The Boomer Files
Newsweek
November 14, 2005
Marketers, Take Note:
Baby Boomers Have Lots of Money to Spend.
U.S. News and World Report
March 14, 2005
Baby Boomers Set to Revolutionize Retirement
Houston Chronicle
August 21, 2005
Boomers, Advisers Unprepared
for Tetirement Tidal Wave
Investment News
June 6, 2005
New Retirement Survey Shows Boomers
Not Interested in Traditional Retirement Leisure
Retirement Living Information Center
April 2005
Redefining Retirement
Merrill Lynch AdvisorTM
April 2005
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Boomers Reject Their Parents
Registered Rep
April 1, 2005
Retirement for Many Baby Boomers
Will Include Part-Time Work
Sun-Sentinel.com
March 28, 2005
The New Retirement Model
Online Trading Academy
March 27, 2005
Boomer Mindset: Open Says-A-Me
Women’s Wear Daily
March 23, 2005
Mothers of Fashion Reinvention
Women’s Wear Daily
March 23, 2005
Definition of Retirement is Morphing
Sun-Sentinel.com
March 20, 2005
Their Time to Shine
Kansas City Star
March 20, 2005
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March 2, 2005
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March 6, 2005
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April 17, 2005
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March 22, 2005
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March 6, 2005
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March 10, 2005
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March 10, 2005
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February 28, 2005
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March 20, 2005
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February 28, 2005
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February 28, 2005
DBusiness
February 28, 2005
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March 28, 2005
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February 28, 2005
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March 4, 2005
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February 28, 2005
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April 20, 2005
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March 23, 2005
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March 22, 2005
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March 7, 2005
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March 22, 2005
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April 1, 2005
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May 1, 2005
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March 6, 2005
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March 23, 2005
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March 7, 2005
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February 23, 2005
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March 20, 2005
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March 4, 2005
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March 20, 2005
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March 13, 2005
Miami Herald
April 17, 2005
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February 24, 2005
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March 10, 2005
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February 25, 2005
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March 3, 2005
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February 24, 2005
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March 13, 2005
On Wall Street
May 1, 2005
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March 13, 2005
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March 2, 2005
Pensions and Investments
April 25, 2005
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February 23, 2005
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February 24, 2005
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March 27, 2005
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April 1, 2005
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May 1, 2005
San Diego Daily Transcript
March 7, 2005
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May 2, 2005
Selling to Seniors
April 1, 2005
Smart Money
April 1, 2005
South Florida Sun Sentinel
March 20, 2005
South Florida Sun Sentinel
March 28, 2005
South Florida Sun Sentinel
April 10, 2005
South Florida Sun Sentinel
April 25, 2005
St. Louis Commerce Magazine
April 1, 2005
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April 24, 2005
TheMatureMarket.com
March 8, 2005
Times Argus
March 6, 2005
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March 17, 2005
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March 2, 2005
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March 28, 2005
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February 28, 2005
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March 24, 2005
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March 22, 2005
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May 7, 2005
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March 7, 2005
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March 7, 2005
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March 24, 2005
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March 23, 2005
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March 22, 2005
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February 24, 2005
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March 22, 2005
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March 27, 2005
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April 1, 2005
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March 24, 2005
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March 31, 2005
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March 22, 2005
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March 1, 2005
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March 22, 2005
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March 23, 2005
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March 7, 2005
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March 22, 2005
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March 22, 2005
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March 29, 2005
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March 29, 2005
Merrill Lynch
New Retirement Survey
The leading edge of the baby-boom generation now stands at the threshold of retirement. Just as boomers have transformed every other lifestage they have passed through, they will also revolutionize retirement. In 2004, Age Wave, Merrill Lynch, and Harris Interactive collaborated in a groundbreaking national study that reveals how baby boomers envision their retirement and the coming decades of their lives. The study—which included a survey of over 2,300 boomers—builds upon conventional wisdom that boomers are not interested in pursuing a traditional retirement of leisure. Highlights from the study include:
- The new retirement “turning point.” While 76% of boomers intend to keep working and earning in retirement, on average they expect to “retire” from their current job/career at around 64 and then launch into an entirely new job or career.
- Boomers reject a life of either full-time leisure or full-time work. When probed about their ideal work arrangement in retirement, the most common choice among boomers would be to repeatedly “cycle” between periods of work and leisure (42%); this was followed by a preference for working part-time (16%), starting their own business (13%), and working full-time (6%). Only 17% hope to never work for pay again.
- It’s not about the money. While 37% of the boomer generation indicate that continued earnings is a very important part of the reason they intend to keep working, 67% assert that continued mental stimulation and challenge is what will motivate them to stay in the game.
- The unpredictable cost of illness and healthcare is by far boomers' biggest fear. They are three times more worried about a major illness (48%), their ability to pay for healthcare (53%), or winding up in a nursing home (48%), than about dying (17%).
- Boomer women are more financially engaged than in any generation in history. They are better educated, more independent, and simultaneously juggling more work and family responsibilities. Married boomer women are more than 6 times more likely to share responsibility for savings and investments compared to their mothers' generation (33% now versus 5% then).
- Financial preparedness is the gateway to retirement freedom and the antidote to retirementphobia. Accumulating the resources boomers believe they need for retirement freedom (81%), rather than age (56%) or any other variable, was cited as the most decisive factor for when they choose to retire. And, recognizing the growing uncertainty of government entitlements, boomers who have a plan and feel prepared are twice as optimistic and far less fearful compared with those who do not.
- One size doesn’t fit all. When it comes to retirement dreams and preparedness, there are 5 distinct and different boomer segments: the “Empowered Trailblazers,” the “Wealth-Builders,” the “Leisure Lifers,” the “Anxious Idealists,” and the “Stretched and Stressed.” The survey revealed how each group is doing, their plans and ambitions for later life, their level of financial preparedness, and how they intend to fund their future dreams.