the Baby Boom
Generation evolution continues....
It is well worth paying attention to the issue of baby boomers and retirement because of their very high numbers. Over 77 million boomers will enter retirement over the next twenty years. Issues that some boomers will face include maintaining a desirable lifestyle on what may be limited and reduced funds, financing and obtaining adequate health care, and adapting and adjusting to the physical changes often associated with aging.
The issue of boomers and retirement is becoming more real and more pressing every day. With its estimated 77.6 million members reaching retirement age over the next two decades, a sea change will take place in American society. This largest generation will move from the predominant spending force in the society into the challenges of aging and retirement.While some will have very comfortable means to sustain them, a large proportion will be dependent on Social Security Retirement benefits at a time when some question the stability of that program. For many baby boomers, retirement also means moving from private insurance to Medicare for health care needs. At the age of retirement, many people have pre-existing conditions which make obtaining additional coverage difficult or prohibitively expensive. While Medicare is a great boon, it is not free for Part B which includes non-hospital charges, and it only pays 80% of expenses that it covers at all. For those surviving on Social Security Retirement benefits solely or primarily, even that Part B premium may be painful.