Baby Boomers Ready to Retire Early With Enough Money?

(Newswire.net — April 3, 2014) Bournemouth, DORSET  – Baby boomers aged from 50 to 68 and many elderly looking to retire are concerned that they do not have the financial means to do so independent of getting help from the state.

 

According to Business Week, many greying boomers are less secure financially and have a lower standard of living than their aged parents. Boomers lost more than any other group in the stock market and housing bust of 2008, and as a result quite a few suffered  job losses.

 

Having the necessary resources is the main reason baby boomers  choose when to retire rather than age.

 

Many baby boomers will keep working and earning money during their retirement years, but will alternate between periods of work and leisure, according to a survey by Merrill Lynch.

 

Financial Finesse’s  2013 Generational Research study, which examined 20,575 employee assessments taken on the financial education company’s website.  Baby boomers  face problems their parents did not, such as big tuition bills for their kids’ college educations and a lack of savings for long-term health care.

 

“Too many people turn age 62 or 65 and immediately retire without having any financial plan in place,” says Sacramento certified financial planner  Elfrena  Foord.  “They just don’t connect the dots and end up with money problems just a few short years into retirement.”

 

In October 2013, a Wells Fargo survey of 1,000 working adults found that 34 percent plan to keep working until age 80 because they don’t have enough money to retire comfortably

 

With all these people in a serious position financially what are the solutions open to them as they age and become less productive?

 

Forex Elite Investments Ltd  believe that implementing their investment strategy could be the solution for not only baby boomers but any generation to solve their financial situation.

 

To find out more Click Here.

 

Sources:

 

http://www.businessweek.com/articles/2014-01-02/baby-boomers-poorer-in-old-age-than-their-parents

http://seniorliving.about.com/od/retirement/a/newboomerretire.htm

http://www.cnbc.com/id/101487642

http://www.sacbee.com/2014/04/01/6285976/are-you-financially-ready-to-retire.html

http://www.huffingtonpost.com/jason-gordo/finding-the-magic-number-_b_4905921.html

http://en.wikipedia.org/wiki/Baby_boomers