Boomers Redefine Retirement: An Intro to Our Series on Baby Boomers

A moment in history went relatively unnoticed on Jan. 1,
2011.

The oldest of the baby boomers turned 65 years old.

And, according to the Pew Research Center, 10,000 more boomers will cross the same threshold every day for the next 19 years.

What’s next for the boomers? They have lived through the hippie era, the Vietnam War, civil and women’s rights movements, several major economic recessions and the advent of the technology craze. Most are expected to live longer than any generation before. Most boomers believe ‘old age’ begins at age 72. As such, they are still very active and will continue to want to live an active lifestyle.

As the boomers start yet another phase of their lifetimes (retirement), they will once again make history. If the boomers react to
retirement according to many analysts’ expectations, the group will redefine what retirement means to them, which is beginning to take on a different definition than previous generations.

Going back to the Pew research, 61 percent of the boomers
reportedly feel nine years younger than their actual chronological age. They have demonstrated their desire to remain active in community, some wanting to continue to work and others to continue learning new skills, or taking a more leisurely approach to lifelong learning by taking recreational-type classes. Some will learn to dance and even a few will get their first tattoo. Half of the boomers are using social media (Facebook and Twitter) for both professional and personal needs.

According to the U.S. Social Security Administration Office
of Retirement and Disability, the boomer years are for those born in 1946 through 1964. As of December 2010, there were more than 51,000 retired persons living in Stark County receiving Social Security payments. According to AARP (American Association of Retired People), boomers surveyed in 2002, 2003 and 2007 responded
this way:

• 7 of 10 baby boomers project they will work past the traditional retirement age for monetary needs and to keep active. With boomers rated as one of the most educated generations in history, they also want to keep working for emotional reasons because they often define themselves by what they do for a living.
• The two top concerns for boomers as they approach retirement include their financial condition (25 percent) and health issues (25 percent).
• Taking care of one’s health, spending more time with family, traveling, volunteering and making time for interests and hobbies are all activities that boomers plan to participate in during retirement. 

With the significance of this year being the first year boomers reach the typical retirement age of 65, North Canton Patch will take a look at some of the areas that boomers will use to build their own definition of retirement.

The next several articles will look at the financial side of retirement with tips to prepare for retirement, stepping out of the comfort zone and learning new skills or taking on new activities, going back to school for the fun of learning, going back in time with local museums or starting a genealogy project, releasing the creative genius, taking wine and cooking classes, getting or staying in shape, volunteering, socializing and a host of other items.