Baby Boomer News
Apr.11, 2010
Designing Women Star - Dixie Carter
LOS ANGELES, Calif. (AP) — "Designing Women" star Dixie Carter, whose Southern charm and natural beauty won her a host of television roles, has died at age 70.
Apr.11, 2010
Babyboomers - The banker for next generation
Mortgage lending has been taken back to the future due to the present credit crunch says Di Bain in a recent article for ABC Bews. It is like 1980... where if you had cash with a good history with your bank, then you might get a loan. But the children and grandchildren of baby boomers have to do it the old fashionedway and save. A recent study of the mortgage industry in Australia shows that banks are changing their lending criteria. First homebuyers have to save 20 percent of the purchase price of the home. Banking analyst Martin North says that borrowing from parents is the onlyway many young Australians will be able to buy a home. "One of the trends we're now seeing is the baby boomer generation - who have the equity in the properties and all of the assets - are actually now using some of that to effectively kick-start the next generation, so they're actually giving or lending at low rates to their offspring," he said. Baby boomers say that their children are already knocking on the door.
Apr. 9, 2010
FA NEWS
SOCIAL SECURITY MAY BE RESCUED BY BABY BOOMERS
(Dow Jones) Federal Reserve Chairman Ben Bernanke Wednesday urged the government to tackle the challenge of funding Social Security. But here's an idea: Baby boomers, the generation expected to overwhelm the program, may be the workers to save it.
One assumption for the Social Security outlook is that boomers will retire at roughly the same rate as prior generations, lifting the ratio of retirees to workers. According to Social Security projections, there are about 20 retirees for every 100 workers in 2010; by 2030 this elderly-dependency ratio will hit 35. A high dependency rate means the fund will begin paying out more in benefits than it collects in taxes by 2016. The fund's reserves will be depleted by 2037.
The assumption about boomer retirement rates, however, may be flawed. Already, older workers--those 65 and older--are staying in the labor force in higher proportions than before. Data from the Bureau of Labor Statistics show 17% of the senior population is in the labor force, up from about 12% in the 1990s.
Mar. 31, 2010
By Jan Yager, Ph.D.
ConsumerAffairs.com
Our younger years were defined by protests, free thinking, changing the world, and, for some, by free love. But by 2006, a U.S. Census Bureau analysis that looked at the 78 million Baby Boomers just as the first of us turned 60, found that 65.6% were in traditional marriages, 17% were divorced, 3% separated and 2.7% were widowed. Only 11.7% were single and never married.
What this means is that being, or trying to become, a couple may define the lion’s share of “Boomer love” today but there are certainly millions of single Boomers who are either still looking for love or relying on friends and family for their close connections.
Mar. 29, 2010
The millions of baby boomers flooding across the age marker that signals they are a senior citizens – the age of 65 – will be pleased with news from Social Security that you can now register for Medicare benefits online, if you are not ready to also sign up for Social Security. Patty Duke and the cast of her 1960s sitcom, The Patty Duke Show, are helping spread the word.
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