

Michael Smith of ID @ Nov 14, 2008 14:48:21 PM

Looking forward

It is natural to be fearful of the unknown, such as the future of our great country. However history is a great teacher, we have been through many "recessions/depressions" since our freedom from England. The glass is half full, "FILL IT UP". This is now not a one country economy, it only benefits us all to realize that and the potential that brings. I do not and will not believe that because "US" baby boomers are starting to retire that the world will come to an end. I know and have confidence in our children to carry this country and world forward. I don't expect everyone is going to lie down and give it up. I also do not believe our creator will allow that to happen. Our morals are doing more damage today than we realize. Clean it up, be what your creator made it possible for you to be. I increased my deposits into my 401k, this country operates off the capitol stock holders have. The quickest way to dry up our future is to quit looking forward.

God Bless America

Michael Smith of ID @ Nov 14, 2008 14:48:18 PM

goverment plans fullfilled:

Too the Babby Boomer Generation :

Finally the goverment has found a way arround having to worry about your social securty funds you and your employers have been paying into for the last 45 to 50 years. They suckered you into the 401k and ran wall street into the ground, took your real-estate equity away and now you will never be able to retire or draw much of that S.S. you paid into since your first job pumping gas for Texaco.

Do you really wonder why? The Goverment can not afford for you to retire. They spent your S.S. along time ago and there is nothing left to collect. We as a country are so deep in debt and now the goverment needs you to continue working {till death if possable} and paying in those taxes. Futher more there is no replacement generation to fill our jobs. The baby boomers pay about 80% of the taxes collected. Our skills,education and over all wages and taxes paid can not be replaced. This whole economic mess has been in the plans and works for several years

and now the closer we get to your retirement date the less you will have. Think about the last few years were we have recieved no wage increases and yet prices kept going up and the only help was another credit card or home equity loan . Your future has been sold down the drain . Oh that health Insurance the only place you will get is KEEP WORKING And Paying those Taxes

remember Uncle Sam Needs YOU !!!

we mullen of AZ @ Nov 12, 2008 00:23:54 AM

Economic Crisis

I agree with the person who wrote: A SOCIETY THAT IS NOT SELF SUSTAINING WILL ONLY LOSE GROUND IN THE GLOBAL MARKETPLACE. We also need to look at ourselves, our spending habits, our buying anything on the shelves - was it made in TimBuckToo, or "Made in the U.S.A.?" Went to Target the other day to buy socks - of all the socks displayed, I found ONLY ONE that was "Made in the U.S.A." That's the ones I bought. Take a look at what we've "shipped in" from all around the world, vs. what we buy that's made here!

Saw Salmon Steaks at the grocery store the other day - "Product of Indonesia" - - - good grief, people! If we keep buying, of course the stores will carry that merchandise - same thing with WalMart - they are slowly and silently cutting off the merchandisers profits with their demands that the merchandiser sell for less to them.

"We Reap the Harvest that we Sow!"

It's easy to 'blame' the big guys for our downfall - yes, they are at fault also, but WE need to examine OURSELVES and our spending habits.

The 'he hit me first!' mentality will get us nowhere. Let's all do our part to examine our own households before we go throwing stones.

God Bless America!

Jean of SD @ Nov 11, 2008 07:37:57 AM

Change the focus of the economy

I agree there are less profitable manufacturing jobs in the United States. Our economy is overly dependent upon the financial industry. What ever happened to "made in the USA?"

Christopher Thaens

New York City

Christopher Thaens of NY @ Oct 23, 2008 11:24:19 AM

Our Pathetic Economy!

So, we've pointed a finger of guilt at Washington and Wall St. How true. but what about the centers of higher learning. It's easy to say go back to school and up-grade your skills. Go ahead, you still won't find employment in the private sector that will justify the financial hit to your pocketbook. The real problem is that we've lost our focus on what a good job exactly is. Shoes are no longer made in New England, textiles in the South and Heaven only knows what happened to the auto industry in Michigan. Technology is great, but at what cost? A society that is not self sustaining will only loose ground in the global marketplace and the false promises of job security a knowledge based, service sector economy boast is finally reality. It's not just living beyond our means that has led to this disaster, it's poor planning by government, industry and education that has compromised our standard of living. Technology, what a joke! It's just amazing how well our fathers could provide for a family 50 years ago. Oops, I forgot! That was a society that actually manufactured things!

GK of IL @ Oct 22, 2008 20:53:54 PM

did ya actually think

did ya actually think that the stockmarket was going to stay up?

History bloke, look at history.. this is a long roller coaster that we are going to be on, and it is best to look at this type of Realistic news not as negative, but as preperation. Knowing what to watch out for, knowing what to be concerned about, and knowing what to beware of..

Knowing what options may be out there.

I rather hear the truth rather than all the fluff and puff we got about how "great" the economy had been these past couple of years, but actually it was building an economy on quicksand.. just waiting to sink.. and sink it did..

thanks for the real info of CA @ Oct 15, 2008 22:35:29 PM