Boomers Will Transform Retirement

MetLife’s “The MetLife Report on Early Boomers: How America’s Leading Edge Baby Boomers Will Transform Aging, Work & Retirement” suggests that the oldest Boomers will forego the traditional leisure-filled retirement in order to continue working — possibly indefinitely. Many Boomers are struggling under debt from putting children through college, others have suffered financial setbacks through the economic crisis, some have purchased second homes, and due to a longer life expectancy, many fear they’ll outlive their nest eggs.

Many older Boomers face a favorable employment outlook because they have many years of experience, and they’re attractive to employers who realize that they won’t have to provide health insurance coverage to Medicare-eligible workers. This transition to a new model of retirement will mean significant changes in the long-term care industry.

Unless they become sick enough to require round-the-clock care, many boomers will opt for long-term living options that allow them to remain independent and continue working. Aging in place may become more popular as seniors opt for services that can provide care in the home.

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