A recent Merrill Lynch retirement survey of more than 3,000 Baby Boomers reported that 83% intend to keep working and 56% of them hope to do so in a new profession.
Millions of Baby Boomers are financially unprepared as they approach traditional retirement age. A staggering half of households headed by 50-to-59-year-olds have $10,000 or less in their 401k accounts.
Relying solely on Social Security, Medicare and a company pension for retirement security is risky at best. The smarter, safer approach is to plan for a future wherein retirees work longer, pay more for medical and long-term care and receive lower Social Security and pension payments than previous generations did.
A recent Merrill Lynch retirement survey of more than 3,000 Baby Boomers reported that 83% intend to keep working and 56% of them hope to do so in a new profession.
Relying solely on Social Security, Medicare and a company pension for retirement security is risky at best. The smarter, safer approach is to plan for a future wherein retirees work longer, pay more for medical and long-term care and receive lower Social Security and pension payments than previous generations did.
For Baby Boomer retirement tips, go to:http://home.att.net/~coachthee/Archives/babyboomerstoday.html
Source: BusinessWeek, July 25, 2005