Are Baby Boomers Ready for Retirement?
Baby boomers are defined as Americans who were born between 1946 and 1964. The oldest baby boomers reach age 60 in 2006, and may be thinking about retirement. They will be eligible to use the money in their 401K retirement pension plans without paying a penalty to the IRS. What do baby boomers want for the future? And what are some of the issues that baby boomers should consider as retirement approaches? Nancy Schlossberg, Professor Emerita of Education at the University of Maryland and creator of TransitionWorks, has written extensively about retirement planning, an issue that many baby boomers are thinking about as they reach retirement age. In an interview, Professor Schlossberg offered her observations about boomers and retirement…and some advice. Q: Are baby boomers ready for retirement? Schlossberg: Some are and some aren’t. I think that baby boomers will continue to work for money and for other
