Top News From Today's "Boomiverse"
More boomers filing bankruptcy
Vinnee Tong
The Associated Press via Daily Southtown
April 27, 2007
Overview: Tong discusses boomers and bankruptcy trends. Specifically, he reports, “Americans older than 55 are filing for bankruptcy at a faster rate than the general population as growing mortgage debt and higher health care costs make them more vulnerable, a new study shows.” Morever, “The trend of rising bankruptcies among older Americans is likely to continue for the foreseeable future, according to the study's authors, John Golmant and Tom Ulrich, researchers at the Administrative Office of the U.S. Courts.”
http://www.dailysouthtown.com/business/360108,271BIZ5.article
Peace Corps redefines itself to appeal to Baby Boomers
Marsha King
The Seattle Times via The Grand Haven Tribune
April 26, 2007
Overview: King reports, “The Peace Corps is reshaping its youth-focused culture as part of a national push to attract retirement-age volunteers. Almost every facet of the federal agency will be affected — from recruitment messages and medical screening, to language training and country placements.” Additionally, “Baby boomers are a ‘very rich American resource,’ mature, highly skilled, educated and willing to give back to society, said Ron Tschetter, newly appointed Peace Corps director.”
http://www.grandhaventribune.com/paid/289707259606941.bsp
Baby boomers 'rarely seek advice'
Scott Sinclair
Ifaonline.co.uk
April 27, 2007
Overview: Sinclair reports on research findings from Halifax Financial Services. He reports, “Three in ten so-called baby boomers have never seen a financial adviser, research from Halifax suggests. A third say they do not have enough information and understanding of their savings and investment options while a fifth of those who have seen a financial adviser have not done so in the past five years. In addition, the Halifax Financial Services research found almost a quarter of boomers will be relying primarily on a final salary scheme for their income in retirement while 70% will rely on a state pension for at least some of their retirement income.”