'Leading-Edge' Boomers Seek New Balance Of Work, Leisure
Last updated Monday, January 22, 2007 7:06 PM CST in Your Family
By Korky Vann
The Hartford Courant
"Leading-edge" boomers -- who turned 60 last year -- are dreaming about retirement, but don't expect to see the Forever Young Generation on the shuffleboard courts or in the bingo halls anytime soon. The midlife transition that boomers envision looks very different than that of their parents, who picked up gold watches and headed for Florida.
Research shows that more individuals are choosing a post-retirement career jump, new business ventures or skipping retirement all together. More baby boomers are seeing retirement as a lifestyle change and a new opportunity rather than the conclusion of a career, and nearly 70 percent report that they expect to continue working well into their retirement years, according to AARP surveys. Anita Campbell, founder and editor of Small Business Trends, has labeled the phenomenon "un-retirement" and says boomers are the driving force toward a new balance of work and leisure.
Boomers -- all 78 million of them -- are a formidable force, says Joan Fitting Scott, author of "Skinning the Cat: A Baby Boomer's Guide to the New Retiree Lifestyles."
"Every eight seconds, another boomer turns 60 and starts contemplating the days ahead," says Fitting Scott. "That's 11,000 individuals daily; 4 1/2 million a year. They're living longer, healthier lives. They came of age on sex, drugs and rock 'n' roll. They've redefined every stage of life so far. Are they going to pick up golf clubs like dad or granddad? I don't think so. Only 17 percent say they want a 'typical' retirement. The rest are opting for a path more in keeping with what they see as the 'boomer character'."
But figuring out what to do with the rest of your life can be challenging. To help make the best choices, soon-to-be retirees are turning to retirement coaches, retirement self-help groups and even retirement retreats for inspiration. These businesses are among the newest in the so-called "silver industries," a term coined by Harry Moody, director of academic affairs for AARP, to describe new companies responding to America's aging population.
Some answers might be as close as your library or bookstore. A new crop of books covering second careers, volunteerism, financial security, health and wellness, hobbies, downsizing and aging in style provides important information for middle-age transitions. Among them are:
* "Boomer or Bust: Your Financial Guide to Retirement, Health Care, Medicare, and Long-Term Care" (Prentice Hall, $17.99): Elder law attorney Steve Weisman writes with the sandwich generation in mind, providing information on IRAs, 401(k)s, annuities, reverse mortgages, long-term-care insurance, home care, assisted living, nursing homes, living wills and advance health-care directives.
* "You Can Do It!: The Boomer's Guide to a Great Retirement" (Collins, $26.95): Jonathan D. Pond's comprehensive, easy-to-use guide is by the man who's been called "America's financial planner."
* "Skinning the Cat: A Baby Boomer's Guide to the New Retiree Lifestyles" (Infinity Publishing, $9.95): If you see retirement as an opportunity to reinvent yourself, Scott's book can help. It looks at retirement possibilities such as continuing full-time work or starting a business.
* "Where to Retire, 6th: America's Best and Most Affordable Places" (Globe Pequot, $17.95): John Howells' book provides information on housing costs, recreation, climate, health care and safety for more than 150 affordable, comfortable and stimulating retirement locations.
* "Your Complete Retirement Planning Roadmap" (Ballantine Books, $29.95): Ed Sloti's "leave-nothing-to-chance, worry-free, all systems-go guide" provides an action plan for securing your IRAs, 401(k)s and other retirement finances.
Distributed by the Los Angeles Times-Washington Post News Service
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