Not your grandfather’s retirement: Boomers to hit 65
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WASHINGTON—The baby boom generation turns 65 on Jan. 1, marking a milestone in the graying of America that portends vast economic, social and cultural changes for the United States.
As the first of the 76 million US boomers reach the magic age in 2011, they will likely transform the notions of retirement and old age instead of following in the footsteps of their parents, say experts.
The demographic trend means a shock to the economy, government finances, a strain for the health care system, and even a potential shift in America’s role as a global superpower.
But analysts say this won’t be your grandfather’s retirement.
“Even though 65 is the conventional retirement age we’ve become accustomed to, this generation doesn’t look at retirement as the kind of cliff-ending of a career that previous generations had to experience,” says John Challenger, chief executive of the consultancy Challenger Gray & Christmas..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20101028com7.html
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