Top News From Today's "Boomiverse"
Boomers ready to downsize; Home sales trends; Ageing population tapping into home equity
Rosemary Mccracken
National Post
April 3, 2007
Overview: McCracken reports housing industry trends among Canadian boomers. She writes, “The Boomers may be planning to tap their equity, perhaps moving to smaller homes, but the home financing industry is confident they will remain in the housing market and many will require home financing for years to come.”
http://www.canada.com/nationalpost/story.html?id=d78068e1-2add-429f-9748-041a84806411
More people over 55 are working 9 to 5; A rising segment of the state's baby boomers can't afford to retire
Maria L. La Ganga
Los Angeles Times
April 3, 2007
Overview: Ganga discusses the growing number of Californians working later in life. According to The California Budget Project, “The proportion of women ages 55 to 69 who were working rose 9.2 percentage points between 1995 and 2006; for men, the increase was 10.6 percentage points. Experts in aging and the workplace called the change significant and said it has been fueled by a complex mix of social factors, good and bad. Longer lives and better health mean people are physically able to work longer. A diminished retirement system and a sharp rise in baby boomers who feel financially unprepared to swap briefcases for golf bags mean that many will be forced to work longer.”
Report: Baby Boomer execs are making late career switches
San Jose Business Journal
March 29, 2007
Overview: This article focuses on a study from Korn/Ferry International finding that out of 270 international recruiters, baby boomer executives are looking for a different profession later in their careers. The study found, “Leading reasons for executives to re-career, according to recruiters, are boredom with retirement (22 percent), a sense of productivity (21 percent) and intellectual challenge (20 percent). Other motivators include insufficient retirement savings (13 percent) and the need for personal interaction with others (13 percent).”
http://milwaukee.bizjournals.com/sanjose/stories/2007/03/26/daily58.html