The Baby Boomer Bust
Boomers better keep on working
Having arrived after the Greatest Generation and the Silent Generation, the baby boomer generation had two tough acts to follow. These days, it’s really tough.
The Associated Press is running a story this week introducing readers to a handful of baby boomers now in their sixties who are realizing that retirement has been indefinitely postponed. The new “work till you drop” ethic is a tough nut to swallow for people who have been on the work force for over four decades and lived well enough in the past to support their own parents’ retirement.
There’s a unique story for each of the nation’s 78 million boomers, and a mess of common factors tarnishing their golden years. Technology and automation have left fewer opportunities, and scores of remaining jobs have been shipped overseas. Employed boomers are forever at risk of being undercut by younger, less experienced candidates willing to accept less pay (often, ironically, because they live with their baby boomer parents), and in the soured economy pensions have been lost and benefits cut. Nest eggs have been scrambled by a stock market in crisis. There’s no parachute for most baby boomers, let alone a golden one.
Here’s hoping things ease up for Generation X, hot on the heels of baby boomers, and for the young Gen Y and Echo Boomers to follow. They said ten years ago that Gen Xers would be the first generation in America not to enjoy a higher standard of living than their parents. If current trends continue at pace, the children of baby boomers could be working till they’re 85.
Sometimes called the “pig in the python” generation, adult boomers changed the shape of each decade they passed through. They reveled in the cultural revolution of the 1960s, the indulgences of the ’70s and ’80s, and the boon times of the ’90s. It’s an unforeseen and unwelcome downshift late in life, but the best economic times for baby boomers appear to be in their rear view.
inspire: live a better life
-
7 sun lies we tell ourselves
These tanning and skin cancer myths aren't just wrong — they can do serious harm. Wise up and head into a healthier future. P.S. You'll look a lot younger too.
-
Find happiness in unexpected places
It's possible to rejigger your brain circuitry and feel more joy, even on Monday mornings. Here's how.
-
Meditation 101: How to feel more zen—anywhere
Inner peace just got easier. You don’t need quiet, incense or hours to meditate, and you can scrap the chanting. Better: Ninety-five percent of you say you’re calmer after a single 10-minute session. Whatever your excuse (see ours), get your om on and reap the rewards.
-
How to be healthier & happier at work
Whether you like your job or not, putting in several hours at the office every week can hurt you mentally and physically. Use these tips to be happy and healthy at work.
-
Daily words of wisdom
We all know what it's like to be on the brink of losing it.
-
Responding to wedding questions?
Plus, how does one handle e-cards?
-
25 ways to pay it forward
Small acts of kindness can help anyone feel a little better. Here are some ideas to get you started.
-
How to handle friends in a different economic bracket?
Plus, how to respond when people ask how much something cost?
-
15 untruths you may have believed
If a tweet, story or Facebook update sounds too good to be true, it probably is a hoax, prank or rumor. We've rounded up a few more recent fallacies you may have believed.
-
10 interesting facts about the Earth
How much do you really know about the Earth? In honor of Earth Day, April 22, we explore some interesting and fun facts about the fifth-largest planet of our solar system.
-
How to get sh*t done in life
…by women who do. Your cheat sheet to world domination is here.
-
Should I confront a greedy wedding guest?
Plus, is it assumed that house guests will be slobs?
