Baby Boomer Statistics: All about the Baby Boomers Generation

By Anna D. Banks, GCDF

During the period between 1946 and 1964 or between post World War II and the Vietnam War, a significant increase of birth rate was recorded. This generation was called the baby boomers generation.

If you were born within the years 1946 and 1964, you can consider yourself as part of the baby boomers generation. This particular generation is one of the generations that contributed a lot in politics and also to the culture of the United States.

The main cause of the baby boom was the after effect of World War II. In this period, cities were in rubbles and world economies that were affected severely by the war were in need for goods and services. The needs were so staggering that it is considered as the largest in peacetime.

The United States have been providing a lot of money and also services for their allies in order to help them recover from the war. The United States factories which made war materials before began producing peacetime goods and materials for export. Because the United States began exporting goods and materials to the free world to help them rebuild their economy, it led to a very lucrative business and didn't slow down up until 1958. Because of this growth, education became cheaper and many people began attending colleges and some even took second college degrees. Because of the increase in education and high incomes of families in this period, it made it possible for them to produce more children. Besides, they had enough money and resources for it.

Today, the baby boomers population is one of the largest in the United States. In fact, there were almost 76 million Americans born during the baby boomers period. This means that they represent about 28 percent of the United States population. This is considered as one of the largest in the United States history.

You have to consider that there are now millions of aging baby boomers today who have reached mid-life. Because of the significantly high population of the baby boomers generation, they contributed a lot to the United States. They were the manpower who was also responsible for the increasing economy of the United States. In fact, you can even consider the baby boomers as the economy of the United States.

The baby boomers today also hold a large amount of government offices. In fact, the highest office in the United States already had 2 baby boomers, namely Bill Clinton and the incumbent president George W. Bush.

You have to expect that baby boomers will be on the political scenery for quite some time.

Also, because of the advancement of technology in the medical field, baby boomers are expected to live longer than their predecessors. Today, they now have access to advanced medical technology and great quality health care.

You should also expect baby boomers getting a hold of the judicial system for a long time in the United States. Statistics have suggested that baby boomers will be in political power up until 2010 to 2015. And, the political influence of baby boomers will be around for quite a long time.

Because people age, the government is also concerned about the health care budget for retiring baby boomers. As everyone knows, old age is always associated will illnesses and diseases, such as arthritis, diabetes, and heart related diseases. Because the baby boomer population is now in their late 50's and 60's, the government is now finding ways to adjust the national budget and dedicate more to health care benefits for retiring baby boomers. Obviously, the baby boomer population is one of the largest in the United States. Because of this, you have to consider the fact that without adjustment in the national budged, there will be shortages on health care financing.

Most baby boomers today are relying on their retirement benefits to provide for their health care needs.

As you can see, the baby boomers statistics on population is quite a large number. You have to consider the fact that baby boomers were one of the generations responsible for the significant boom in the United States workforce and economy.

Expect that society will further be influenced by baby boomers in the future and political views will be one of the fields that most baby boomers will have influence on.

© 2008 Anna D. Banks, GCDF
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Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Email your questions to me at Anna@AnnaBanks.com.

Baby Boomers: Don't Let The Cash Flow Stop Even After Retirement

By Anna D. Banks, GCDF

Except for the wealthy, the basic goal for almost all retirement planning is to ensure that your assets last, and your cash flow remains steady, for as long as you live. At the end of a regularly earned salary, balancing your retirement income against your total household expenses must be the focus of all further financial planning. Due to an increasing life expectancy, keeping the cash flow going has become increasingly critical. The average American, retiring at 65, can expect to live for at least another 20 years. So, it is essential that you don’t let the cash flow stop, even after retirement. Although the details of the strategies to accomplish that would vary according to your income, your lifestyle, and state of health, there are some basic moves that will help you to live adjust your income and balance it against your expenses.

If you are about to retire, or have already taken the big leap, you must first gather and organize all of the pertinent information to help you to manage your cash flow during retirement. Gathering this information, will give you an overview of where your finances stand, as of now.

• Get the latest net-worth statement for a quick look at your total assets, debt, and cash reserves.
• Make itemized monthly and annual budgets, with details of your income as well as expenses.
• Make sure you include all expenses, including rare ones like insurance, and club membership fees, as well as what you pay for investment management.

This information should tell you if there are major problems you might have to deal with. This could be anything from lack of an emergency buffer to an income shortfall. This information may also throw up areas for improvement, like the possibility of finding additional cash by eliminating unnecessary expenses. One thing to keep in mind is that even if you make reasonable assumptions today about returns, inflation, and living costs during your retirement, all of these may change, affecting your cash flow. Monitoring your income and expenses on a regular basis can help you address these changes as they arise, preventing major glitches later. Look for developments with the potential to affect your cash flow. For example, interest rates may change, and stock markets vary, causing a change in your income from savings or investments. Adjustments may become necessary, like reducing your expenses or altering your investment mix to add alternate sources of income.

Relocation to another state may change federal, state, or local tax rates with a bearing on your cash flow. While changes in the benefits from or eligibility for Social Security and Medicare and private insurance coverage can have a huge impact on living costs, circumstances like marriage, and the increase or decrease in the number of dependents can also throw your cash flow out of whack.

Pay close attention to cash flow, make sure you budget and monitor your income and expenses, and take significant action. In addition, you need to find a way to make the most of your savings, and maximize the cash flow from your investments while maintaining your capital. Retirement should be a time of peace and contentment.

© 2008 Anna D. Banks, GCDF
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Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Email your questions to me at Anna@AnnaBanks.com.

Career Planning for Baby Boomers -- Staying Motivated

By Anna D. Banks, GCDF

Staying constantly motivated and being able to handle rejection easily are the cornerstones of success with any kind of job-search. This is more so, for the mature worker seeking post-retirement employment, wanting to re-enter the workforce after a gap, or simply choosing to change their field of work.

Nothing puts your self-esteem more in jeopardy than a job search. Any job search can lead to self-doubt on a regular, daily basis. And this is especially true of job search at an older age, when you might doubt your own capabilities, your new market knowledge and may have to compete with younger fresher candidates. On the other hand, hiring managers, while they may value experience, are looking for cheerful and positive people. As a result, being visibly motivated is doubly important. If you are not motivated, the lack of motivation may be visible, and this self-doubt can lose you a good job opportunity.

Some things that you can do to help you maintain a positive attitude are:

• Spruce up your resume. Get help if necessary to polish and create a truly impressive, interesting resume. Rather than chronological, try a thematic approach; group type of work and responsibilities together rather than giving a simple date-wise list of employers. Once your resume sparkles, you will have much more self-confidence and find that you actually look forward to the job search.

• Remember to schedule “downtime.” Even when you are making 30 calls a day, sending any number of resumes, and checking every possible online jobsite, set some time apart, to do the things you enjoy. Go see a movie, take a trip with your spouse, or go out with friends. This will rejuvenate you for another day in the trenches.

• Make a ‘to-do’ list. Most people tend to work better with a set of specific guidelines. Writing down a list of the tasks you want to accomplish, not only helps you to organize your day, but also can be a morale lifter. Crossing the accomplished items off the list can give you a small morale boost each time.

• Tackle the fear. Most lack of motivation or procrastination comes from fear of rejection. Ask yourself what is the worst that could happen? On a call, for example, the worst is that they might hang up on you. A few hang ups, or “no thanks” are a small price to pay for the leads you can generate by regular networking and follow up.

• Post a picture of your children, your dream home, the yacht you want to buy, right next to your computer, reminding you everyday, why you want to work. Alternatively, put some kind of an action figure symbolizing the county sheriff who wants to auction off your house if the bank forecloses.

• Remember that networking is a numbers game. Every single phone call or enquiry is not going to give you a lead on a job. Keep making those calls. Get out your Rolodex and make as many as six calls an hour, five hours a day. At the end of each all, ask them for references of people you should be talking to. This will generate more leads and increase the size of your network.

Anna D. Banks, a passionate advocate for baby boomers in exploring their priorities, planning and setting goals for the next stage of their lives. Assisting her clients to attract and build a professional and personal life consistent with their values is not just a goal of Anna’s, it’s her passion. Her diverse work experience in business, education and financial services enables her to help the diverse population of baby-boomers with their life, career, and personal finance coaching needs. Anna is currently Adjunct Faculty at Essex County College, where she teaches Career Development & Management.

Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Post a comment on www.AnnaBanks.com or email your questions to me at Anna@AnnaBanks.com.

Do What Many Others Failed To Do – Planning For Retirement

By Anna D. Banks, GCDF

Many people put off planning for their retirement thinking that since it is years away in the future they can wait for some more time before giving thought to it. However, by delaying it you could end up losing substantial amounts of money. This, in turn, could be the decisive factor of whether your retirement will be a comfortable one or whether you barely get by.

Planning for retirement, therefore, ought to be begun as soon as possible. By beginning early, not only will it give you more time to create a portfolio of investment that will generate a comfortable income during your retirement, but also take care of other important matters like health.

Here are a few things to keep in mind when planning for your retirement:

Set Goals
One of the first things to do is making a list of some of the goals you have for your retirement. Are you planning on traveling? Do you want to move to another place because of the climate, or to be closer to family? Or perhaps you just want to stay in the same place and pursue your interests and hobbies. Irrespective of what your goals may be, you will require money for it from an income. It is projected that baby boomers will have retired lives that will last for 30 years, and perhaps even more. Hence, you will have to make a plan that generates income for that many years. It could include taking up another career after retiring, to augment your retirement income. You can use retirement calculators to find out the amount of money you will require for your retirement.

Make a Budget
In case you have not already done so, make a budget. If you have no idea about your monthly expenditure, start jotting down every dollar you spend for two to three months in a journal. You will be able to manage your expenses better once you find out exactly what you are spending on. Payments you make toward your retirement plan should be included in your budget.

Include other Members of the Family
Talk about your plans for retirement with your spouse and other members of your family. It is likely that both you and your spouse will retire around the same time, hence both of you should be in accord about the kind of retirement you want. If both of you are working, both will be making contributions to the funds you are putting aside for your retirement. Hence by deciding together, you will create a plan that both of you will find acceptable.

Don’t Bust your Plan
Regardless of how well you plan for the financial aspect of your retirement, it will come to naught, if you use it frivolously to buy yourself luxuries that you can do without. If you are going over your budget, it is probably because you are mistaking luxuries to be necessities. Does every member of the family really require a cell phone and a pager? Do you really require another phone line, or caller ID? Small things add up, making you go over budget. While you do not have to deprive yourself, it is always better to spend your money wisely.

Aim for Health and Fitness
Age related ailments affect your healthcare costs along with your insurance premiums for your retirement. Your premiums will be substantially higher, or you could even be denied coverage, if you have any pre-existing health condition. That will hit you hard when you will require funds for healthcare the most. Hence, plan for being healthy and fit into a ripe old age by eating well and exercising regularly.

© 2008 Anna D. Banks, GCDF

ANNA D. BANKS, GCDF, is a passionate advocate for baby boomers in exploring their priorities, planning and setting goals for the next stage of their lives. Assisting her clients to attract and build a professional and personal life consistent with their values is not just a goal of Anna’s, it’s her passion. Her diverse work experience in business, education and financial services enables her to help the diverse population of baby-boomers with their life, career, and personal finance coaching needs. Anna is currently Adjunct Faculty at Essex County College, where she teaches Career Development & Management. Please place a post on www.AnnaBanks.com or email your questions to me at Anna@AnnaBanks.com.
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Author's Note:

Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Please place a post on www.AnnaBanks.com or email your questions to me at Anna@AnnaBanks.com.

Don’t Underestimate Inflation - Plan Now!!

By Anna D. Banks, GCDF

Inflation is an important aspect of retirement planning and you simply cannot afford to overlook it. Failing to consider inflation during retirement planning can lead to a financial disaster. Most of us would love to believe that life is going to be great post-retirement with fewer worries, no major responsibilities, and all the time in the world to do what you like. Unfortunately, all this will be possible only if you have saved prudently for your golden years. Inflation is inevitable and only those who plan ahead can survive the increased costs of living due to inflation after their retirement. Let us assume that you retire at the age of sixty-five with an average annual income of $60,000. However, the purchasing power of this amount would go down by almost forty to fifty percent in about twenty years. Thus, in order to maintain the same standard of living that you could enjoy for $60,000, you need to have almost double this amount to sustain the increased costs of living. Such is the effect inflation can have on your daily lives if you fail to prepare yourself in advance. With inflation rising steadily with an average growth of three percent per year since 1626, you need to ensure that your income increases with the rate of three percent every year during retirement.

Well, the good news is that with the growing number of investment options readily available in the financial market, it’s not very difficult to plan for your future. You can count on the pension plans that will automatically shield you from increased cost of living however, you need to check with your employer to know the exact amount you will receive through these plans.

Saving for the future

Start saving as early as you can, as sooner you start, you are left with longer time to invest and multiply your money. Set small, realistic goals based on your current financial needs and the amount of money you can put aside to begin your financial retirement planning.

Have you considered a 401K plan?

It’s perhaps the easiest and the best way of saving your hard earned money for your life after retirement. Also popular are the IRA plans however, you need to understand what's at stake and how such plans will benefit you before you go for any of these investment options.

Allocation of assets

How you divide your financial portfolio between bonds and stocks can have a huge impact on your financial gains in the long run. Financial experts strongly emphasize of stock investments due to the tremendous potential such investments have to render high returns over long periods of time.

Investing in a property

With remarkable tax benefits and easy finance options, property investments have emerged as an important investment vehicle. As you build equity and settle your mortgage loan, you may hardly have any monthly expenses except escrow payments on property taxes.

You may also consider consulting with a good financial expert or retirement expert who can suggest suitable investment options after assessing your income, assets, and financial liabilities. In addition, they are also the first to know about any new investment option that has newly come in the market and how it can benefit you. Having a good understanding of the financial market, they can also predict which financial companies will sustain the high fluctuations in the market and can be regarded as a safe bet.

© 2008 Anna D. Banks, GCDF

ANNA D. BANKS, GCDF, is a passionate advocate for baby boomers in exploring their priorities, planning and setting goals for the next stage of their lives. Assisting her clients to attract and build a professional and personal life consistent with their values is not just a goal of Anna’s, it’s her passion. Her diverse work experience in business, education and financial services enables her to help the diverse population of baby-boomers with their life, career, and personal finance coaching needs. Anna is currently Adjunct Faculty at Essex County College, where she teaches Career Development & Management. Please place a post on www.AnnaBanks.com or email your questions to me at Anna@AnnaBanks.com.
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Author's Note:

Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Please place a post on www.AnnaBanks.com or email your questions to me at Anna@AnnaBanks.com.

Companies that Seek Older Employees

By Anna D. Banks, GCDF

Employers are said to have a preference for younger employees, which speaks of a bias against offering employment to older people. This is a common phenomenon that has prevailed since a long time but is now undergoing a subtle change to favor 'above 50' people seeking employment.

Employers have come to realize that employee maturity and experience are age related attributes gained through long exposure to varied work conditions/situations and cannot be cultivated over a short span of time. They are finding it increasingly desirable to employ seniors to benefit from the positive traits ingrained in them with the passing of time leading to better productivity and lesser workplace problems.

Among other important factors contributing to this growing disposition is the realization of work force shrinkage and apprehension of depleting wisdom levels on account of Baby Boomers hitting retirement age in a few years.

The avant-garde is already on track. Leading companies like Borders and Principal Financial, Adecco, Bank of America, Proctor and Gamble are among those who have realized the need for the creation of an older and more mature workforce that could serve as a 'knowledge pool' to counteract the impending brain drain. Combined efforts have led to the creation of companies like YourEncore and also websites like Seniors4Hire.org and RetirementJobs.com that act as hiring channels of retired personnel for specific projects. Over a dozen companies including Boeing, Eli Lilly and many others are using the services offered by YourEncore.

Very soon national companies like Petco, Radio Shack, Regal Entertainment, General Nutrition Centers, the Bank of America and a host of health care companies would be posting jobs on Seniors4Hire.org and RetirementJobs.com

Companies engaged in recruitment testify to a growing acceptance of mature workers by many employers, though at a much slower pace than desired. Many employers do not select workers of a higher age group, whereas others positively turn them away.

The sentinel for seniors, AARP (American Association of Retired Persons), features a yearly list of employers on its official web site, which it honors for the best practices related to management of 50+ workers. For example, Volkswagen of America Inc. is a 2003, 2004, 2005 and 2006 award winner, which, over the past twelve months recruited 13% of its workforce from 50+ applicants. One fourth of the company's total employees at present are over 50 years in age. It has various benefit programs for older employees.

Employment Policy Foundation (EPF) stats reveal a shortfall of 4 million workers within the next four years. It is predicted to go on increasing and the figure could go up to thirty-five million by 2030.

The major reason is the retirement of 30 million baby boomers out of 76 million born between 1946 and 1964. The senior most will turn sixty-five in 2011and will go for retirement. The trend will continue over the following years. Even discounting the fact that not all are in jobs, there still remains enough to fairly predict an acute shortage of workers to fill existing requirement which will lead to loss in production and consequently, loss in profits.

The nature of some of the jobs most likely to suffer a shortage of workers due to a large number of baby boomers among the present employee list includes:

• Elementary School teachers
• Secondary School teachers
• College and University teachers
• Educational and other Administrators
• Secretaries
• Accounting, Bookkeeping and auditing clerks
• Registered nurses
• Heavy Truck Drivers
• Janitors and cleaners etc.

© Anna D. Banks, GCDF

ANNA D. BANKS, GCDF, is a passionate advocate for baby boomers in exploring their priorities, planning and setting goals for the next stage of their lives. Assisting her clients to attract and build a professional and personal life consistent with their values is not just a goal of Anna’s, it’s her passion. Her diverse work experience in business, education and financial services enables her to help the diverse population of baby-boomers with their life, career, and personal finance coaching needs. Anna is currently Adjunct Faculty at Essex County College, where she teaches Career Development & Management. Please place a post on www.AnnaBanks.com or email your questions to me at Anna@AnnaBanks.com.
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Author's Note:

Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Please place a post on www.AnnaBanks.com or email your questions to me at Anna@AnnaBanks.com.

Resume, Cover Letter and Interview Strategies 50+

By Anna D. Banks, GCDF

Recent surveys have shown that there are more seniors who are now returning or sticking on to their jobs than ever before! Today, there are more 50+ workers working in the job market than at any time in the past. The terms ‘white-collar’ and ‘blue-collar’ workers have now been joined by a third adage, which is, ‘The Silver-collar worker’.

With over 77 million baby boomers in the United States and only 45 million Generation-X’ers, the difference in numbers clearly define a wide gap that needs to be filled by various strategies. So, the competition in the workplace between the two generations has increased twofold over the past ten years. So, if you happen to be a baby boomer on the look out for a job, then here are a couple of resume, cover letter and interview strategies to help you get started:

Resume Strategies for the 50+

• The thumb rule for all senior workers is to put at least 15 years worth of service on the resume.
• Don’t emphasize on dates. Never list your birth date and omit all college graduation dates that are more than 10 years old.
• Try toning down the job titles that you have listed on your resume so as to not seem overqualified. For instance, you can put down ‘senior manager’ instead of ‘Vice President’.
• Make sure you list all the professional courses and development activities that you have attended as this shows that you are willing to learn.
• List all the technological and computer skills that you possess.
• Highlight accomplishments, achievements and results that set you apart from the other candidates.

Cover Letter Strategies for Senior Workers

• Older workers tend to be proud of their work histories and are prone to putting self-applauding statements in their cover letters. With so much work experience, it is probably best you don’t put such cumulative experience statements in your cover letter. Instead of bragging, stick to using statements like ‘extensive experience’ or ‘significant experience’.
• An autobiography letter that rehashes your entire job history that is already on your resume isn’t a good idea. But, as an older worker it is more harmful as it draws attention to your age.
• Add in your cover letter that you are flexible, adaptable and are willing to learn.

Job Interview Strategies for Older Workers

When you go for a job interview, remember that you will probably be interviewed by someone who is younger than you, so don’t get embarrassed or unnerved by the situation.

• Start by stressing on how you are so willing to work and learn. Interviews claim that the biggest setback when it comes to hiring older workers is that most of the time their skills are outdated and they aren’t willing to learn.
• Suggest that you have an unsurpassable work ethic, which could be possible as compared to the younger workers.
• Convince you potential employers that your maturity will only be advantageous to them as your past experience makes you wiser in problem-solving situations.

© 2008 Anna D. Banks, GCDF

ANNA D. BANKS, GCDF, is a passionate advocate for baby boomers in exploring their priorities, planning and setting goals for the next stage of their lives. Assisting her clients to attract and build a professional and personal life consistent with their values is not just a goal of Anna’s, it’s her passion. Her diverse work experience in business, education and financial services enables her to help the diverse population of baby-boomers with their life, career, and personal finance coaching needs. Anna is currently Adjunct Faculty at Essex County College, where she teaches Career Development & Management. Please place a post on www.AnnaBanks.com or email your questions to me at Anna@AnnaBanks.com.
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Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Please place a post on www.AnnaBanks.com or email your questions to me at Anna@AnnaBanks.com.

Diet Tips For Fitness Before And After Retirement

By Anna D. Banks, GCDF

Youth is a transient phase and the process of aging is natural. However, most of us want to remain fit and youthful for as long as we live. None of us want to undergo the miseries and sufferings of age-related ailments. Therefore, one of the best solutions to counteract the effects of aging and to maintain our fitness right into our old age is to consume a nutritionally rich, healthy diet.

The various benefits of proper nutrition and a healthy diet before and after retirement are: a stronger immune system; resistance to disease and illness; sharper mental faculties; higher levels of energy; better recuperation; and being able to manage chronic ailments better.

One of the first things you need to do to eat well for long-term health is learning what your body requires right now. Here are a few tips that will get you started.

Make choices in the food you consume that are:

* Dense in nutrition – low in sodium and saturated fat, high in calcium and fiber, with the calories in moderate quantity;

* Full of flavor so that mealtimes will be something that you will look forward to;

* Appealing to look at and

* Easy to digest.

Eating nutritious meals is not as difficult as it may sound. Here are a few things you need to keep in mind:

Choose healthy carbohydrates. Eschew all types of refined products like white rice, white bread any product in which white flour has been used. Instead choose whole grain products such as bread made of whole wheat, brown rice, rolled oats, millet, barley etc.

Get your roughage. Include at least one serving of raw vegetables and fruits every day. The main advantage of raw foods is that their nutritional value is preserved, and it is the best way to get rid of constipation. Raw vegetables and fruits are full of minerals, vitamins, fiber, and enzymes that help digestion. Besides, you don’t have to spend too much time preparing them. If you find it difficult to bite or chew, cut carrots or apples into small pieces. Or why not make a healthy green salad with shredded and grated vegetables.

Steam your veggies. Another way to preserve the nutrients in vegetables is to cook them by steaming. Or else sauté them lightly. When vegetables are boiled the nutrients are leeched from them, although the water leftover can be used as stock for soup.

Eat lean protein. Poultry, eggs, fish, tofu, nuts, beans and peas are all protein; hence you can vary your choices of healthy and lean protein easily. Choose skinless chicken or turkey. By using cooking methods like grilling, baking, broiling, poaching or steaming, not only will the flavor be enhanced, but you will also be eating low-cholesterol, low-fat healthy meals. Reduce your consumption of red meats, since they have saturated fat, and avoid meats that are very salty such as ham or bacon.

Get adequate calcium. Not all dairy foods are equal. While the calcium content in yogurt, milk and cheese are retained, it is not in cream cheese, butter and cream. Choose dairy products that are either low in fat or are fat-free. If you cannot tolerate lactose, consider products that are either low-lactose or are free of lactose, like yogurt and hard cheese. You could also consider a calcium supplement to get your daily quota of calcium.

Choose “good” fats. Fats like sunflower oil, olive oil, avocado oil, and those derived from seeds and nuts are considered healthy.

Eat foods high in moisture. Apart from drinking adequate amounts of water every day, eat foods that are high in water content. Proper hydration helps to flush out your body’s toxins, alleviates constipation, keeps your joints supple, and aids in keeping the mind sharp and clear. Foods like grapes, melons, cucumbers, apples, onions, cabbage, and soup are high in water content.

The human body is an amazingly complex structure that can run for many years without requiring much maintenance. Most of us take our bodies for granted, abusing it with wrong foods, drugs, alcohol and unhealthy lifestyles. And then when it breaks down, we wonder why. Hence, in order to be healthy and fit right into the golden years of our lives, we need to take care of ourselves by eating nutritious and healthy food.

© 2008 Anna D. Banks, GCDF
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Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Email your questions to me at Anna@AnnaBanks.com.

Developing Strategies to Deal with Uncle Sam Post Retirement

By Anna D. Banks, GCDF

Retirement is entirely a different and new chapter of life; some accept it with a smile where as some handle it with lot of stress. A well-planned retirement could get back your smile, and also enable you to enjoy all that which you missed while slogging for your family. Retirement planning can be sometimes quite complicated and one should be very careful and patient while planning for it. Even if your retirement plans are clear set with all your visions and goals in place, it is your financial requirement that will determine the success of the plan. A large percentage of Americans recognize the retirement systems and its undergoing changes but they are not planning well enough to retire comfortably.

• A Retirement Confidence Survey finds that the government regularly changes pension plans and the workers have been experiencing a severe decline in the retirement benefits, but they are not working towards it constructively. Nearly 2 in every 5 workers have not done anything to tackle this issue.

• Some workers depend on the employer provided retirement benefits and they expect that their spouse will receive income from such retirement plans.

• Half of the workers save for retirement, excluding the value of the primary residence. Majority of workers put aside some money for retirement.

• Health care for future retirees will be a huge burden especially with post-retirement financial problems. Workers should understand the use of Medicare and accumulate enough money to even cover the insurance and health costs they would likely face after retirement.

Americans are confident about the way they would spend their post retirement years. A few simple and easy planning strategies could bring order in Uncle Sam’s post retirement years. So get started with some regular saving plan. Developing a savings plan is not very difficult.

Simple strategies can put Uncle Sam on a comfortable and financially secured track.

• Goals- Start saving for either your children’s education, a comfortable retirement life or for financial emergencies. Figure out what life would be after 10, 20 or 30 years and then think of the costs and the number of years needed to save enough for it.

• Investing- Figure out the right time to start investing and please don’t get distracted. The best way would be to put aside some amount on monthly saving basis, save right from reducing your monthly expense bill to your telephone bill. If you can then invest to reach your goals. Don’t ever abandon your pre-retirement planning.

• Savings to match goals- This would depend on your needs and how much time you have to reach your goals, your ability to tolerate risk etc. Start by learning the key characteristics of each goal and then narrow your selection to savings as well as investment products. Selecting the right product can help you accomplish your goal.

However, if you decide what you want in life and how you wish to achieve it, it will sort out half your problem. This will help you in your planning and in choosing products to aid you.

© 2008 Anna D. Banks, GCDF
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Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Post a comment or email your questions to me at Anna@AnnaBanks.com.

Choosing Destinations to Invest in a Second Home

By Anna D. Banks, GCDF

With healthier lifestyles, people live well into their 80s these days. Hence, retirement is no longer the end of the tether, but is usually a new beginning. This is why many people are choosing to buy a second home before they retire, either for future investment or to get a jumpstart into a life of leisure.

What most people look for in a destination where they plan on investing in a second home are scenery, weather, and active property markets. These are the factors that make a destination popular. However, the popularity of a destination can be a mixed bag if you are planning on using your second home for vacationing or to settle down in after retirement. A popular destination entails more traffic, crowds, and long lines. But if you want to buy a second home with an eye on its potential as an investment – which is what most buyers of second homes say they want to do – then obviously you will want to own a property in a destination where other people flock to. Ideally, it would be best to invest today in a place that will be a hot destination tomorrow.

Whether you want to buy a second home for vacationing in or as a future investment, here are a few factors to consider about the destination you choose:
Being close to an urban center. Your second-home destination should be at least within two or three hours drive from a city, or somewhere that is reasonably near a major airport.

A place where there are lots of avenues for recreation. Most people want to do other stuff besides shopping. Choose a place according to your interests. For example, if skiing is what you like, choose a ski resort, if it is sunny beaches you hanker for, look for places with beachfront homes. Also, check to see whether there are enough cultural activities available, such as theaters, art galleries, museums, and so on.

Salubrious weather. Whether you use your second home for vacations or to settle down in, obviously you will want to go out and revel in all the recreation.

Substantial commercial establishments. Although old-timers have the tendency of grousing about malls and hotels sprouting up in their sleepy little haven, in fact, these indicate that the community is prospering economically.

Renting it out. Some people need to rent out their second home, at least a few months in the year, so that it is affordable. If that is the case, the location will be determined, at least partially, on how attractive it is for people who rent for vacations. Properties that are most desirable are the ones located near beaches, both for their resale potential and as rentals.

Buy a second home near water. According to a survey made by the National Association of Realtors, recreation in water was one of the topmost desires of second-home buyers. Vacationers love swimming, fishing, water skiing, or boating, hence selecting a destination near water will not only suit you but also your prospective renters.

The celebrity factor. Choose a place which has the potential of attracting the movers and shakers of society - the film stars, the social celebrities. This, in turn, will attract enough people to it to jack up real estate prices.

Some other factors to take into consideration about choosing a destination to buy a second home in are, the crime rate, the safety factor, the medical facilities, and so on.

© 2008 Anna D. Banks, GCDF
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Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Email your questions to me at Anna@AnnaBanks.com.

Baby Boomers - Can You Be "Too Young To Retire?"

By Anna D. Banks, GCDF

Boomers young and old are starting to think about the years ahead. Three-quarters of the 76 million Baby Boomers in the United States plan to work full or part time after age 65. Many are still focused on their families, providing care for their children as well as their parents.

With Baby Boomers living longer, healthier lives, the conventional idea of retirement is out of date. This cohort aged 50 to 65 wants to know "What's next?"

The “Too Young to Retire” Course answers their burning question with resources, inspiration and good humor. Enlightening exercises and workbook pages as well as a comprehensive list of publications, home exchange organizations, and websites are included to assist participants in making meaningful choices.

The 2young2retire Course

Who am I? What am I doing here? Baby Boomers start asking these Big Questions, in one form or another, around age 50. What if your Big Answers could launch a whole new, more meaningful life in the years ahead?

The 2young2retire course is a process that helps you get clear about your choices and future possibilities. Working with a 2young2retire certified facilitator,” participants will discover what matters most to them and where their skills and experience could be put to good purpose.

The six areas of discovery are:

► Work that matters (paid or not)
► Being your own boss (you can do it!)
► Community activism (it's about time!)
► Money control (at last)
► Wellness plan (quit stalling now!)
► Intelligent travel (why to go where)

To find out more about how the 2Young2Retire Course can assist you, visit 2Young2Retire.com.


© Anna D. Banks, GCDF

ANNA D. BANKS, GCDF is an adjunct professor at Essex County College, a certified “2Young2Retire" facilitator, career development and marketing coach, speaker, and author. Anna helps baby boomers and other adults design a game plan for an extraordinary career or business. Since 1996, Anna has helped hundreds of job-seekers, managers, business owners, and sales professionals achieve career success. For more information send an email to Anna@AnnaBanks.com.
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Author's Note:
Do you have any questions about the 2Young2Retire Course or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Please post a question on this website or email your questions to me at Anna@AnnaBanks.com.

Aging Baby Boomers: All about Your Life

By Anna D. Banks, GCDF

First of all, baby boomers are people who were born within the post World War II era and before the Vietnam War. These people are called baby boomers because of the increased birth rate during this period. In the United States, there are about 76 million in total baby boomer population. Even George Bush, the current President of the United States is part of the baby boomer population.

Today, baby boomers are in the ages between 44 years old to 62 years old. This means that they are already aging. It is important for you to know that as a part of the baby boomer population, you should know where you stand on trends, and also your rights as a citizen of the United States of America.

Today, many baby boomers experiences age discrimination in the workplace. Some baby boomers that are qualified to do the job are not accepted by companies and some are laid off from their current job just because of their age. It is important for you to know that this is a violation of the ADEA or the Age Discrimination in Employment Act. It is also important for you to know that when you experience age discrimination in the workplace, you have somewhere to complain to, which is the EEOC or the Equal Employment Opportunity Commission.

You of all people should know about this because as a part of the baby boomer population, you came of age during the time where people were fighting for their civil rights in the United States. Chances are, you were part of those people who were fighting for civil rights, which include equal employment opportunities.

This generation is the generation where rock and roll started and where hippies were popping out to protest the Vietnam War and their rights as a citizen of a democratic country.

Health is also an issue with baby boomers. It was found that there was a significant increase of hospital and doctor visits by baby boomers. In fact, in 1992 there were only about 42 percent of people visiting the doctor at the age of 45. In 2002, the numbers increased to 53 percent. Most baby boomers suffer from different ailments, such as diabetes, stroke, heart attacks, arthritis, and high blood pressure.

This is because of the diet and lack of exercise that baby boomers experienced during their era. Because of this, many people are now more health conscious than the era of baby boomers. Some baby boomers even considered losing weight and getting active to prevent or at least minimize the effect of the mentioned diseases.

New drugs are now also available for baby boomers for preventive care. With the technology available today, aging baby boomers are now able to seek the medical attention they need. They can also benefit from the different government and private organization offers, such as free medical check ups and free hospitalization.

With all the benefits of today's medical technology, it is expected that baby boomers will likely live longer than previous generations of Americans. In fact, of the 3.4 million people born in 1946, 2.8 million are still alive and will get the benefit of living longer than their predecessors because of the advancement in medical technology.

More than 26 percent of the American population is made up of baby boomers. This means that in the coming years, Medicare will be much more in demand than ever before. You can expect that there will be a need for more hospitals and there will also be a need for more professional caregivers around the United States.

However, because of the latest medical technology, baby boomers will not only expect to live longer than previous Americans, but they will also enjoy better health condition. More and more baby boomers today are now health conscious and are staying as active as they can in order to prevent serious diseases such as diabetes and heart related diseases.

© 2008 Anna D. Banks, GCDF
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Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Email your questions to me at Anna@AnnaBanks.com.

Attaining Fiscal Fitness After Fifty

By Anna Banks, GCDF

Body Fiscal fitness is crucial for a person´s survival due to the ever-increasing cost of living. Attaining fiscal fitness is extremely important for people in their fifties as they prepare themselves financially to spend their lives after retirement in comfort. Failing to develop saving habits right from the time you got your first paycheck may drain your finances. It is very obvious why you need to start saving from the very first day. Longevity is on the rise, thanks to advanced medical science and your retirement life may be a lot more than your work life. In addition, the cost of living grows by the day and chances are that the cost of living will double over the years. You need to therefore sock away every dollar you can so that you don´t have to compromise heavily post retirement.

If you are one of those many people who failed to save wisely in the early period of their work life, don´t panic. You may have spent most of your money due to job loss, death in the family, divorce, disability or any other reason. Now is the time to take action and raise the funds to head towards a comfy retirement. While it is expected logically to put aside ten percent of your income every month when you begin to work, those in their fifties and failed to save must start saving at least twenty percent or more. Then there are "catch-up contributions´ that enable fifty plus employees to contribute a lot more than their younger counterparts to 401(k) and IRA annually. Check with your financial advisor to see how you can these to your advantage.

Another way to beat retirement woes is to postpone retirement. Extended retirements not only help you to save more but also take care of your immediate financial retirements. Besides, companies need senior employees who can play a pivotal role in shaping their company with their experience and knowledge. Most baby boomers choose to work as long they as they are physically fit. As a result, many people continue to work and share their expertise until they hit late seventies. For many, this is the time to try a new career, something that they always wanted to pursue. Part time work opportunities are readily available today and if you are an expert in your chosen field, your previous company may love to have you in their organization as a part time consultant. Many people have also managed to transform their hobbies into a booming business post retirement. It´s the joy of reinventing yourself that keeps you going when you are in your golden years.

If you are presently living in a city that´s known for its high cost of living, you may consider affordable alternatives to relocate after retirement. This will automatically boost your financial position and ensure fiscal fitness during old age. Relocation is a great choice for people who have built sufficient equity in their home but lack the savings to sustain retirement costs.

Diligent planning takes away the financial burden and allows you to enjoy a truly fulfilling life in your golden years.

© 2008 Anna D. Banks, GCDF
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Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Email your questions to me at Anna@AnnaBanks.com.

ADEA and Baby Boomers: Knowing Your Rights

By Anna D. Banks, GCDF

The first thing you have to know is what baby boomers are and what ADEA is all about. First of all, baby boomers are people who were born during the period of increased birth rate. In the United States, baby boomers were born during the time after the World War II conflict and before the Vietnam War. This means that there is more than one generation of baby boomers during this period of time.

Today, baby boomers are now in the age of 40's to 60's. ADEA means Age Discrimination in Employment Act. This means that it protects everyone from age discrimination especially people who are in their 40's to 60's. This means that if you are a part of the baby boomers population, you have to realize that you still have your rights in the workplace. This means that you shouldn't be a victim of unemployment just because of your age.

Many people in their 40's and 60's find it hard to find a job in the United States just because of their age. If this happens to you, you should file a complaint in the EEOC or the Equal Employment Opportunity Commission. In fact, more and more people are now filing complaints about age discrimination in the workplace. The total complaints from 1999 to 2006 have jumped up to 41 percent and are continually increasing.

This is because many employers or companies today are hiring people by not only basing on qualification but also basing on age. This means that even if you are qualified to do the job than other applicants, the chances for you to get hired by the company are slim just because you were born in the baby boomers era.

Baby boomers were born on the post World War II era and before the Vietnam War. This means that baby boomers came of age during the time where they fought for civil rights in the United States. This will mean that you, as a part of the baby boomers population, know well enough about your rights as a citizen of the United States.

Age discrimination is one of the growing problems of the country today. In the workplace, people who are in their 40s and 50s are being discriminated by their coworkers and also by their employers. Some baby boomers lost their jobs just because they were growing old and some are alienated by fellow workers.

The EEOC administers the ADEA. You should know that since 1967, age discrimination against workers who are in their 40s is prohibited and is illegal. You should know that it is your right to have equal employment opportunity.

Baby boomers today are considered to be a group of unhappy people. Besides, they have the right to be unhappy. This is because aside from the slow growth of the economy, high levels of layoffs are also existent. The main targets of layoffs are people who are considered to be part of the baby boomers era. This kind of policy is very unsettling and can make anyone born in the baby boomers era cringe.

You have to realize the fact that the slow moving economy and age bias has a connection. This means that when the opportunities go down, the age discrimination goes up. It is important to remember that no one should be discriminated about anything when it comes to employment. People in the United States have suffered a lot of discrimination. Some were discriminated because of their gender, some were discriminated because of their race, some were discriminated because of their creed and some were discriminated because of their age. All of these forms of discrimination are deemed unethical and illegal. Under the EEOC and the civil law in the United States, everyone should have an equal employment opportunity regardless of gender, race, creed, and age.

This is why it is important to know your rights as a citizen. If you do experience age discrimination, you should contact your nearest EEOC and tell them about the discrimination you experienced when you were applying for a job in a certain company or the age discrimination you experienced when you got laid off from the job.

Remember your rights and you will never have to be a victim of age discrimination. Always remember that ADEA and EEOC will be able to help you with your problems in discrimination in the workplace.

© 2008 Anna D. Banks, GCDF
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Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Email your questions to me at Anna@AnnaBanks.com.

Baby Boomers - Turn your Creative Practical Hobbies into a Business

by Anna D. Banks, GCDF


The retired life

The baby boomers are those who were born in the mid 1940s to the mid 1950s and are now retired and living the cozy life. But is it cozy? If you were to ask any one of these retired individual how they are enjoying being retired, you would get a response saying they enjoyed it initially but now they are bored, with lots of free time and nothing to do. Adjusting to a retired life can be difficult for some, especially those who are used to being active and working. How much golf and sailing can one person do any way?

One of the biggest disadvantages of being retired is the fact that there is a problem of money. You are retired and do not have a monthly income coming in, so playing golf, sailing or just going shopping may not be an option to those who have money constraints.

Pick a hobby

Every single person, man, woman, teenager or child has a hobby. Something they enjoy doing when they have free time. It could be reading, singing, swimming, dancing, painting, gardening, shopping, and decorating…. the list is endless. Hobbies help people relax and distress. When we get involved in our hobby we forget all our troubles and worries.

Each one of us is talented and enthusiastic about our hobby. Wouldn’t it be great if our hobby could help us make money? This is what most of the baby boomers are doing. They are converting their hobby into money making ventures. But do not confuse this with a quick money making scheme, because it is not that simple. It involves hard work and dedication.

Make your hobby work for you

Once you have decided that you are going to use your hobby to make money and get an extra income, then comes the time to make your hobby work for you. Before you start with earning money through your hobby, you have to evaluate whether or not your hobby is marketable. You need a hobby that is marketable or you need to think of a way to make your hobby into a marketable resource.

If you enjoy collecting books, open up a small library with a monthly subscription. If you are a woman who enjoys shopping and is aware of the latest styles and trends then become a personal shopper for those who need it. If gardening is your forte then write a book on gardening or create a website that generates money on gardening. If you like writing, then work with a magazine or a local newspaper.

If you love kids, open up a crèche at home or start teaching or helping out at the local kindergarten. If you enjoy cooking, start a small catering business or work with a restaurant. If you are poetic, then get in touch with a greeting card company and help create the copy for greeting cards. If photography is your passion, make that work for you. If you are interested in tarot cards, then become a tarot card reader. There are so many options and so many avenues open for you.

© 2008 Anna D. Banks, GCDF
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Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Email your questions to me at Anna@AnnaBanks.com.

Volunteering as a Rewarding Retirement Option

By Anna D. Banks, GCDF

About one third of the 45 million Americans that do volunteering work comprise of retirees. Besides providing a useful form of activity to occupy the free time that they now have after retiring, many retirees also discover that volunteering can be a very good outlet for the vast experience, knowledge and skill that they have acquired during a lifetime.

But making use of free time and using their skills and experience are not the only reasons why retirees are volunteering in increasing numbers, there are many other rewards that they derive from it. Retirees often find that it is also a way of learning new skills, such as developing people and communication skills. They also like the sense of belonging to a group of well meaning and giving people who go out of their way to be of service to others. In their volunteer work, they soon form new bonds with like minded individuals who share the same vision of bettering the community.

Some of the retirees also like the structured way of contributing meaningfully to the society, which they have been cut off from by retiring, such as being disciplined about time and being a part of an organized structure. However, others opt for volunteering as a means of providing a complete break from their previous working life.

For many older people, however, one of the most rewarding aspects of volunteering is the new sense of purpose they derive from ameliorating the lot of people who often have only them to depend upon. And for people who are new to it, it can also be a way of developing new understanding of people in distress, such as those afflicted with disabilities, bed ridden invalids, sick children, people with little financial means, and so on.

Volunteering, therefore, also helps older people feel that they are making a difference, that by the efforts they put into it, in whatever small way, they have the ability to make things better. This can be a source of great fulfillment.

Besides, when other people are dependent on you, it can often change your whole perspective about yourself and life. For many older people, retirement can often be a stressful time. The loss of a job entails a sense of worthlessness and redundancy. It can almost feel like life and the world has no more use for you. For many, post-retirement depression can set in. Volunteering can be a means focusing on other people and regaining the sense of contributing meaningfully to the community and the world.

Although most people feel that retirement will be the time when they will have all the free time in the world to pursue all the fun things in life that they missed because of the demands made on them by their job, they often discover that in reality boredom soon sets in with all that time on their hands. Volunteering provides a means of keeping busy in a meaningful manner.

People derive great joy from the ability of being of help to others who need it. By volunteering their time and efforts, they give a part of themselves. In return, they get the fulfillment of receiving the blessings and love from people who are usually complete strangers. Although by volunteering they do not expect to gain anything personally, but ultimately many retirees discover that they gain much more than they have given.

The experience often reveals that there is something special about being of service to less fortunate people. The thankful faces, the thought of the difference you make in their lives, to know that you were a part of offering succor to someone who probably had nowhere else to go, can be the most rewarding aspect of volunteering.

© 2008 Anna D. Banks, GCDF
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Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Email your questions to me at Anna@AnnaBanks.com.

Colleges Use Grants to Reach Baby Boomers

By Anna D. Banks, GCDF

A new "Plus 50 Initiative" has been announced by the American Association of Community Colleges. Ten community colleges will launch novel demonstration programs for students over the age of 50, with the help of seed grants from AACC and The Atlantic Philanthropies.

From the Press Release:

Organizers say the project is designed to help with one of the largest generational shifts affecting our nation, as baby boomers approach retirement and consider how to keep their lives active, healthy and engaged in careers and projects that matter to them.

"The baby boomer generation wants to stay active in retirement and holds a wealth of knowledge and experience that society cannot afford to see leave the talent pool," said George R. Boggs, AACC President and CEO. "By retooling educational programs and adjusting for the needs of plus 50 students, community colleges can empower baby boomers to continue give back by leading the vibrant and fulfilling lives they desire."


The official announcement, including more details, is available here.