Wednesday, September 23, 2009

Going Broke Caring for Aging Parents

September 18, 2009, 11:15 am
Going Broke Caring for Aging Parents
By Tara Parker-Pope

About 30 percent of adult children in the United States contribute financially to their parents’ care for everything from uncovered medical expenses to making sure the refrigerator is stocked each week, writes Walecia Konrad in today’s Patient Money column. But in the face of longer life spans and chronic illness, the costs of an aging parent can mean financial peril for the rest of the family.

Monday, September 14, 2009

Boomers Retirement.

I have been so busy with real estate business as well as my part time consulting in IT field. I just saw that the last time I updated this blog was in March 2009.

I think may be it is in keeping with the time. Boomers Retirement is oxymoron. boomers can not afford to retire even if they reach 62 and are eligibla for Social Security. Younger boomers who are in their 50s definitely still need to work.

More boomers and seniors are putting off retirement and many work not because they want to but because they have to.

According to Paul Taylor, executive vice president of the Pew Research Center, "Four in 10 folks still working in their 60s say they will have to delay their retirement because of the recession,"

The new report also stated that during the next decade 93 percent of the growth in the U.S. labor force will be made up of people 55 and older.

Here is the link to the article:

Recession Turns a Graying Office Grayer
America’s Changing Work Force

September 3, 2009

According to the Pew Research survey, nearly four-in-ten adults who are working past the median retirement age of 62 say they have delayed their retirement because of the recession. Among workers ages 50 to 61, fully 63% say they might have to push back their expected retirement date because of current economic conditions