the Laughing Boomer

Hi: 

A new report, commissioned by HSBC and conducted by the Oxford Institute of Aging covers a number of significant findings in its Future of Retirement Survey. The interviewed 21,000 people from 40 to 79 years of age in 21 mature and transitional countries. They claim it is the largest survey of its kind, and compares the experiences of those approaching retirement. It looks at their expecations and then examines the reality.  I'll be reviewing a few of these key findings over the next few blogs.

Hi:

Well, the description "growing bolder" is how many boomers feel.   They are adding expansions to their homes, going on longer trips, buying high-end electronic equipment.  Some are throwing caution to the wind as they sail out in their new boats, new homes, new recreational vehicles.

One boomer couple I know have left their jobs for a year and sailed down the west coast to Mexico. They holed up for the winter there, and I'm sure it was more enjoyable than the rain, snow and wind they left behind.

The median age for retirement in Canada between 1997 and 2001 is 60.8 years.  Self-employed people still work until 65, and private employees work until 61.7 but the big winners in the retire-early sweepstakes are public sector employees, retiring at 57.6. Only 7% of people work until age 70.

Hi:

People often use transition and change in the same breath. They are similar, in that both words imply moving to a different place, but there are also differences. A change often is very quick, where a transition suggests a slower process.

A transition is implemented over a period of time. It seems to evolve, and it might be that the end destination is not known. The steps are taken one by one down a path, and when you get to a point farther along the path you might stop and stay there, if you like, or move along. Eventually you stop where you want.