The pressure for baby boomers is on the rise. In t2005, president Bush gave a State of the Union speech that nudged baby boomers into a financial panic. They need to find a new way to manage their retirement money along with the every day cost of living.
In his address, Bush said that Americans 55 and older would not have to worry about the social security safety net, even though the nation's retirement plan was going to get a complete overhaul. No guarantee was mentioned about people born in 1950 or after. There were and still are people with young adults who need college tuition paid. There was and still are people who have mortgages that need to be paid as well as the every day cost of living. Baby boomers are under a lot of financial pressure.
Baby boomers have new ways to manage and save money. Regifting is one way. Although some may feel guilty for doing so there are some that would argue that its not, considering the way the economic down turn has pressured the baby boomers. There is free tax preparation services, less expensive pharmacies on line, and many more services that will help boomers save money.
Moving overseas seems to be the most beneficial. In Korea, the cost of living is significantly lower. There is often extra money left over to invest. Sometimes, there is even extra cash left over to travel as well. Perhaps we will see more baby boomers leaving the US than staying.
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