TIPS THAT COUNTER PANIC IN RETIREMENT FOR BABY BOOMERS

The population of baby boomers today is 73 million which more than 25% of the entire Americans population. Medigap Plans help pay the gaps of Medicare including deductibles and coinsurance.

Since they are a cohort group, they are retiring at least 10,000 per day which is somewhat bringing confusion to the whole of American country. The reason is that they are the drivers of the US, economy and have made massive investments since.

The confusion comes in when there is the thought of who will take up from them since it has been the most hardworking generation.

Much as they have made a lot of investments, savings have become a challenge due to the industry fluctuations, high bank rates, and industry challenges. Even with all these challenges, baby boomers are believed to be generous to the needy and their children. They have impacted the lives of the less fortunate.

Research has however proved that retirement period can turn out to be the best when taken with the seriousness it deserves and some of these positive considerations are listed here below.

  1. To continue with a fit lifestyle, make more money even after retirement- people have believed that after retirement they should only rest and spend all that they saved during their working life. This has however changed as baby boomers have gone ahead and worked on new investments which generate huge incomes and support the retirement savings.
  2. Consult during the transition- Much as baby boomers make decisions on their own, it’s crucial to make consultations since retirement is not an easy decision and one needs to live happily for the rest of the years, Making consultations will help one overcome challenges that one may undergo during the transition.
  3. Remember that time is still enough and on your side- After 65 years, there are still 25-30 years that one should expect to live and as such ensure that when at this point, engage in money-making activities, have fun in life and make the best out of it.
  4. Re-invent- Always think of what you can positively work one, achieve and celebrate with other boomers to prove that retirement is not the end of life but a beginning of a new stage in life. Plan for timeouts and enjoy as much freedom as possible to avoid chances of illnesses which may shorten your life.
  5. Lead others into excellent pioneer mileage- Baby boomers are going getters and should pioneer great minds. With over 73 million Americans who are currently baby boomers, offer guidance and counseling to those who may not have great memories.