Boomer

Baby Boomer Impact: Social Security Deadline Extended as Seniors Choose to Work Longer

CHICAGO, Illinois – As the Baby Boomer generation continues to influence various aspects of society, one area where their impact is particularly pronounced is the Social Security program. Reports regarding the upcoming insolvency of Social Security have been circulating for years, with a projected deadline of 2034. However, recent developments suggest that this deadline may not be as imminent as previously believed, potentially even being extended by a year. The chief actuary of the Social …

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Retirement Wealth Gap Widens Among Baby Boomer Generations After the Great Recession

Investors in Manchester, England have had a rollercoaster ride in the financial markets due to the impact of the Great Recession from December 2007 to June 2009. During this turbulent time, individuals saving for retirement experienced a significant decline in their 401(k) plans and other investment accounts. The economic downturn forced many Americans to make difficult decisions regarding their retirement savings. Some chose to withdraw funds from their accounts, even at the cost of penalties …

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Small Businesses Transitioning: The Great Boomer Business Sell-Off Underway

As more baby boomer entrepreneurs in the United States retire, a significant shift in small business ownership is taking place. The “silver tsunami” of boomers selling their businesses is not only a trend but a reality that is already in motion. Economic disruptions due to the pandemic, inflation, and higher interest rates have added further uncertainty to the situation, impacting both buyers and sellers in the small business market. According to a study from Forrester, …

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Peak 65: Unprepared Baby Boomer Retirees Risk Living in Poverty, Study Finds

Boston, MA – As the nation approaches a significant demographic milestone with the arrival of “peak 65,” the implications for retirement readiness among younger baby boomers are becoming increasingly apparent. A recent analysis highlights the financial unpreparedness facing many Americans as they reach retirement age, painting a concerning picture of potential poverty among this cohort. The retirement of the youngest baby boomers, born between 1959 and 1965, is expected to have a profound impact on …

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