Four ways boomers will (still) reinvent retirement

By Danielle Andrus

Commentary February 25, 2010 at 07:00 PM

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The latest analysis of how boomers will reinvent retirement comes from U.S. News and World Report. The magazine offers 10 ways boomers' retirements will differ from their parents. Some highlights:

Managing investments. With fewer employers offering traditional pensions, more boomers will resort to managing their own nest eggs through retirement, including how much risk to take on, how to beat inflation, and how to make sure they don't live longer than their savings.

Part time jobs. Boomers' parents stopped working when they retired. Boomers, on the other hand, will stay in the work force after they end their careers. Whether that's because they need the income or the mental and social stimulation depends on how good of a job you do.

Marc Freedman, founder and CEO of Civic Ventures points out that moving into a second career after retirement might require new training. "It might be smart to make an upfront investment in education or do an internship," he told U.S. News. "Recognize that you are investing in a career that might be 10 or 25 years in duration."

Sandwich generation. Some boomers are trying to pay for college and caregiving, all while balancing their own retirement.

Retiring with debt. Approximately 63 percent of boomer households still owed money on their home, credit cards or other debts in 2007, the magazine writes. Boomers who head into retirement still paying off debt will have less for discretionary spending.

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