Artie Bernaducci

Baby Boomer Retirement Road Map Artie Bernaducci

Today, millions of Americans in the "Baby Boomer" generation are approaching retirement with more opportunities and more challenges than any previous generation. Our parents and grandparents often retired after long periods of employment with a single employer or having made very few job changes during their lives.

So, when retired, they could often rely on a Social Security benefit backed up by a healthy pension from their employer. Typically, they would live only a few years after retirement--and usually, they would be able to do this without major financial worries. Even if they didn't quite live a luxurious lifestyle, they could often expect to be comfortable for the remainder of their golden years. Today, however, we face a very different set of circumstances. The way we live, work, and plan our finances has changed--in some cases, significantly.

Now:

- We are living longer.

- We are enjoying a more active lifestyle in retirement.

- We expect to maintain a good standard of living in retirement.

However, there are also some substantial tradeoffs, such as:

- Traditional pensions are disappearing.

- Market and economic boom and bust has left people scared and confused about investing their hard-earned money.

- Health care costs are rising.