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Boomers and Retirement
artkoff
subscriber Posts: 1
Boomers
will find that they must continue to work in some capacity after
"retirement". They will either start their own business or find
part-time, temporary or project employment. The primary reason is the
huge cost of out-of-pocket health care expense.
A couple retiring in 2007 at 65 will spend on the average $242,000
out-of-pocket on health care betrween now and the end of their
combined lifetimes. By the time most boomers retire this will be
substantially more. These costs include Medicare premiums, supplemental
insurance premiums and prescription drugs and all other health care
costs not covered by Medicare or insurance.
Boomers should be planning NOW for this eventuality. Talk with your
current employer. check out business you might consider starting, look
at job boards for older workers like RetiredBrains.com
will find that they must continue to work in some capacity after
"retirement". They will either start their own business or find
part-time, temporary or project employment. The primary reason is the
huge cost of out-of-pocket health care expense.
A couple retiring in 2007 at 65 will spend on the average $242,000
out-of-pocket on health care betrween now and the end of their
combined lifetimes. By the time most boomers retire this will be
substantially more. These costs include Medicare premiums, supplemental
insurance premiums and prescription drugs and all other health care
costs not covered by Medicare or insurance.
Boomers should be planning NOW for this eventuality. Talk with your
current employer. check out business you might consider starting, look
at job boards for older workers like RetiredBrains.com
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Comments
Many boomers want to keep working often well into their 70`s and even 80`s.
However employers faced with the substantial increase in health care
insurance are generally not in a financial situation that allows for a
larger number of seniors to be part of their workforce.
That is why many older workers are being and will be hired on a
part-time or temporary basis or for project assignments. In most
cases employers do not have to pay benefits for these types of
employment.
Boomers should certainly start a dialog early on with their employer
regarding the best ways they can continue to contribute as they reach
retirement age. Employers interested in keeping their employees will
usually work out something that is mutually beneficial.
I WANT TO BUILD A UNION OF BOOMERS IN AUSTRALIA TO PROMOTE THEIR POTENTIAL FOR EMPLOYMENT AFTER COMPULSORY RETIREMENT. HOW SHOULD I GO ABOUT DOING THIS?
SHOULD I PLACE AN AD ONLINE?