Oldest boomers and the youngest boomers differ in their concerns about retirement.
The biggest concerns of younger boomers are outliving retirement money and having to work full or part-time. among the older boomers, the biggest concerns are affording health care and staying productive and useful. amazingly, a quarter of the older boomers surveyed by MetLife Mature Market Institute said they have no concerns about retirement.
This is just one of the findings of a new report from the MetLife Mature Market Institute (MMMI) called Boomer Bookends: Insights into the Oldest and Youngest Boomers. Sandra Timmermann, Director of the MMMI, will join us at the What’s Next Boomer Summit to talk about boomers and money (www.boomersummit.com).
The report compares the leading edge boomers (born in 1946) with the trailing edge boomers (those born in 1964). Other differences among the oldest (1946) and youngest (1964) boomers:
The youngest boomers disassociate themselves with the term “boomer” and would rather consider themselves Generation X.
The youngest say they will consider themselves old at 71. Oldest boomers say old is 78.
As part of this trend survey, some of the respondents from last year’s survey were recontacted. Seventy-one percent of this small group who planned to retire fully at age 62 did not. of those, 26% reported the current economic situation as the reason. One in five said they need more money or income.
Read more about the survey results.