Tuesday, December 25, 2007

US braces for baby boom retirement wave

Yes, as 1 January 2008 is approaching fast, the big news is baby boomers are getting ready for filling up the applications for retirement. There are many opinions of how it will impact the economy.

US braces for baby boom retirement wave

by Rob Lever
Mon Dec 24, 10:40 PM ET



The first of the vast US baby boom generation goes into retirement in January, setting off a demographic tidal wave with wide-ranging economic, political and social implications.

Kathleen Casey-Kirschling, born on January 1, 1946, is acknowledged as the nation's first baby boomer and the first to apply for social security benefits, for which she will be eligible in 2008.

The New Jersey grandmother is the first of an estimated 80 million Americans born between 1946 and 1964, a generation that led a social revolution in the 1960s and changed the fabric of most facets of society.

The cost for government-funded social security and medical care for the boomers leaves a funding gap of between 40 and 76 trillion dollars for next 75 years, according to various estimates.

"America is facing a demographic juggernaut," says Brent Green, a marketing consultant and author, in his "Boomers" blog.

"An unprecedented number will soon be entering the retirement stage of life. One-third of the population will be over 50 by 2010. One in five will be over 65 by 2010."

Leonard Steinhorn, an American University professor and author of "The Greater Generation: In Defense of the Baby Boom Legacy," says the generation often wrongly maligned as latte-sipping Yuppies has transformed most of American society.

He wrote that boomers have led or sustained most of "the great citizen movements that have advanced American values and freedoms -- the environmental movement, the consumer movement, the women's movement, the civil rights movement, the diversity movement, the human rights movement, the openness in government movement."

He told AFP he expects this transformation to continue as boomers age. "It's not going to be a generation that's going to go off to the golf courses and do nothing."

He said boomers will push politics to a more progressive bent even though that has not yet happened because the more conservative over-60 generation still carries much weight in the electorate.

"Once younger voters begin to replace them, the socially conservative vote will dwindle," he said.

The generation is a ripe target for marketing of everything from travel to real estate to computer games for keeping minds fit.

"In the whole way we think about aging and the way companies develop products, we have traditionally been a country of the young," said David Baxter, senior vice president at Age Wave, a California-based research and consulting company focused on the over-50 population.

"If you look at the hottest products, companies think the youth market is the most important."

Baxter said marketers are still using "the myth that older consumers are stuck in their brands and not very interesting consumers. But it's the mature consumer who has all the money."

Americans aged 50 and over have a collective one trillion dollars in disposable income and control 67 percent of the US wealth, according to the over-50 social networking website Eons.

Members of the baby boom generation are big users of technology and the Internet. A Pew Internet Life Project report showed two-thirds of those between 50 and 58 had Internet access as of 2004, similar to the number of 28- to 39-year-olds.

Many are gravitating to social networking sites, especially those geared to their generation with names like TeeBeeDee and BoomerCafe.

About half of Americans will buy new homes after retirement, and many will continue to work in some capacity or become involved in social activism.

Michael Falcon, head of the retirement group at Merrill Lynch, says the nation must prepare for a "new model" for retirement.

"Multiple generations report cycling in and out of work and pursuing a new career in later life as the retirement ideal," he said in a 2006 report. "Companies need to be aware of this new concept of retirement."

A Merrill Lynch survey found 71 percent of adults surveyed plan to work in some capacity after their formal "retirement."

Carol Orsborn, a public relations executive who writes a "Boomer Blog," said the generation appears to be pursuing its dreams rather than dropping out to a quiet retirement.

"If we were hippies in the 1960s and 1970s and yuppies in the 1980s and 1990s, what are we now?" she wrote.

"At an age where expectations that our generation pull back, instead of 're-tiring' we are 're-upping' for another tour of duty in life. We are changing careers, finally getting around to taking risks with our dreams, advancing into new psychological and spiritual terrain, not only new to us as individuals, but for society as a whole. We are, in fact, Re-uppies."

On the economic side, some fear the "silver tsunami" will drain the country of its wealth, but Baxter says the United States has some advantages.

"It's true that everything in our society is built on the idea of continued growth, it's kind of a giant Ponzi scheme with every generation prior to this one having given birth to a larger generation," he said.

The problems are even more acute in some European countries and Japan which face a similar demographic time bomb. But Baxter said "the US is cushioned to some extent by a more liberal immigration policy" and because "there is more flexibility in our workforce. It's illegal to have mandatory reitirement and that's not the case in most countries."



Copyright © 2007 Agence France Presse. All rights reserved. The information contained in the AFP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of Agence France Presse.


by Rob Lever
Mon Dec 24, 10:40 PM ET



The first of the vast US baby boom generation goes into retirement in January, setting off a demographic tidal wave with wide-ranging economic, political and social implications.

Kathleen Casey-Kirschling, born on January 1, 1946, is acknowledged as the nation's first baby boomer and the first to apply for social security benefits, for which she will be eligible in 2008.

The New Jersey grandmother is the first of an estimated 80 million Americans born between 1946 and 1964, a generation that led a social revolution in the 1960s and changed the fabric of most facets of society.

The cost for government-funded social security and medical care for the boomers leaves a funding gap of between 40 and 76 trillion dollars for next 75 years, according to various estimates.

"America is facing a demographic juggernaut," says Brent Green, a marketing consultant and author, in his "Boomers" blog.

"An unprecedented number will soon be entering the retirement stage of life. One-third of the population will be over 50 by 2010. One in five will be over 65 by 2010."

Leonard Steinhorn, an American University professor and author of "The Greater Generation: In Defense of the Baby Boom Legacy," says the generation often wrongly maligned as latte-sipping Yuppies has transformed most of American society.

He wrote that boomers have led or sustained most of "the great citizen movements that have advanced American values and freedoms -- the environmental movement, the consumer movement, the women's movement, the civil rights movement, the diversity movement, the human rights movement, the openness in government movement."

He told AFP he expects this transformation to continue as boomers age. "It's not going to be a generation that's going to go off to the golf courses and do nothing."

He said boomers will push politics to a more progressive bent even though that has not yet happened because the more conservative over-60 generation still carries much weight in the electorate.

"Once younger voters begin to replace them, the socially conservative vote will dwindle," he said.

The generation is a ripe target for marketing of everything from travel to real estate to computer games for keeping minds fit.

"In the whole way we think about aging and the way companies develop products, we have traditionally been a country of the young," said David Baxter, senior vice president at Age Wave, a California-based research and consulting company focused on the over-50 population.

"If you look at the hottest products, companies think the youth market is the most important."

Baxter said marketers are still using "the myth that older consumers are stuck in their brands and not very interesting consumers. But it's the mature consumer who has all the money."

Americans aged 50 and over have a collective one trillion dollars in disposable income and control 67 percent of the US wealth, according to the over-50 social networking website Eons.

Members of the baby boom generation are big users of technology and the Internet. A Pew Internet Life Project report showed two-thirds of those between 50 and 58 had Internet access as of 2004, similar to the number of 28- to 39-year-olds.

Many are gravitating to social networking sites, especially those geared to their generation with names like TeeBeeDee and BoomerCafe.

About half of Americans will buy new homes after retirement, and many will continue to work in some capacity or become involved in social activism.

Michael Falcon, head of the retirement group at Merrill Lynch, says the nation must prepare for a "new model" for retirement.

"Multiple generations report cycling in and out of work and pursuing a new career in later life as the retirement ideal," he said in a 2006 report. "Companies need to be aware of this new concept of retirement."

A Merrill Lynch survey found 71 percent of adults surveyed plan to work in some capacity after their formal "retirement."

Carol Orsborn, a public relations executive who writes a "Boomer Blog," said the generation appears to be pursuing its dreams rather than dropping out to a quiet retirement.

"If we were hippies in the 1960s and 1970s and yuppies in the 1980s and 1990s, what are we now?" she wrote.

"At an age where expectations that our generation pull back, instead of 're-tiring' we are 're-upping' for another tour of duty in life. We are changing careers, finally getting around to taking risks with our dreams, advancing into new psychological and spiritual terrain, not only new to us as individuals, but for society as a whole. We are, in fact, Re-uppies."

On the economic side, some fear the "silver tsunami" will drain the country of its wealth, but Baxter says the United States has some advantages.

"It's true that everything in our society is built on the idea of continued growth, it's kind of a giant Ponzi scheme with every generation prior to this one having given birth to a larger generation," he said.

The problems are even more acute in some European countries and Japan which face a similar demographic time bomb. But Baxter said "the US is cushioned to some extent by a more liberal immigration policy" and because "there is more flexibility in our workforce. It's illegal to have mandatory reitirement and that's not the case in most countries."



Copyright © 2007 Agence France Presse. All rights reserved. The information contained in the AFP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of Agence France Presse.


Copyright © 2007 Yahoo! Inc. All rights reserved.
http://news.yahoo.com/s/afp/20071225/bs_afp/lifestyleusdemographicselderly&printer=1;_ylt=Apg.wOA2d39XaPWLeFTaL8moOrgF

Friday, December 21, 2007

13 Worst Places To Retire..

Dont quote me - this is the article from AOL Money site. It is a part of the 'RETIRE IN STYLE' series.

Worst Places to Retire
13 Places Seniors May Not Find So Warm and Welcoming
By CAROL VINZANT

As boomers start to retire, more cities will be rolling out the red carpet trying to attract this new demographic. City planners hope these retirees will come with bundles of money to spend, but no kids to educate. Get ready for the sales pitch and keep in mind that such promises as year-round sun, a serene natural setting, or a thriving senior community can all have their downsides.

Clearwater City, Florida: Too Many Fellow Seniors

Austin, Texas: Hard Time Getting a Doctor who Takes Medicare

Anchorage, Alaska: Fewest Fellow Seniors

Bridgeport, Connecticut: Highest Taxes

Washington, DC: Most Poor Seniors

Rhode Island: Least Older Men

Provo, Utah: Most Youthful Population

Queens, New York: Violence and the Boulevard of Death

Connecticut: Deficient Nursing Homes

Your Kids’ House

Green Valley, Arizona: Trouble in a Sheltered Community

Corpus Christi, Texas: Hottest Feeling City

Riverside, California: Declining Property Values

http://money.aol.com/special/canvas/_a/worst-places-to-retire/20071203122009990001

Thursday, November 29, 2007

Flight attendant retires after 50 years

Flight attendant retires after 50 years

By MARK NIESSE, Associated

Press Writer


HONOLULU - When Patti Smart was hired as an Aloha Airlines stewardess
50 years ago, it was a different job for a different time.

She rubbed elbows with Frank Sinatra, performed in-flight fashion
shows and danced in smoke-filled aisles aboard cramped DC-3s seating
two dozen passengers.

Smart, nicknamed the "Queen of Aloha," retires Friday after more than
a half-century on the job she started when she was 18 years old.

A lot has changed since the old days, when people dressed up in hats
and bow ties to fly on propeller-powered planes across the Pacific.

"You're supposed to have the same niceness, the same warmth, the same
caring. But it's faster now," Smart said. "In the older days, the
flights were longer so you had more time to be intimate with
passengers and you got to be very good friends with them."

Smart has the third most years in the sky among the 55,000 flight
attendants represented by the Association of Flight Attendants. The
most senior flight attendant in the nation started her job in 1950.

Smart was paid $170 per month for 85 hours of work after she was
hired on Jan. 28, 1957.

Today, as the airline's most senior flight attendant (they're not
called stewardesses anymore), she makes $43.50 per hour catering to
first-class passengers on flights between Orange County, Calif., and
Honolulu.

Hearing Smart reminisce over times gone by makes her job sound more
like fun than work. She laughs when remembering affable celebrities,
prankster pilots and a box-like cart that sheltered passengers from
the rain as they disembarked.

The job has grown on her so much that she's reluctant to leave.

"There will be sparks flying from my feet as they drag me down the
runway," she said.

One time, she got into a tight spot when her skirt flew out the
window.

As she was serving pineapple juice to passengers, she spilled it all
over her uniform. She changed into a pair of pants and washed out her
skirt in the lavatory. When she tried to air-dry the skirt by letting
it flap in the breeze from the cockpit window, one of the pilots
snatched it and let it fly out the window.

"I wanted to kill those two," she said. "I wanted to get their two
heads together and whack them. They were laughing and laughing."

Friday, November 16, 2007

Top 25 Cities and Regions for Retirement Jobs

Hot off the press: By Robert Powell, MarketWatch
Last Update: 9:25 PM ET Nov 14, 2007

BOSTON (MarketWatch) -- Most people don't get to have their cake and eat it too. Case in point: we know the best employers for workers over age 50. And we also know the best places to which Americans can retire. But where in America are the best 25 places for retirement jobs?

Here's is the list of the top cities and regions for retirement jobs:

Northeast
Harrisburg/Lancaster, Pa.
Nashua/Manchester, N.H.

Mid- Atlantic/Southeast
Bethesda, Md.
Leesburg/Winchester, Va.
Fayetteville, Ark.
Raleigh/Durham, N.C.
Washington D.C. region
Tampa/Saint Petersburg, Fla.
Sarasota, Fla.

Central/Midwest
Louisville, Ky.
Columbus, Ohio
Knoxville, Tenn.
Indianapolis, Ind.

Southwest/Mountain
San Antonio, Texas
Phoenix, Ariz.
Las Vegas, Nev.
Greeley, Colo.

Upper Midwest/Great Plains
Madison, Wis.
Ann Arbor, Mich.
Minneapolis/St. Paul
Kansas City, Mo.

Northwest/West Coast
Seattle/Bellevue, Wash.
Medford, Ore.
Spokane, Wash.
Sacramento, Calif.

==================================

The problems for some semi-retirees and retirees; they can not move to those places since they need to move to be near their children or families.
JM

==================================

http://www.marketwatch.com/news/story/top-25-cities-those-seeking/story.aspx?guid=%7BC52C26BB%2D26A3%2D4FE1%2D8479%2DA881AB449B04%7D

Thursday, November 8, 2007

Problmes In Life.


The serious problems in life, however, are never fully solved....

The meaning and purpose of a problem seem to lie not

in its solution, but in our working at it incessantly.

(C.G. Jung, Stages of Life, CW 8, § 771

The Emergence of Positive Psychology

The Emergence of Positive Psychology: The Building of a Field of Dreams
Shane J. Lopez, PhD
University of Kansas

"Build it and they will come. Build it and they will come."
A similar eerie directive echoed in Ray Consella's mind in the popular movie,
"Field of Dreams." An epiphany occurred when Consella realized that the building of a baseball field in rural Iowa would open a metaphysical door to his past and his future.

Dr. Martin Seligman experienced a similar epiphany that occurred in his garden and was brought about by the profound words of a child, his daughter Nikki. In a 1999 speech, Dr. Seligman recounted the experience that changed his view of parenting and psychology and he concluded the following:

Raising Nikki would be about taking the strength that she had just shown--I call it seeing into the soul--naming it, nurturing it, reinforcing it, helping her to lead her life around it and let it buffer against the weaknesses and the vicissitudes. The most important thing, the most general thing I learned, was that psychology was half-baked, literally half-baked. We had baked the part about mental illness; we had baked the part about repair of damage...The other side's unbaked, the side of strength, the side of what we're good at.

Positive psychology is the other side. It is the scientific pursuit of optimal human functioning and the building of a field focusing on human strength and virtue. It builds on the bench science and research methods that shed light on the "dark side" of human functioning, and it opens the door to understanding prevention and health promotion. Dr. Seligman (1998) noted:


http://www.apa.org/apags/profdev/pospsyc.html

Transform Your Life

Transform your Life - by Pastor Will Bowen

Your thoughts create your world and your words indicate your thoughts. When you eliminate complaining from your life will you enjoy happier relationships, better health and greater prosperity. This simple program helps you set a trap for your own negativity and redirect your mind towards a more positive and rewarding life.

http://acomplaintfreeworld.org/

How it Works?

Scientists believe it takes 21 days to form a new habit and complaining is habitual for most of us.

Read More:
http://acomplaintfreeworld.org/howitworks.html

Thursday, October 25, 2007

Did You Hear?

First US Baby Boomer Files For Social Security Benefits
Tuesday, October 16, 2007

WASHINGTON — Kathleen Casey-Kirschling filed for early retirement Monday, becoming the first baby boomer to start collecting Social Security.

Born one second after midnight in January 1946, the retired teacher leads the way for as many as 80 million individuals who will qualify for the retirement payout. Casey-Kirschling was born one second after midnight on Jan. 1, 1946, and will receive her first Social Security check in February 2008 as the first wave of baby boomers turns 62 next year and becomes eligible for early retirement benefits.

Social Security Commissioner Michael Astrue said the agency is bracing for some 80 million Americans to apply for retirement benefits over the next two decades. "We are already feeling enormous pressure from baby boomers being in their peak disability years and now we're preparing for so many of them to file for retirement," Astrue said at a press conference with Casey-Kirschling.

The system also includes benefits for disabled workers. Part of that preparation is to encourage boomers to apply for benefits online at www.socialsecurity.gov/onlineservices. Astrue said the roughly 40 minutes it takes to apply from home is more convenient and less time-consuming than traveling to the local Social Security office.

Because Casey-Kirschling is retiring early, her monthly benefit is reduced to 75 percent of what she would have received had she waited for full retirement at age 66. The age of full retirement for Social Security is gradually rising from 65 for those born before 1938 to 67 for people born after 1959 under a 1983 law that was enacted to shore up the pension program's finances.

By Donna Smith & FoxNews.com

The first wave of 3.2 million baby boomers turns 62 next year — 365 an hour.

About 49% of the men and 53% of the women are projected to choose early retirement and begin drawing monthly Social Security checks representing 75% of the benefit they'd be entitled to receive if they waited four more years to retire.

In 2011, they'll turn 65 and be eligible for Medicare. In 2012, those who didn't take early retirement benefits will turn 66 and qualify for their full share. "Once it starts to happen, and it's going to start in January, you're going to see millions of baby boomers starting to take it," says Casey-Kirschling, a retired seventh-grade teacher and nutrition consultant.

USATODAY.com

Friday, August 17, 2007

Buy Retirement Home Now, Move in Later

Daily Real Estate News - August 13, 2007

Buy Retirement Home Now, Move in Later
With prices in many areas at a low ebb, it might make good financial sense for Baby Boomers to buy their retirement homes now, even if they're still years away from actually moving. They can find renters who will pay the bills until they're ready to live there.

Here’s some advice for people who are considering this strategy:
  • Shop carefully. It's best to buy a home that can be rented for a rate that, after tax considerations, will cover the mortgage, real estate taxes, and insurance.
  • Study up on housing trends. Ask the local or state planning department for demographic and economic data. The information can reveal facts that will influence whether or not to buy. For example, big companies going out of business or military base closings can be bad news.
  • Don’t forget maintenance. Consider who’ll take care of the house in the owner’s absence. Property managers charge 6 percent to 15 percent of the monthly rent. Family members may be willing to do the job for free, but they could be ill equipped to do the job if the don't have any experience.
  • Consider financing. Boomers with sufficient equity in their current homes can tap it to either buy their retirement home outright or secure a much lower mortgage rate compared with a loan at the rate often offered to buyers of investment property.

Source: The Washington Post, Belly L. Kass, Esq. (08/11/07)

Sunday, July 29, 2007

Luxury Residential Oxean Liner.

This is an article from Realtown.com


Prudential Douglas Elliman Is Sales Agent for Residential Ocean Liner
200 Luxury Ocean Residences Offered in $1 Billion Deal
July 27th, 2007 - 12:03 am

NEW YORK -- Orphalese Holdings, the parent company of The Orphalese, the world’s largest luxury residential ocean liner of her class, has announced an exclusive partnership with Prudential Douglas Elliman, the largest residential real estate firm in New York City, to be the luxury cruise ship’s worldwide sales agent.

Donald V. Allen, CEO, Orphalese Cruise Lines, said, “Prudential Douglas Elliman is the ideal partner to actualize our dream of offering an ocean-based lifestyle on-board The Orphalese. They identify with the representative Orphalese market and clearly have the proven experience and track record of selling luxurious residences to premiere clientele.”

“Prudential Douglas Elliman is proud to announce its exclusive sales partnership with The Orphalese, marking one of the firm's largest real estate deals, as well as the first of its kind for us,” said Howard M. Lorber, chairman, Prudential Douglas Elliman. “We know that our widespread network of agents combined with The Orphalese’s distinctive itinerary and extraordinary residences and amenities offers an unparalleled opportunity for our upscale clientele. Also due to intelligent design engineering and resultant operating efficiencies onboard The Orphalese, we will be able to offer the strongest cost of ownership profile in the ocean residence market today.”

Sales and marketing efforts will begin in the Hamptons, the affluent summer enclave on the East End of Long Island, where the residential ocean liner will have its debut at the season’s most talked about events and galas, including the Southampton Hospital Gala, Hampton Classic, and Art for Life benefit.

The stunning redesigned East Coast Orphalese Sales Team office is located at Prudential Douglas Elliman’s offices at 575 Madison Avenue in New York City.

About The Orphalese
Capturing the imagination of the public as a unique ocean-based lifestyle experience, The Orphalese will be the most exciting place to be. The Orphalese is the first residential ocean liner to offer 200 permanent ocean residences, ranging in size from 1,000 square feet to 4,000 square feet, as well as 265 suites for luxury cruise passengers. Leveraging the combined resources of the world's best business, luxury real estate and design talent, the residential ocean liner will be equipped with the finest amenities available anywhere in the world. Spending an average of 200 days in various ports around the world, the residential ocean liner will give owners and guests the opportunity to visit the globe's most exclusive events and explore the cultural and historic offerings of each country

http://www.realtown.com/articles/prudential-douglas-elliman-is-sales-agent-for-residential-ocean-liner

Orphalese Cruise Line Official Web Site.
http://www.theorphalese.com/

Friday, July 27, 2007

The Best Places to Live if You're 50+

The Best Places to Live if You're 50+
Looking for a great place to retire?

AARP's membership magazine has revealed it's annual ranking of the top five places to live for people older than 50. The selections are based on criteria that make a community livable, such as mass-transit systems so residents can drive less, expanded sidewalks to encourage walking, better health care, and a wide range of mixed use housing, according to the magazine.This year's top picks are:

Atlanta: "A sophisticated metropolis with southern charm, Atlanta offers abundant volunteer and cultural opportunities. Retirees also appreciate the wide range of housing options."

Beacon Hill in Boston: "This historically genteel part of Boston is full of culture and great restaurants. The Beacon Hill Village provides concierge style access to a network of support services for aging residents including transportation, health care and entertainment."

Chandler, Ariz.: "Gracious desert living combined with an activist twist that encourages residents to get involved with the spirit of the town. A city climate and plenty of parks and open space provide ample recreation opportunities."

Milwaukee: "An example of urban renewal at its best, Milwaukee features picturesque river walks and affordable water-front living.

Portland, Ore.: "European charm meets environmental nirvana in this environmentally progressive city. 50-plus residents love the miles of safe bike lanes and the revitalized Pearl District."

AARP also named four cities to watch: Austin, Texas; Burlington, Vt.; Mankato, Minn., and Traverse City, Mich.

Source: AARP The Magazine

Monday, June 18, 2007

The rich are bullish on real estate

CNNMoney.com
The rich are bullish on real estate
Monday June 18, 12:58 pm ET
By Les Christie, CNNMoney.com staff writer


The very rich are different from you and me: they don't seem to be too worried about the current housing slump. At least that's what a new study released Monday found.
More than half of affluent homeowners expect their property value to appreciate at least somewhat during the next year, according to the Coldwell Banker Previews International Luxury Survey. A tenth of them expect significant gains.


The study polled 301 homeowners with million-dollar homes (two million dollars in California) and more than a million dollars in investable assets.

"These are very successful people and they still think that real estate is a good investment," said Jim Gillespie, Coldwell Banker's chief executive.

The results run counter to most industry watchers' predictions for a continued slump in the overall market. Some forecasts see home prices dropping about 8 percent for the two-year period through the end of 2008.

Part of wealthy home owners' optimism, according to Gillespie, is that the luxury market has held up nationwide during the recent slump.

It may also confirm a basic contrarian investing impulse found among many of the wealthy: the best time to buy is when others are selling. 40 percent polled say they may buy a second home this year.

Looking ahead, 36 percent of the affluent expect the price of their homes to increase significantly over the next five years and 58 percent expect at least some gain, according to the survey.

Women are even more optimistic, with 61 percent expecting some price increase during the next 12 months compared with 50 percent for men.

The wealthy also appear to want more space; 61 percent of those moving this year plan to buy a bigger house.

Gillespie pointed out, with some amazement, that almost half want to make the move because of the way their space is designed. "They're living in multi-million-dollar homes and they don't like their floor plans?" he asked.

Their new spaces are likely to include many features that were once very rare in American homes.

"What constitutes a luxury amenity is evolving," said Gillespie. "High-end kitchens and entertainment rooms now are givens."

The survey found that 72 percent of the rich already have designer kitchens, 63 percent maintain formal landscaped gardens and 34 percent have wine cellars. Some 72 percent of their houses boast rooms devoted to entertainment. 30 percent of those report having rooms with theater-type seating.

The number one next must-have amenity, according to the study, is heated floors. 23 percent of wealthy homeowners already have them, and another 21 percent are considering their addition.

Other desirable add-ons include tennis courts (19 percent), kitchens in the master suites (16 percent) and putting greens or small golf courses on the property (16 percent).

Many of the arriviste amenities - boat docks, gyms, indoor pools - have to do with sports activities and maintaining a healthy lifestyle.

Retiring in style

The survey also questioned the wealthy about they want to spend their retirement. Chief among them were travel with 87 percent of females and 84 percent of males wanting to indulge in foreign travel and 77 percent and 71 percent planning on domestic trips.

Spending time with families was big for both sexes (64 percent men and 63 percent women) and the majority hoped to remain physically active pursuing sports (65 percent of men and 76 percent of women).

A significant proportion can't seem to picture themselves out of harness: 19 percent of men and 16 percent of women plan to start a new business after they retire.

Some 54 percent of men and 67 percent of women said their main activity in retirement is to just enjoy life.

With the luxurious homes they already own, that shouldn't prove too difficult


http://biz.yahoo.com/cnnm/070618/061507_the_wealthy_bullish_on_real_estate.html?.v=2

Friday, June 15, 2007

Top 20 paying jobs for over 50

Ok, you are retiring .. so what are you reading this for?
Well, because you are too young to retire folks!

Top 20 paying jobs for over 50

1) Nonprofit Executive
Median Pay: $63,500

2) Patient Representative
Median Pay: $41,800

3) Celebrant/Religious Leader
Median Pay: $48,300

4) Financial Adviser
Median Pay: $66,800

5) Public School Teacher
Median Pay: $47,500

6) Appraiser (Residential Real Estate)
Median Pay: $42,000

7) College Professor
Median Pay: $40,200

8) Day Care Center Teacher
Median Pay: $26,400

9) IRA Specialist
Median Pay: $38,700

10) Labor Relations Manager
Median Pay: $100,700

11) Leasing Consultant
Median Pay: $27,100

12) Lobbyist
Median Pay: $93,100

13) Medical Records Coding Technician
Median Pay: $38,800

14) Pension Administrator
Median Pay: $48,100

15) Religious Educator
Median Pay: $51,700

16) Department Retail Sales Manager
Median Pay: $32,900

17) Retail Sales Staff
Median Pay: $25,400

18) Staff Nurse (RN)
Median Pay: $59,800

19) Tax Accountant II
Median Pay: $59,500

20) Tutor
Median Pay: $25,100

http://money.cnn.com/galleries/2007/moneymag/0703/gallery.bestjobs_50plus.moneymag/

Tuesday, June 12, 2007

Working Longer: Boomers Staying On

Working Longer: Boomers Staying On
Tuesday June 12, 9:29 am ET
By Stephen Ohlemacher, Associated Press Writer
Baby Boomers Expect to Work Longer, Studies Say -- Good Thing Since Many Can't Afford to Quit


WASHINGTON (AP) -- As the baby boomers begin to ease into their 60s, most expect to delay retirement longer than their parents or grandparents.
That's good, because many can't afford to stop working anytime soon.


Two new reports portray aging boomers as better educated, with higher incomes and longer life expectancies than the generations that preceded them. They also have fewer children and are less likely to be married, leaving them with fewer options if they need help in their old age.

"That one child they had will be very valuable," said William Frey, a demographer at the Brookings Institution, a Washington think tank.

Frey is releasing a report Tuesday that says higher rates of divorce and separation could result in greater financial hardship for aging baby boomers. In 1980, about two-thirds of Americans age 55 to 64 lived in married-couple households. That percentage fell to less than 58 percent in 2005.

Americans had been retiring at ever-younger ages since the growth of private pensions and Social Security began more than 50 years ago. However, the retirement trend appears to be reversing.

In 1950, nearly half of men 65 and older were still in the labor force, according to the Census Bureau. That percentage bottomed out in the 1980s at less than 16 percent. It has since edged up to about 19 percent, and experts believe it will increase even more as the oldest baby boomers reach 65.

Women work in much larger numbers earlier in life, but among those 65 and older, their participation in the labor force has remained steady at about 10 percent since 1950.

There are about 78 million baby boomers, those born from 1946 to 1964. The oldest will turn 62 next year, the age at which they become eligible for Social Security benefits.

Some will continue working by choice -- a government survey shows that most U.S. workers nearing retirement age want to gradually reduce their workload rather than abruptly stop.

Others will have to stay on the job as fewer companies offer health insurance to retirees and an alarming number of private pensions fail.

William Zinke had plenty of resources to retire when he reached his early 60s. He didn't want to stop working but did want to get away from the hectic pace of New York, where he ran a human resources firm. So Zinke moved his firm to Boulder, Colo., where the pace is more relaxed. Seventeen years later, at age 80, he continues to put in full work days.

"I've had a very good life," Zinke said. "I'm proud of what I've accomplished, but I'm not done."

Zinke said he is fortunate to own his business and to be able to set his work schedule. He has formed a nonprofit organization, the Center for Productive Longevity, that is working to encourage other employers to help older workers with flexible schedules and other accommodations.

"We need to change the way we think about retirement," Zinke said.

There are more than 37 million Americans 65 and older, a number that is expected to nearly double by 2030, according to the Census Bureau.

"I think there will be significant accommodations and incentives to get people to stay and work longer, and not lose that human capital," said Richard Suzman of the National Institute on Aging, a government research agency.

The agency is releasing a compilation of data Tuesday from the national Health and Retirement Study, an ongoing survey of older people by researchers at the University of Michigan.

The data paint a picture of aging baby boomers facing longer, more active lives, coupled with rising costs for health care and other services.

"People are living longer, and the extra years of life, which I think have been one of the crowning achievements of the last century, have to be financed somehow," Suzman said.

http://biz.yahoo.com/ap/070612/retiring_boomers.html?.v=1

Wednesday, May 30, 2007

Workers giving retirement the boot

Workers giving retirement the boot
By Jonathan Peterson, Times Staff Writer
May 30, 2007

Every morning, a trusty alarm in his own head wakes up John Feyk before 5. Less than an hour later, he is stepping into the white commuter van that drives him 20 miles to Aerospace Corp. in El Segundo.

He has worked there for almost half a century.

"It does get to be more of a strain getting up at 5 in the morning," said Feyk, 79. But retirement, he added, is something he has given little thought to over the years.

"I didn't decide not to retire at 65," said Feyk, a chemical engineer who lives in Rancho Palos Verdes. "You have to decide to retire."

A growing portion of the U.S. workforce seems to agree. After falling for more than 100 years, the retirement age chosen by working Americans is edging up once again, and the trend could have broad consequences for households and the economy.

In the mid-1980s, just 18% of people in their late 60s still had jobs, the Bureau of Labor Statistics said. That figure is now up to 29%, and experts believe the level will continue to rise as people confront the prospect of a lengthy and expensive old age with limited retirement benefits. More than 1 in 4 baby boomers — the huge generation born from 1946 to 1964 — plan never to retire, a recent survey by the National Assn. of Realtors shows.

Many will not achieve that goal. Health problems and workplace pressures such as cutbacks force many workers into retirement earlier than they expect. And employers that have a choice often prefer the young, viewing older workers as costly and resistant to new technologies.

Despite that, more older Americans are pulling paychecks, a shift that is increasingly noticeable among people in their late 60s.

The trend "is really quite dramatic, considering what was going on for so long before that," said Sara Rix, a strategic policy advisor at the AARP Public Policy Institute.

For many years, society made it increasingly easy to stop working. Social Security retirement benefits were repeatedly enhanced after World War II. The advent of Medicare in 1965 helped pay the medical bills. Large employers typically offered pensions that guaranteed set payments for life.

Today's workers face a more hazardous landscape. Traditional pensions are increasingly rare. Companies are cutting back retiree healthcare benefits.

Even the bulwark of Social Security is quietly retrenching. The traditional age of 65 to qualify for full retirement benefits is gradually moving upward — workers born in 1960 and after will have to wait until they are 67 to get their full amount. In the coming years, more Social Security benefits will be subject to income tax, and higher premiums for Medicare Part B (which covers certain medical services) will further erode benefits.

These growing financial pressures may hit baby boomers particularly hard. As much as 80% of this group expects to work during what would normally be their retirement years, according to polling by AARP. Meanwhile, legal barriers to work for older people are largely a thing of the past. In 1986, the government outlawed mandatory retirement for most jobs.

"I'm not sure when I would want to retire at this point," said Claudine Welsh, 60, a Corona resident who works for a benefits administrator. She is thinking about taking on a second job and expects to work for at least seven more years. "Basically, it's because of money."

Welsh, who is single, has no private pension, and her 401(k) balance is $10,000. Home equity is key to her future economic security — she co-owns two houses with relatives. Beyond that, she views work as an important part of life and talks about one day opening up a coffee shop with her older sister.

Otherwise, "what are you going to do with all that time?" she asked.

And there could be a lot of that. For a married couple of 65-year-olds, the odds are 83.7% that at least one spouse will survive to age 85, according to the Society of Actuaries. Chances that one will live to 90 are 63%, and chances that one will reach 95 are 35.7%.

Ten years ago, the typical age of retirement for all U.S. workers was 60, according to the Employee Benefit Research Institute. Recently, it has risen to 62 overall, a shift that researchers believe may be partly tied to the increasing reliance on 401(k) plans and the decline of traditional pensions that guaranteed monthly payments for life.

The trend could potentially have a big effect on society, putting more money in the pockets of the elderly and even giving the economy a boost, as more workers continue paying income taxes in their golden years. Research by analysts at the Urban Institute suggests that if all workers added one year to their careers, it could markedly reduce the projected shortfall in Social Security.

"It's a direction we have to go in," said Alicia H. Munnell, director of the Center for Retirement Research at Boston College. "You can let your 401(k) plan build up some more. You can reduce the period that you have to live off your assets."

The economy's long-term shift toward knowledge-based jobs and away from physical labor is another force that might be increasing the rolls of older workers. Already, older employees with higher levels of education seem to be playing a major role in the trend, and some say the psychological rewards rather than money are what motivate them.

"It's interesting work," said Feyk, who has worked at Aerospace Corp. for most of the last 45 years. "It's new challenges."

Feyk helps oversee classified work of contractors on military space and missile systems. "The things that we do, the projects that we look at, have never been done before." Still, it is unclear how far the trend toward working later in life will go. Society is much richer than the days when people worked almost until death, and early retirement continues to hold some of its allure.

Older employees can find themselves scrambling between different jobs, as companies rise and fall and long-term relationships between employer and employee become rarer.

When Jules Lippert's business of selling prebuilt homes went bust in the 1980s, he loaded a van with antiques and spent the next 16 years selling his wares at trade shows around the United States.

Finally wearying of the road, he tried to shift his business to EBay. A couple of years ago, he took up his neighbor's offer to train interviewers for market research.

Now 76, Lippert still works as many as 35 hours a week: "As long as I'm in good health, I see no reason to retire," said the suburban Philadelphia resident. "I would sit around and vegetate."

At the same time, money "is important," said the grandfather of seven. "My wife and I could exist on our combined Social Security plus our IRA, but it would not leave a lot of room for extras."

Employers will play a big role in deciding whether baby boomers' visions of an industrious old age turn out to be fantasy.

Some companies rely on the institutional memory and experience of longtime employees.

"We encourage people to stay with the company," Aerospace spokesman David L. Jonta said. "We have a lot of people that do, and we value that expertise."

Hospitals and other employers struggling with labor shortages are also known to court older employees by offering flexible schedules and extra leeway for time off.

Still, such companies "quite frankly are ahead of the curve," said Deborah R. Russell, director of workforce issues at AARP.

After interviewing 400 employers, researchers at Boston College recently concluded that many companies were only "lukewarm" about accommodating older workers who might be willing to stay on the job a few extra years.

Which doesn't make a lot of sense to Feyk.

"Somehow we're going to have to get people over 65 into productive work, because there aren't going to be enough of the young people to support them," he said.

He is not the only member of his family who feels that way. Feyk's wife, he noted, recently got a job as a church organist in San Pedro. "She's getting her W-2 right now," he said, adding: "She's just a young thing. She's only 75."

*


--------------------------------------------------------------------------------
jonathan.peterson@latimes.com

*

(INFOBOX BELOW)

Staying on the payroll

The trend: Americans are now typically retiring at age 62, compared with age 60 in 1997, reversing decades of decline in the retirement age.

What's behind it: As employers scale back pensions and health benefits for retirees, many people cannot afford to retire. Others simply choose to work, saying they would be bored otherwise.

The consequences: By staying in the workforce, older employees generate more spendable income — buoying the economy and contributing additional income taxes. Social Security could also be helped as workers pay into the system for additional years.

Los Angeles Times


--------------------------------------------------------------------------------




http://www.latimes.com/news/printedition/front/la-fi-retire30may30,1,4144111,full.story?ctrack=1&cset=true

Thursday, May 17, 2007

ENVIRONMENT – MORE THAN JOBS – OCCUPYING MINDS OF TODAY’S COLLEGE-BOUND STUDENTS

Today, Key Educational Resources released the results of a survey of 400 incoming college freshman on their attitudes, lifestyle and outlook for the future. The survey provides a unique comparison of how attitudes of this year's college-bound freshman differ from those of their boomer parents.


Some highlights include:


• Students are more concerned about the environment and healthcare than their boomer parents


• Overall, this generation is less optimistic that their futures will be bright compared to their parents


• Today's students devote far more energy and time to the college selection process than their boomer parents


FOR IMMEDIATE RELEASE





ENVIRONMENT – MORE THAN JOBS – OCCUPYING MINDS OF TODAY’S COLLEGE-BOUND STUDENTS



CLASS OF 2011 MORE CONSUMED BY COLLEGE SELECTION/APPLICATION PROCESS THAN THEIR BOOMER PARENTS.



CLEVELAND, Ohio – May 16, 2007 – What’s on the mind of the college class of 2011? Making ends meet financially, keeping up with their workload and getting good grades. What did their boomer parents worry about? Surprisingly, making ends meet, grades and their workload. But that’s where the similarity ends.



In a recently completed survey by Key Education Resources, a division of KeyBank, some stark differences emerged in how college-bound students view the world and their place in it. Key asked students planning to attend college this fall how they felt about everything from their futures to which social issues most concern them. Parents of those students were also asked to look back to when they were heading off to college and provide their thoughts.



Of the more than 400 members of the college class of 2011 polled, 18 percent of students said that their number one social concern is the environment while their parents were much more concerned about the job market as they entered college. Twenty-nine percent of parents said it was their top concern, whereas only 11 percent of students today ranked it number one.



The amount of time and energy spent on the college selection and application process has also mushroomed in a generation.



Thirty-six percent of today’s students report spending a lot of time on the process, or that it’s all consuming. Only 12 percent of their parents felt that way about their college planning process. Also, 53 percent of parents said their moms and dads didn’t help them at all in the process, whereas only 9 percent of today’s students said their parents provided no help. But both groups (25-percent) agreed that “making ends meet financially” was their biggest concern upon entering college.



“Clearly, many students and parents feel overwhelmed by the college selection and financing process,” said Rick Vonk, president of Key Education Resources. “But even with all of the information to consider, there’s a way to simplify the process.”



Vonk recommends focusing on three main areas.



Choose appropriate curriculum and get good grades

· The more college preparatory courses you take and the better grades you get, the better the odds you’ll be accepted by your school of choice and land a scholarship.



Decide what you want in a school and let that drive the selection process

· The best college for you is one that suits your specific needs and not necessarily one that lands on some particular ranking or carries a certain prestige. Important criteria to consider – a school’s location and size, the curriculum, campus life, and whether to attend a private, public, or community college. There are many web tools available to help you start the process.



Shop around for the best way to pay for school

· A sound strategy is to apply for scholarships and grants (free money) first. Then look to fill the gap between what your school costs and what you have in hand (grants, scholarships, work study, money from savings, or gifts, or from a campus job) with federal or private loans. Each will offer different borrower benefits and repayment plans that may be more or less attractive to you.



The survey also found students today are less optimistic than their parents were about having bright futures (42 percent vs. 63 percent), yet they still believe they will be able to accomplish their dreams. They are also slightly more likely to choose a job they’re passionate about over one that simply pays well (91 percent vs. 86 percent).



When it comes to the most important people in their lives – mothers and fathers were at the top of the list for both generations, but we’ve seen a rise in the importance of siblings and a decline in the importance of significant others over the years. Today’s students said their siblings are the most important people in their lives, while parents said their significant other was the most important person in their life when entering college.



What hasn’t changed from one generation to the next is what would give students the greatest fulfillment in their lives after graduation. Building a strong family, service to others, and marriage topped the list for both groups.



For more information on the survey or tips on how to save for college, visit https://www.Key.com/collegebound/.



About Key Education Resources

Key Education Resources, the education financing arm of KeyBank, is one of the largest education loan providers in the U.S. In business for more than 50 years, Key Education Resources provides federal education loans, private loans, monthly payment plans and education consolidation loans for students and families in K-12, undergraduate, graduate and professional education institutions. For more information, visit https://www.Key.com/collegebound/.



About KeyCorp

Cleveland-based KeyCorp (NYSE: KEY) is one of the nation’s largest bank-based financial services companies, with assets of approximately $93 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information, visit https://www.Key.com/.

# # #



Note to Editors: For up-to-date company information, media contacts and facts and figures about Key lines of business, visit our Media Newsroom at Key.com/newsroom.

Saturday, May 5, 2007

Where the Millionaires Live

Where the Millionaires Live
The number of U.S. millionaire households has risen to a record high
of 9.3 million as of mid-2006, up 5 percent from 2005, according to
TNS Global's annual Affluent Market Research Program.

The millionaires' mean net worth, not including their primary
residence, is $2,167,167 with investable assets of $1,442,841. Their
median age is 58 and 45 percent are retired.

Forty-six percent of millionaire households own investment real
estate such as a second home, third home, rental properties, and
undeveloped land. Thirty-four percent have a first mortgage on these
residences and 25 percent have second mortgages on these additional
residences.

The TNS study identified 10 counties with the highest number of
millionaire residents.

Los Angeles County with 268,136
Cook County, Ill., 171,118
Orange County, Calif., 116,157
Maricopa County, Ariz., 113,414
San Diego County, Calif., 102,138
Harris County, Texas, 99,504
Nassau County, N.Y., 79,704
Santa Clara County, Calif., 74,824
Palm Beach County, Fla., 71,221
King County, Ore., 68,390

Source: Associated Press (05/01/07)

Sunday, April 29, 2007

U.S. Arthritis Numbers, Costs Soaring

U.S. Arthritis Numbers, Costs Soaring

By Janice Billingsley
HealthDay Reporter
Fri Apr 27, 7:02 PM ET



FRIDAY, April 27 (HealthDay News) -- As America's baby boomers move into late middle age, arthritis and other rheumatic conditions are taking up an ever larger chunk of health-care spending, a federal study warns.



The U.S. Centers for Disease Control and Prevention report, which spans the six years from 1997 to 2003, detected a 25 percent jump in the number of adult Americans with arthritis and other rheumatic conditions. Overall, more than 46 million people now suffer from arthritis, compared to 36.8 million in 1997.


That means more than one in every five adult Americans now has arthritis, the CDC says.


The total annual tab to care for these patients: almost $81 billion.


The $81 billion figure represents three percent of U.S. gross domestic product ( GDP), "a startling figure," said Louise Murphy, an Atlanta epidemiologist who worked with the CDC on the report.

Something must be done to turn these figures around, experts say.


"An aging population isn't something that we can control, but you can try to make the population healthier. We really have to push public health programs that improve food consumption and the ability to exercise," said Edward Yelin, professor of medicine and health at the University of California, San Francisco, and lead author of the study.


Baby boomers -- Americans born between 1946 and 1964 -- are leading the surge. Of the nine million people newly diagnosed with arthritis or rheumatoid conditions during the six-year study, 66 percent of those people were between the ages of 44 to 64.


Significant, too, according to researchers, was that most of the increases in arthritis and other rheumatoid conditions occurred among people who had other health worries, such as diabetes or heart conditions. In this group, the prevalence of arthritis increased by 28 percent, from 31.8 million to 40.8 million, compared to a 6 percent increase for those who were otherwise healthy, 5 million to 5.3 million.


Overweight and obesity are prime culprits, Yelin said. "Higher levels of body mass index (BMI) are associated with higher rates of osteoarthritis," he said. "And osteoarthritis in the joint this year is the joint replacement five to ten years down the road."


Caring for these new patients doesn't come cheap. Attendant costs for treating people with arthritis rose by 24 percent between 1997 and 2003 -- from $65 billion to $81 billion, the report found.


Murphy said she and her colleagues were surprised to find the cost increases mostly attributable to people rather than procedures.

Read the whole article at Heatthday.com

http://www.healthday.com/

Assess Your Risk for arthritis at The Arthritis Foundation.
http://www.arthritis.org/conditions/JointHealth/Quiz/risk.asp

Thursday, March 29, 2007

Best Job For Over 50

Best jobs if you're over 50
You're ready to retire from the rat race.
Now you want work you can feel passionate about.
By Jennifer Merritt, Carolyn Bigda and Donna Rosato
March 22 2007: 8:20 AM EDT

NEW YORK (Money Magazine) -- Maybe you're financially secure enough to try a career you've only dreamed about. Or you're burned out after toiling away in the same field for three decades.

There's gotta be more to work - and life - right?

"Most people over 50 plan to continue working beyond traditional retirement age," says Howard Stone, co-founder with his wife Marika of 2Young2Retire.com. "A high percentage want to do something more satisfying than what they've been doing."

The search for meaning prompted AC Warden to become a celebrant - an officiant at life events who isn't necessarily affiliated with a particular religion - after 25 years as a documentary producer."

With budgets shrinking, timelines speeding up and the quality of productions diminishing, I began looking for a more fulfilling option," says Warden, 55.

She took classes for a year that cost about $1,800 and earned her certification in 2003. Warden officiated at more than 60 weddings in 2006, and also does funerals, house blessings and commitment ceremonies. Though she makes just $30,000 a year after expenses, she loves the work so much that she can see doing it for the rest of her life.

It might be hard to imagine making a switch at this stage, but the biggest job gains for the past few years have been among older workers, according to the Bureau of Labor Statistics. And some industries, including health care and education, are actively recruiting people over 50.

Still, when you're making a big change, you've often got to overcome stereotypes about older workers being stuck in their ways.

Here are five essentials to making a successful transition.

1. Make age an advantage
Sure, bias is out there. It's up to you to put your age in a positive light. Talk up your experience and how it fits into what a potential employer is looking for. Is the company trying to launch a service, cut costs or find new customers?

Use examples from your work history that show how you tackled similar problems, and explain how that will help in your new job.

After a 20-year career at Polaroid that included stints in sales, marketing and operations, Roberta Hurtig, 58, became executive director of Samaritans, a suicide-prevention organization in Boston, in 2002.

"A lot of my corporate skills translated. The heart of what we do at Samaritans - training people to provide great customer service - is essentially the same," she says.

2. You're cool. Prove it.
Half of hiring managers in a 2006 survey said the biggest disadvantage of taking on older workers is that they don't keep up with technology. In an interview, talk about the Web research you did on your prospective employer or the new software program you mastered.

"It's critical to show that you're knowledgeable about even basic things," says Deborah Russell, director of economic security at AARP. "Put your e-mail address on your résumé or mention that you pay your bills online."

3. Look the part
Wear an up-to-date suit for interviews, and during small talk drop in your weekly tennis game or that 10-k race you ran. Appearance counts, but energy is more important.

"You can dye your hair and minimize your wrinkles," says Russell. "But really it's about being enthusiastic and showing you can help a company succeed."

4. Plan ahead
If you're going to take a lower-paying job, you need to prepare financially. On the flip side, transitioning to a career that you can see doing beyond 62 or 65 may allow you to put off tapping your savings.

5. Get real
Don't get too seduced by the idea of saintliness. It's easy to romanticize life as a teacher, a minister or an environmentalist. It's still work.

"People are looking for greater meaning," says Marc Freedman, CEO of Civic Ventures and author of Encore: Finding Work That Matters in the Second Half of Life.

"Unfortunately, some of these fields are the most dysfunctional and low paying."

http://money.cnn.com/2007/03/17/magazines/moneymag/bestjobs_over50.moneymag/index.htm

Tuesday, March 13, 2007

PEOPLE OVER 60 TO INCREASE BY MORE THAN 1 BILLION

WORLD POPULATION WILL INCREASE BY 2.5 BILLION BY 2050;

PEOPLE OVER 60 TO INCREASE BY MORE THAN 1 BILLION

NEW YORK, 13 March (United Nations Population Division) -- The world population continues its path towards population ageing and is on track to surpass 9 billion persons by 2050, as revealed by the newly released 2006 Revision of the official United Nations population estimates and projections.

The results of the 2006 Revision -- which provide the population basis for the assessment of trends at the global, regional and national levels, and serve as input for calculating many key indicators in the United Nations system -- incorporate the findings of the most recent national population censuses and of the numerous specialized population surveys carried out around the world.

According to the 2006 Revision, the world population will likely increase by 2.5 billion over the next 43 years, passing from the current 6.7 billion to 9.2 billion in 2050. This increase is equivalent to the total size of the world population in 1950, and it will be absorbed mostly by the less developed regions, whose population is projected to rise from 5.4 billion in 2007 to 7.9 billion in 2050. In contrast, the population of the more developed regions is expected to remain largely unchanged at 1.2 billion, and would have declined, were it not for the projected net migration from developing to developed countries, which is expected to average 2.3 million persons annually.

As a result of declining fertility and increasing longevity, the populations of more and more countries are ageing rapidly. Between 2005 and 2050, half of the increase in the world population will be accounted for by a rise in the population aged 60 years or over, whereas the number of children (persons under age 15) will decline slightly. Furthermore, in the more developed regions, the population aged 60 or over is expected to nearly double (from 245 million in 2005 to 406 million in 2050), whereas that of persons under age 60 will likely decline (from 971 million in 2005 to 839 million in 2050).

http://www.un.org/News/Press/docs/2007/pop952.doc.htm

Get Ready, Here Come The Boomers!

Jane Kenny
1526 University Blvd. W. #113
Jacksonville, FL 32217
904-612-6728
kennyrv@gmail.com

Get Ready, Here Come The Boomers!
How RV retirees will change the face of camping

By Jane Kenny
RV Lifestyle Specialist

By the year 2010 one-third of the population in the U.S. will be over the age of 50. That means the Baby Boomers – all 76 million of them – will be retired or on the brink of retirement. Retirees in the 21st century are healthier and will live longer than their parents and grandparents did. During their retirement years, Boomers want to be active, enjoy life and fulfill dreams. For many (if not most) traveling is a big part of the retirement dream.

Despite high gasoline prices and low miles-per-gallon, retirees are still heading out to the open road in recreational vehicles. Why?

• They want to fulfill a dream of a lifetime – traveling and seeing the county during retirement.

• The overall cost of traveling in an RV is not as expensive as other modes of travel.

Recent surveys indicate that Boomers will revolutionize society’s concept of retirement. Baby Boomers are largely ignoring the traditional model of a sedentary retirement. They opt for an active retirement lifestyle and expect to make time for travel…extensive travel.

Retirement on the open road? Many Boomers consider this to be an idea whose time has come. All over the nation retirees will be heading out in a new wave of RVs. And this will change the public perception of “camping.”

Camping holds a special appeal for Baby Boomers. They were the hippies of the 60’s in the beat-up old VW bus with the peace symbol on it. They were the ones who camped out in tents or under the stars, the environmentalists who wanted to get back to nature. By heading out to the open road, they come full circle to the free-wheeling days of their youth. But they are somewhat older – and richer – now. These days, their campers aren’t tents or VW buses. True, they want to get back to nature, but with more creature comforts. Enter the “big rig,” the 21st century Boomer version of the camper.

Today’s RV retirees won’t be low-budget type campers tooling on down the road in a little motor home with wiggling plastic hula girls on the dashboard. No longer are they the older folks perched in vehicles high above the road. Nowadays they are yuppies, former flower children with well-funded 401K’s, traveling comfortably in their high-end, modern “big rig” motor homes with price tags to match.
With new, roomy RVs on the market – RV travel is an attractive option for retirees, not only for people who have had some experience with camping, but for those who never camped before. Motor homes and fifth-wheel trailers have evolved to vehicles with double, triple and even quadruple slideouts. Many of these new RVs are aptly named COWs – condos on wheels. It can easily be said, “This is not your father’s camper.”

The price tag on a new RV is not the same as the price of your father’s tent or pop-up, either. However, Baby Boomers bring to their retirement years an unmatched level of financial independence. Consequently many can afford RVs that price out well into six figures. Many Baby Boomers who never thought they’d own a gas-guzzling motor home are considering the purchase in order to fulfill their dream of traveling the country.

Retirees who want to travel extensively are attracted to RVs because:

• Schlepping suitcases in and out of hotels is a thing of the past. Their clothes are with them, hanging in closets or folded neatly in drawers, in their home on wheels.

• They don’t have to deal with the hassles of air travel, namely passenger screening, changing planes and being at the mercy of tight schedules and weather delays.

• RVers can set their own schedule…travel when they feel like it and stay wherever they want for as long as they want.

• They sleep in their own bed and have their favorite pillows. They are sure the bathroom is clean. They have a kitchen and enjoy home-cooked meals on board.

• Pets travel with them.

• The “dream vacation of a lifetime,” one that lasts many months, even years, is affordable and achievable in an RV.

Current market research data show that RVs are increasingly viewed as status symbols. Large motor homes and fifth-wheel trailers are in vogue these days after being out of fashion for most of the 1980’s and 90’s. Boomers show a penchant for retiring earlier, traveling more and doing both in style.

A growing number of high income people prefer to spend their leisure time in high end coaches. While it’s true that they may spend a night or two en route in a campground, their final destination is always an ambiance RV resort in popular vacations spots such as Palm Springs, Hilton Head or Naples. Golf and gaming destination resorts are becoming as popular fishing destinations for RVers. Casino resorts throughout the country are scrambling to add RV Parks to meet the demand.

Many newer RV Parks are quick to identify themselves as “ambiance resorts.”
Boomers who can afford to pay for it will demand luxury in their home on wheels as well as at their destination resorts.

About the author: Jane Kenny’s second book,
RV RETIREMENT, How To Travel Part-Time or Full-Time In A Recreational Vehicle, is from Roundabout Publications at
http://www.TravelBooksUSA.com
or 1-800-455-2207.

Thursday, March 1, 2007

Housing Boomers

By Nanette Overly, Epcon Communities

As the nation’s largest demographic ages, a new housing product emerges to change the way — and the where —Americans retire


The Baby Boomer Generation is once again exerting its gravitational pull on the housing market.

Today, as Baby Boomers enter their 50s and 60s, they are healthier, more active and more engaged in their lives and their communities than previous generations. When it comes to deciding how and where they will live, Boomers aren’t in the rocking chair — they are in the driver’s seat.

Home Sweet Home
According to research, 37 percent of Boomers will move to a new home within the first year after their youngest child goes off to college. Increasingly, however, these newly mobile Empty Nesters are breaking away from traditional expectations. They are moving across town, rather than across the country. They are ready for a more manageable lifestyle, but shudder at the idea of a traditional “retirement” community.

In fact, a recently published AARP survey revealed that, when it’s time to retire, 90 percent of today’s 50+ Americans say they would either stay in their current home or move to one very nearby. In short, a significant majority of Baby Boomers would prefer to “age in place.”

A few homebuilders, such as Epcon Communities, are recognizing this trend, and are providing an expanded range of innovative housing options that combines the comforts and conveniences of a resort lifestyle with the aesthetics, amenities and independence of a single-family home; not thousands of miles away, but right down the street. These new Boomer-oriented homes and communities are a testament to the vital importance of location, as astute homebuilders recognize that proximity to children and grandchildren is a driving force behind many real estate decisions.

Home is Where the Hearth Is
New Boomer-friendly housing options incorporate a number of design and development strategies to cater to this demographic. They recognize that, to this nostalgic generation, the idea of home and hearth as the iconic center of family and social gatherings exerts a powerful emotional appeal.

These design considerations for Boomers speak to leisure, comfort, quality and convenience, such as the following new design techniques and amenities:

• Ample open space and tall ceilings (which create a sense of “volume”) are very popular.
• Minimizing unnecessary staircases through single-story layouts is a common strategy.
• Well-deserved small luxuries, such as twin vanity sinks have gained favor.
• Kitchens are important, and are highly functional with expansive counter space.
• Laundry and utility rooms are convenient and accessible, without becoming too prominent or intruding into the living space.
• Wasted, excess space is not desirable, but space for hobbies and other pursuits can be a nice bonus.
• Hallways are wider, but not to accommodate a wheelchair; rather, to allow the exercise devotee ample room to walk one’s bicycle into the house.

As is the case with all of Epcon Communities’ more than 200 communities in 31 states, these new communities feature elegantly designed residences that present the appearance of a detached home when viewed from the street, providing all the conveniences and efficiencies of a condo while exuding the aesthetics and vibe of a freestanding house.

Active Adults
Working out and staying active are very important to Boomers, and access to a high-quality fitness center is a necessity, rather than a luxury. New communities also now frequently feature integrated or adjacent walking trails.

Exterior landscaping is attractive, but managed and maintained by professionals, freeing up valuable personal time.

Swimming pools are important to the Active Adult, providing a place to relax and unwind, another option for exercise, and a venue for entertaining the grandchildren.

Access to community clubhouses and public spaces is another welcome feature, providing usable common space to host receptions or activities.

Ultimately, this new and increasingly popular residential format enables Boomers to simultaneously assert their independence and relieve some of the everyday burdens and tedium of housework, yard work and other mundane responsibilities. These residences, convenient to restaurants and other amenities, allow homeowners to enjoy the pride and satisfaction of hosting events and welcoming guests, while providing the freedom to be able to “lock the door and go,” to travel on a moment’s notice.

Baby Boomers may need to change where they live, but they don’t have to change how they live.

Tuesday, February 6, 2007

State Sen. Dennis Hollingsworth to Help Growers

He's my man!!!!!!!!!!!

Tuesday, February 6, 2007
Last modified Wednesday, January 31, 2007 5:26 AM PST


State Sen. Dennis Hollingsworth listens to Larry Saunders of Saunders Ranch in Fallbrook as Saunders talks about his problems collecting on insurance claims related to crop damage.
DAVID CARLSON Staff Photographer
--------------------------------------------------------------------------------

State senator aims to help growers

By: NICOLE SACK - Staff Writer

TEMECULA -- State Sen. Dennis Hollingsworth introduced legislation Tuesday to "soften the blow" of January's cold snap that hit growers statewide and caused more than $1 billion worth of damage to California crops.
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Hollingsworth, R-Murrieta, has introduced three bills offering tax breaks for California farmers who suffered crop loss as well as those facing long-term recovery to damaged groves and nurseries.

"The growers in San Diego and Riverside counties that I represent, as well as farmers in more than 20 other counties around the state, have suffered tremendous damage from this freeze," Hollingsworth said in a press conference at the Calavo avocado packing house in Temecula. "Their losses will be in the millions and could last for years."

While the official numbers are yet to be released, representatives from the California Farm Bureau Federation estimate the statewide damage to crops to be $1.1 billion. Steve Pastor, executive director for Riverside County Farm Bureau, said more than $86 million of damage was done to this county's crops alone.

"This disastrous freeze wiped out crops overnight," Pastor said. "These measures are going to be good to help farmers get back on their feet."

The first bill introduced by Hollingsworth, SB 148, would provide a property tax exemption for fruit and nut trees severely damaged by the cold. The exemptions would be available to farmers for the next four years. The trees, although mature, would not be assessed at full value while they recover from the freeze.

Carlos Vasquez, field operations manager for Calavo, said it will take about two years for damaged avocado trees to again produce fruit. But during that time, farmers must maintain the groves.

"These growers will have no income coming in, but will still be incurring costs," Vasquez said. "The effects of this freeze will carry through the year."

The second bill, SB 149, would offer a sales tax exemption for materials farmers used to fight the cold snap, such as natural gas, gasoline and other fuels used to warm groves, orchards and greenhouses.

The successive nights of low temperatures, which dipped into the 20s from Jan. 12 to 16, took a severe toll on citrus fruit. While there have been widespread losses, the California Farm Bureau Federation reported frost-protection measures taken by farmers did succeed to some degree.

To make the tax breaks more timely, Hollingsworth is also pushing a third bill, SB 114, that would allow farmers to deduct losses against their prior year's income, as well as carry operating losses forward for five years.

The trio of bills has been introduced in the state Senate. No further action has been taken as the official language of the bills is being reviewed by the rules committee.

Hollingsworth hopes to fast-track the measures. The property tax relief bill would have to be approved prior to property assessments, which could delay the tax breaks if the Legislature drags its feet. Once approved, the freeze relief would be effective for four years, said Hollingsworth spokeswoman Erica Holloway. The exemptions would be on the 2007 tax rolls, she said.

While Hollingsworth's initiatives were welcomed, area growers asked if more immediate relief could be offered.

Larry Saunders, a Fallbrook avocado grower, said he wants the state to help expedite Federal Crop Insurance reimbursements, which he says generally take one year to be paid out.

"The losses are known; our premiums are paid. I know that the federal government subsidizes our insurance, but my loss is my loss," Saunders said. "It is not in the benefit of the farmer to have to wait a year to get some help."

Avocados have begun to drop from trees as a result of freeze damage to the fruit stems, what growers call "chill drop." Freezing temperatures weaken the stems and cause fruit to drop from the trees prematurely. The freeze could also harm buds for next season's avocado crop, Vasquez said.

The damage is also visible, said Chuck Bandy, avocado division manager for McMillan Farm Management.

"It looks like a flame thrower was taken to these trees," Bandy said. "Soon the trees will look like skeletons. They will regrow, but won't produce for two years. Growers are going to need assistance to make it through the next few years."

-- Contact staff writer Nicole Sack (951) 676-4315, Ext. 2616, or nsack@californian.com.






http://www.nctimes.com/articles/2007/01/31/business/news/4_03_361_30_07.txt

Saturday, February 3, 2007

The Graying Of Baby Boomers - Retirement Paradise Lost and How To Gain it.

The Graying of the Boomers: Retirement Paradise Lost (And how to regain it.)

February 2, 2007

SOURCE: InsuranceNewsNet, Inc.

In her book Thinking Out Loud American journalist Anna Quindlen wrote:

Somewhere between a third and a quarter of all people living in America today were born between 1946 and 1965 and if you think you’re tired of hearing about us, you should try being one of us.

Now that the baby-boomer generation is turning into their parents, the future isn’t looking as bright as what analysts earlier predicted. In fact, the general buzz seems to reflect Quindlen’s sentiment: it won’t be easy being gray.

Starting 2008, baby boomers born in 1946 will hit their 62nd year and become eligible for Social Security retirement benefits. So what’s the problem? Several years ago analysts estimated between $10 – 40 trillion from the current generation of senior citizens to the baby boomer generation. Financial experts painted a rosy retirement scenario for boomers. Now things do not look as rosy.

The impending retirement of at least 82,826,479 baby boomers is expected to stress the federal budget as they collect Social Security and Medicare benefits. Social Security, Medicare and Medicaid, which cost $1 trillion in 2005, are expected to eat up 75% of the total federal budget by 2030. By 2050, people over 85 will rise to 19 million.

How did this thing go from trillions of dollars to this?

For one, boomers have a longer life expectancy. Former Federal Reserve Chairman Alan Greenspan raised concerns over Americans living longer and medical costs outpacing personal incomes. Meanwhile current Federal Reserve Chairman Ben Bernanke said Social Security, Medicare and Medicaid would rise rapidly in the next 10 years with devastating effect of entitlement spending on the country.

Another contributing factor to the future fiscal problem is that boomers have been spending their savings away. Dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University James W. Hughes described them as a generation of consumers - not savers. Without sufficient private savings, retiring on schedule may not be realistic.

If the situation is a disease approaching critical stage, the cures proposed by the Social Security and Medicare Boards of Trustees will be bitter to most. Getting Social Security back on track the immediate imposition of an additional 16% payroll tax. An alternative to that would be reducing benefits by 13%. To keep Medicare afloat will take 121% tax increase. An option to that would be a 51% reduction in services.

Federal Reserve Chairman Ben Bernanke has the same opinion. He cautioned members of Congress who are batting to cap tax rates must face the fact that low tax rates are sustainable if outlays and entitlements are pruned down.

Currently, payroll taxes from five working Americans is needed to finance the Social Security and Medicare benefits of a single retiree. Twenty-five years from now only three workers will support each retiree. According to Federal Reserve Board the declining worker-to-retiree ratio is not only expected to bring down the standard of living. It will increase tax burden by as much as 33% if retirement benefits remain unchanged.

Speaker Nancy Pelosi is banking on the AmeriSave Plan to provide providing middle-class families with retirement security. The proposed AmeriSave Plan will increase and upgrade existing retirement accounts - including the 401(k)s and IRAs. The plan’s “AmeriSave Match” will match first $1,000 contributed to an IRA, 401(k), or similar retirement plan dollar-for-dollar. AmeriSave will add the benefit of compound interest to the guaranteed benefit of the Social Security of some 100 million Americans.

“We will strengthen retirement security without adding to the deficit,” vows the Speaker. “The AmeriSave Plan will increase national savings and grow our economy while helping middle-class families prepare for a brighter future.”

The prospect of being gray and retired may look bleak but if you’re 45-years old you still have about 240 paychecks ahead of you. So it isn’t too late. But if you’re not big on leaving your future in the hands of the President, Senate and Congress, here’s what you can do now on your own: set up direct deposit.
Direct deposit is a good way to get Social Security and other federal benefit payments. Because it is predictable and dependable, it also provides better control over financial resources and time.

To get a paycheck direct deposit up and going requires paperwork with employees must accomplish with their employers. Treasury Fiscal Assistant Secretary Donald Hammond said direct deposit is safer and more convenient than paper checks and encourages baby boomers to sign up for direct deposit for its significant benefits and cost savings for American taxpayers. John Rother, AARP (formerly American Association of Retired Persons) Group Executive Director of Policy and Strategy strongly agrees describing it as making good sense any way you look at it.

Respected economic journalists and business forecasters Knight Kiplinger also has a number of tips for gaining financial security before hitting the gray wall:

Get insured against disability, serious illness, disability, untimely demise and other risks before acquiring any financial assets.
Keep credit cards in check and limit its use for buying properties with long-term values such as house or education plans. Everything else should be paid with cash.
Make a monthly deposit to a mutual fund, money market or brokerage account before making any other checks.
And finally, Kiplinger says instant gratification is fun but it won’t fund long-term financial goals. The price of a more secure future is living a simple life for now.

© Entire contents copyright 2006 by InsuranceNewsNet.com, Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.

http://insurancenewsnet.com/article.asp?a=top_news&id=75273

Thursday, February 1, 2007

1 out of 5 San Diego County Jobs Linked to Military Spending.

Study: 1 out of 5 county jobs linked to military spending

By: JOE BECK - Staff Writer

SAN DIEGO ---- Military spending remains a cornerstone of San Diego County's economy and is the second-largest employer in the county, according to a study released Wednesday by the San Diego Regional Chamber of Commerce.

Defense supports nearly one in five jobs in the area, according to the study.

"This does give us a great opportunity to see the contributions the military makes to the local community," said Brig. Gen. Angela Salinas, commander of the Marine Corps Recruit Depot in San Diego. Salinas was one of several military and chamber officials who spoke by telephone to reporters at a news conference following release of the 53-page report.


The study found that defense spending created 148,616 jobs directly and an additional 142,530 jobs through indirect spending, a total of about 290,000 jobs, or more than 20 percent of all regional jobs. The biggest part of military spending went into the manufacturing sector, which claimed $4.5 billion, nearly 25 percent of total defense expenditures in the area.

The study showed spending by the Defense Department pumped $18.3 billion into the San Diego area in 2004, the last year for which statistics were available. The $18.3 billion constitutes 14.7 percent of the total regional economy, according to the study. Of the $18.3 billion benefit, $11.7 came from direct expenditures and the remainder through spin-off effects.

The study was compiled using statistics on defense procurement contracts, expenditures by military bases and expenditures on salaries, retirement and disability benefits among active-duty service members and civilian employees of the military.

The regional chamber has been a stalwart supporter of military bases in the county. Though the chamber lobbied against base closures, it voted by a slim margin to oppose the military's position on a ballot measure to put a civilian airport on Miramar Marine Corps Air Station.

Military and chamber officials said they conducted the study to obtain a comprehensive set of statistics on the effect of military spending on the San Diego area that could be used for several purposes, including lobbying politicians at the local, state and national levels on military spending.

The study cited Science Applications International Corp. and National Steel & Shipbuilding Corp., both in San Diego, as the leading military contractors in the area.

The study showed that research and development, often cited by economic development experts as the most desirable form of economic activity, lagged well behind procurement contracts among categories of defense spending. Salaries and wages, retirement and disabilities and base expenditures were also much more significant sources of spending, the study said.

The study concluded that military spending is a crucial part of the local economy, despite a trend toward greater diversification in the last two decades.

"Even with a substantial portion of the military forces deployed outside the region, the military is still the second-largest employer in the county," the report said.

The report broke down the effect of military spending by branches of the military and installations. The Navy accounts for 65 percent of the economic activity generated by military spending and the Marine Corps accounts for 23 percent, according to the study. Of the naval bases, Point Loma registered the biggest impact, accounting for $5 out of every $100 in the regional economy and three out of every 100 jobs. The Marines' Camp Pendleton contributed $3.1 billion in economic output and supported almost 2 percent of all jobs in the region.

Rear Adm. Len Hering, commander of Navy Region Southwest in San Diego, said the fresh statistics will also help in community planning.

The study identified several future projects that are expected to make major contributions to the area economy. The biggest effect is likely to come from the Navy's Broadway complex in downtown San Diego, a collection of seven buildings offering office, hotel, retail and public space that the study projects as creating 22,000 jobs for the local economy.

Increases in the size of the Navy and Marine Corps were also cited as sources of future growth.

For example, the federal government wants to expand the Marine Corps from 175,000 active members to 202,000 in the next five years, an initiative that could bring up to 13,000 more recruits to the Marine Corps Recruit Depot and 4,988 more Marines to Camp Pendleton, according to the study.

The study said each Marine at Camp Pendleton generates $83,500 in economic activity.

"Assuming there is no change in this figure, future force level increases may generate between $62 (million) and $417 million per year in economic output for the San Diego regional economy," the study said.

-- Contact staff writer Joe Beck at (760) 740-3516 or jbeck@nctimes.com.

Today
Study: 1 out of 5 county jobs linked to military spending

http://www.nctimes.com/articles/2007/02/01/news/top_stories/01_22_811_31_07.txt

Thursday, January 11, 2007

Welcome To Our Newest Blog.

Welcome To Our Newest Blog


We decided to create an extension of our own site for our community to interact without the interferences of SPAMMERS and HACKERS who are proliferating all the internet sites around the world.

We hope that you will join us at our main site and post comments and
messages here.

Join our main site membership database.
http://boomersint.org/pmpre30/register.htm

Peace & Love always,
Jeri Maier
http://boomersint.org