Expensive Boomers Life The Demographic Shift
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Expensive Boomers Life
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Gone are the days when retirees were satisfied with just "getting by" in retirement. Now, boomers see retirement as an opportunity to pursue hobbies and live lives and dreams that they had put on hold because of work, or simply because they were cautious about depleting their nest eggs. For many, retirement is the time to buy trendy and expensive luxury items, take holiday trips to favorite destinations and generally enjoy the fruits of their labors. Boomers also want a more active life in retirement than previous generations and so will probably travel more than ever before if they can.

Anyone for Tennis?

More travel, golf, and tennis will mark the retirement activities of the boomer generation. More activity means more spending. And for many, buying that luxury car is an indulgence that can no longer be put on hold. This change in lifestyle will undoubtedly cost more than the low-key pre-retirement working boomer life. The high cost of health care and a longer life expectancy also means increasing costs. Medicare premiums continue to increase each year as do the costs of private insurance. Employers are limiting their offerings of health insurance benefits for retirees. In the past, companies would provide health insurance for retirees and their families but now most larger employers are minimizing contributions to retiree healthcare insurance, or eliminating the benefit altogether.

"Expensive Boomers Life"
by Ron Meacock © 2019

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