Retirement age n the traditional belief is that once a person reaches the retirement age, they belief that once you reach the age of retirement, you can no longer work but just rest at home. They believed that pension is what would keep them moving for the rest of their lives and since the income they receive do not allow for major expenditure, they used to cut costs and maintain their lifestyles at a very low key. Medigap Plans cover deductibles and coisurance for Seniors’ Medicare.
However, Baby boomers have reversed the whole idea and they are economically active driving the American economy more than any other age group. Baby boomers have completely rejected to stay at home spending the only savings the banked when they were working and have been busy putting up investments not only for themselves but have also included their children and their aging parents who cannot provide for themselves. By doing this they are considered to be a generous generations because of the support they offer to their families.
The dreams, passion and great ideas that have positive influence to the society make them more energized because they offer employment opportunities to the youth to boost their livelihood though the huge investments that they have put in place after retirement.
From the studies about the boomers, it has been established that they make incomes more than what they used to make while working and exceed even those of the coworkers whom they have left behind.
They are also believed to spend a lot of their leisure time doing home improvements, gardening, house cleaning and this also becomes a cost saving plan because once indoors, they do not overspend rather they keep improving their lifestyles. By doing this, they plan to have some offices in their homes such that when they are not capable of travelling to work, they can still work from the house through delegation and ensuring that work is still flowing even when they are physically absent from the main office.
Boomers do not believe in growing old and in this sense, they have decided to be called senior citizens and have continuously build the nation by opening new businesses and expanding to different branches in different cities. Finally, the most exciting part is that they account for each activity they are engaged in to ensure that they do not operate on a loss making venture so that they can have enough to spend and to share out with the loved ones.