About 20 percent of Americans who are nearing retirement age have delayed calling Social Security and few are fully retired. Only a very small amount has enough saved and many are concerned with health care coverage. About 60 percent of older baby boomers will continue working at least part-time in order to keep their health insurance and to make ends meet. Many feel obligated to provide assistance to their children and grandchildren, jeopardizing their own financial stability.
The younger group of baby boomers, also known as Generation X, would like to be able to retire by age 65, though they are not eligible for full social security benefits until age 67. Only about 1/3 believes their retirement plans are on schedule to provide financial stability for their retirement years.
With the condition of our economy, people nearing retirement age are limited on time to play ?catch up? and recover financially while the younger group really needs to focus on saving more. Too many people are dipping into their retirement savings to help support their adult children and grandchildren.
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Baby Boomers And Generation X
Women are more likely than men to be depressed. Perhaps this is related to the hormonal changes that women endure, both in a cyclic nature and with aging. Some women suffer with depression after the birth of a baby. This is not to be confused with baby blues. True depression goes much deeper than the normal baby blues. Persons suffering with depression will experience changes in appetite as well as sleep patterns.
People with depression often feel exhausted and fatigued; they may lose any drive or motivation for things that they once loved. The fatigue will continue and often escalate to the point that problems arise in relationships and on the job. In many ways baby boomers are particularly vulnerable to depression.
Baby boomers are in a unique situation. They were born during a time that the economy was booming. Many have strived to create wealth and success in their life. They have lived through changing and erratic times.
Baby boomers have seen the trends change from most wives and mothers staying home to the other extreme that it is rare for a family to survive on one income. They have dealt with the debates related to placing their children in public schooling versus private or homeschooling.
Baby boomers have struggled with issues related to possible guilt associated with making those choices as well as others related to child raising. All parents want the best for their children but baby boomers have pioneered the way in many instances.
Additionally, many baby boomers are dealing with aging parents while still assisting or raising children. Baby boomers are known as the sandwich generation for that reason. They are caught in the middle of children and parents that need assistance in some way.
It seems that baby boomers have come to accept that dealing with fatigue and stress is a way of life. But chronic fatigue can escalate and result in other problems. It is not uncommon for depression, thyroid disease, or sleep apnea to be the end result.
Although most depression starts because of a stressful situation the symptoms may be somewhat vague at first and only overtime have a cumulative effect. The first step to depression recovery is the recognition that there is in fact a problem that needs to be addressed. The next step is seeking help.
Both Michael S. Mcgee & Debbie Allen are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Michael S. Mcgee has sinced written about articles on various topics from Generation Y, Finances and Children. Michael S. McGee provides financial planning, retirement planning and financial advice everyone, including average people who work hourly rate jobs, small business owners, self-employed entrepreneurs, affluent individuals, corporations, associations and f. Michael S. Mcgee's top article generates over 1600 views. to your Favourites.
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