Boomers to reinvent the standard American retirement

hottubNew circumstances will change the way Baby Boomers handle their twilight years. Perhaps the biggest change is how long the Boomers will work. Retiring at 65 is becoming a less and less pervasive standard. While this may seem like a major drawback, it’s actually a blessing in disguise — the extension of working years stems from an extension of life expectancy.

The real tough difference for Boomers is the death of pensions. Boomers are funding their own retirements and often carrying mortgages or consumer debt into retirement with them. Many will be cutting back on discretionary spending to make retirement the stress-free, enjoyable period in life their parents enjoyed.

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