November 27, 2011
Nicole Gelinas is a City Journal contributing editor and a fellow at the Manhattan Institute Aging members of America's middle class worry about retirement, and for good reason. When the TV talking heads aren't reminding us about plummeting house prices, they're speculating about not whether but by how much politicians will cut Social Security and Medicare benefits. And the financial and economic crises of the last several years have left the country 10 percent poorer, obliterating $6.1 trillion in wealth, a healthy chunk of which was in retirement savings.
November 20, 2011 |
Baby boomers fully embraced the stock market by riding its ups and downs throughout their peak income years. But now that the oldest boomers are turning 65, their focus has turned toward ensuring a steady income from their investments. And they're likely to find the answer is to put money in bonds rather than stocks, as recent market volatility shows. Broadly diversified bond mutual funds have provided investors an average annualized return of nearly 5.6 percent over the last five years.
November 11, 2011
In the Region A.C. casino revenue falls yet again For the 38th consecutive month in October, Atlantic City's casinos brought in less gambling winnings than they did a year earlier. The city's 11 casinos saw their winnings in gambling slip to $262 million last month from $284 million in October 2010, a 7.9 percent slide. Only the Borgata and Resorts Casino Hotel had better results than a year earlier. Trump Plaza and the Golden Nugget - which was known as Trump Marina until May - were the biggest losers at 30 and 28 percent, respectively.
November 3, 2011 |
Facing diminished job opportunities and heavy student-loan debt, today's 20-somethings may be more downwardly mobile than their parents. That's the grim news from a new study, "The Economic State of Young America," released Wednesday by a progressive think tank called Demos, and a youth-advocacy organization known as the Young Invincibles. Making things worse for young people is the recession and its dismal aftermath. "The Great Recession has intensified the impact of 30 years of negative economic trends across young Americans' lives," the Demos report says, adding, "Almost all young people make less than the previous generation at the same age. " The report also includes the results of a national poll of young people showing that 48 percent of the millennial generation (born between 1977 and 1993)
October 27, 2011 |
WASHINGTON - Many baby boomers say that they're likely to stay put in retirement amid a shaky economy. Those who hope to buy a new place are looking for a smaller home somewhere with a better climate that's more affordable and close to family, a new poll finds. The 77 million-strong generation born between 1946 and 1964 is increasingly worried about retirement and their finances in light of the economic crisis of the past three years. Just 9 percent said that they are strongly convinced they'll be able to live comfortably when they retire, according to the Associated Press-LifeGoesStrong.com poll.
July 31, 2011 |
WASHINGTON - The "golden years" may lose some luster for many baby boomers worried about the financial pressures that come with age. Many of the nation's 77 million boomers are worried about being able to pay their medical bills as they get older, a new poll finds. The concern is so deep that it outpaces worries about facing a major illness or disease, dying, or losing the ability to do favorite activities. Another major concern among the boomers: losing their financial independence.
July 14, 2011 |
WASHINGTON - Baby boomers say wrinkles aren't so bad and they're not that worried about dying. Just don't call them old. The generation that once powered a youth movement isn't ready to symbolize the aging of America, even as its first members are becoming eligible for Medicare. A new poll finds three-quarters of all baby boomers still consider themselves middle-aged or younger. That includes most of the boomers who are ages 57 to 65. Younger adults call 60 the start of old age, but baby boomers are pushing that number back, according to the Associated Press-LifeGoesStrong.com poll.
July 10, 2011 |
You were expecting maybe Lawrence Welk? This month, AARP launched a streaming Internet radio service on its website that's designed to help the organization's gray and graying membership stay clued in about what's happening in popular music. And the surprising thing about the 18-channel service, which is free for members and nonmembers at www.AARP.org , is that it's by no means merely a stodgy service meant to soothe senior citizens as they ease their way into a Sinatrian senescence.
June 22, 2011 |
Dusk was settling in as five women began their ramble down a country road and around a small lake. The walk was initially silent and contemplative, yet still remarkably companionable. After some stretching and deep breathing, the women made their way to life coach Patricia Osborne's Medford house, nestled in the woods. There was a pause for wine and cheese, and then the gathering's most important element - conversation. The women, part of a group that labels itself "Boomer Chicks," were ending a series of monthly gatherings that had begun in January to explore more of what it means to be part of that vast bulge in the population born between 1946 and 1963.
June 1, 2011 |
NEW YORK - Baby boomers are swelling the ranks of online dating sites, and John Valentino is a happy veteran. At 57, after a decade of pushing profiles and awkward meet-ups with strangers, he's married to 54-year-old year Debbie, a former Marine he met online two years ago. "I had plenty of lemons before lemonade, believe me," said Valentino, a furniture salesman in Long Branch, N.J. One prospect said he was too old. Another went out...