Thursday, February 12, 2015

Baby Boomer's Notion of Aging, Retirement and Long-Term Care

Majority of baby boomers are seriously weighing retirement now, with more things to put into consideration and quite a number of expenses to anticipate. They are indeed setting a new trend and are redefining retirement based on current circumstances, instead of dreaming about life's luxuries and leisure, they are taking retirement one step at a time.
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Moving and adapting to your retirement life is far from being easy, you have to enter a new chapter in your life gradually. You have to determine if you are completely ready - emotionally, financially and psychologically. A lot of boomers prefers to work as long as they can, but the future is not as stable as we thought it was, there are certain situation that hinders our plans, and our careers may be cut short due to health problems, downsizing or caregiving for an ailing family members, this is why planning is important.

Some baby boomers may still be working full time, others, part time, while the rest decides to enter into business. If you are one of the boomers who are in their 50s, you have one to two decades before retirement, and by this time, longtermcareprimer suggested that you should have set up your goals, limits, nest egg, plans and thought about risk like market uncertainty, health and long-term care cost.

Retirement may present both an opportunity and a challenge, it is up to the baby boomers how they are going to prepare for it. With longer life expectancy, more career-oriented and increased expenses, baby boomers are totally reinventing retirement with their own notion on aging, long-term care and health.

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