Boomer retirement trendsAn article in Reuters Money by Mark Miller earlier this month provided some interesting insight about how boomers, who have “broken the mold at every stage of their lives,” are doing it again for their retirement.

Here are the trends that Miller uncovered, showing us that retirement is about attitude, science, and savings. (Note to Pension Parameters readers: saving for retirement is one trend that never goes out of style!)

Here are the some trends that seem to be changing retirement styles for Baby Boomers, according to Reuters:


  1. THEY ARE LEAVING THE U.S. “The number of retired workers, spouses and survivors getting Social Security benefits in a foreign land is rising almost twice as fast as the number of Social Security beneficiaries generally, according to Social Security Administration data.”(Why? It’s less expensive!)
  2. THEY ARE STARTING COMPANIES. Almost a quarter – 21 percent – of new U.S. businesses started in 2011 were launched by entrepreneurs age 55 to 64, according to the Kauffman Foundation, up from 14 percent in 2007. Entrepreneurs age 45 to 54 accounted for an additional 28 percent of the 2011 startups. Taken together, that’s 49 percent of all startup activity – far larger than the 20- to 34-year-old bracket, which accounted for 29 percent of new ventures.”
  3. THEY ARE TECH SAVVY. “”For example, 23 percent of older boomers and 27 percent of their younger siblings use tablet devices, compared with 30 percent of Gen Xers (born 1965 to the early 1980s), according to the Pew Internet Project.”Not bad for Grannies!
  4. THEY ARE BORROWING MORE “Older Americans are taking more debt into retirement than previous generations. Mortgage debt is the biggest factor: Forty percent of homeowners over age 65 had mortgage debt in 2010, compared with just 18 percent as recently as 1992, reports the Joint Center for Housing Studies at Harvard University (JCHS).”Why? the refinancing boom before the housing crash.

“Higher debt levels will have a variety of effects. Some retirees will be stuck in homes with underwater mortgages or monthly mortgage payments that sap their spending power; others will use low-interest mortgage debt to keep more cash on hand or to keep other money invested longer.”

  1. THEY ARE OUTLIVING THEIR EXPECTATIONS. “For a couple with above-average health, there’s a 60 percent chance one of them will

    live to age 90, the Social Security Administration has reported.

  2. THEY ARE PROVIDING FINANCIAL SUPPORT. “Some 58 percent of boomers are providing financial assistance to aging parents, such as helping them purchase groceries or pay medical and utility bills, according to an Ameriprise Financial survey of just over 1,000 Americans conducted in late 2011.When it comes to

    their kids, boomers are even more ready to help out.”