Categorized | Residential

More Baby Boomers Postponing Retirement Due to Housing Crisis

Please Share!

With the value of houses still in a deep depression, a number of baby boomers have to re-consider their retirement plans. What once seemed to be a guaranteed plan of action is now as uncertain as ever. Baby boomers are now second-guessing the ideal retirement age, as they struggle to pay their bills each week. Many are taking on second and third careers, despite being in the fifties and sixties.

Just five or ten years ago, many baby boomers were putting their money into investments that were seemingly guaranteed to be lucrative. However, as the housing market and economy continue along their terrible decline, those investments have resulted in retirement money being lost. Furthermore, rising medical costs and cuts in Social Security have also had a negative impact.

While there is hope that the housing market will one day go back up, it doesn’t appear likely that it will do so before many baby boomers hit retirement age. It is for that reason that many are looking at going back to work instead of retiring. Many industries, including education, have offered incentive packages to encourage baby boomers to retire. However, that still hasn’t stopped many from returning to work, as they would not be able to survive and pay off their bills as a result of the housing downturn.

No longer is it viable to dream of retiring to an exotic country, or even just locally. Rather, more and more baby boomers are back to looking for work in hopes that they’ll be able to continue being able to simply get by.

Please Share!

About Josh Johnson

Josh is the main writer for the Residential category. He also helps out on other categories when needed, mainly the International section.

Leave a Reply

Twitter Chat