We’ve been doing a lot of thinking about effect what the current financial crisis is having on Boomers--beyond the “duh” that everyone is pulling back, planning to retire later, and planning on spending less this holiday season.
And
interesting report from Thrivent Financial “Boomers Beleaguered but Still Optimistic about Financial Well-Being”, fielded October 20-23, (which of course is so “yesterday” when it comes to the financial crisis, where things seem change hourly.)
Anyway, this survey claims that more than half (54%) of Boomers surveyed expect they “will have to delay their retirements as a result of market volatility.” And that they will cut back on holiday spending, giving to charity, and holiday travel plans.
But of interest, with all the doom and gloom, only 12% claim to have lost sleep over their evaporating nest eggs. Maybe it’s because this survey was taken in October, still early in the game. Or maybe we’re all still asleep and think we’ll wake up and see this was only a bad nightmare.
For me, I’m part of the 11% who are “stuffing themselves with comfort food” to deal with the stress. Will “The Boomer Workout” be the next hot product, to help us deal with all this stress eating?
What do
you think will come out of the financial crisis? Would love to hear from you.