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Boomers to tread well-worn path

By JAMES PETTICAN / GUEST COLUMN
Published April 29, 2007

The new kids on the retirement block are arriving amid much fanfare and generous helpings of folderol.

From the standpoint of 87 years on this minor planet, it appears to me that nothing is new about these so-called baby boomers except their sheer numbers. That, however, has been enough to set off a tidal wave of predictions of rough waters ahead for government entitlements and sky-is-falling forecasts of the boomers' sociological impact.

Meanwhile, we octogenarians and our elders, the nonagenarians and centenarians, are feeling a bit ignored these days as the boomers take over the spotlight. We are, however, selfish enough to relish the fact that, according to the experts, the boomers may wreak havoc in the system because of their numbers and therefore never have retirements as "comfortable" as ours.

The economists and the bean counters are saying that our generation is, in general, enjoying the most secure retirement in U.S. history, and the retirement slope appears to be all downhill from here.

Still, the media tend to glamorize the now-turning-60ish boomers and all the great things they are going to do. One gets the impression that the new arrivals are about to remake the retirement scene.

As a member of the "older" generation, I have to caution all the younger folks to slow down the hype and remember that the boomers are just like the rest of us after all. When they retire, they will do everything from play golf to explore Antarctica. I know, because I did the latter while quite a few of our neighbors did the former. Trips to the antarctic are rather expensive, but I figure that over the years, the neighbors spent even more in pursuit of a little white ball.

If members of my generation are feeling generous and cooperative, they will probably give the boomers they meet a few tips on the strategies of retirement.

We could, for example, teach them about those kindhearted folks who send them luncheon invitations once or twice a week that include not only lunch (sometimes even dinner), but advice on how to invest their nest egg - in whatever the meal-giver is peddling, of course. Usually, you're better off to eat at home and Google all you ever wanted to know about protecting your nest egg.

Dining out will require boomers to learn the strategies taught in Early Birding 101. It may be more complex than they think, as not all early-bird dining is created equal. Then there's the matter of coupons, from two-for-ones to percentage-off types and how to use them to your best advantage.

Watch out for "free vacations" also, as they often turn out to be anything but. "Free" is a word with many complexities and should always be a warning for the unwary.

The boomers, because of their numbers, will do all the things we've already done, but they will do them on a bigger scale. They will spoil more grandchildren and they will travel more. Some of them will become serious travelers while others, often forced aboard cruise ships by the wishes of a spouse, will come back from voyages and forget the name of the ship they were on.

Boomers, like the rest of us, will learn that time appears to speed up as they slow down. This is not true under the laws of physics, but the view from Codgerland often seems that way.

If I were "young" and a boomer just easing into the retirement world, my chief concern would be: Will we or will we not bankrupt our federal entitlements? Only time and the federal budget will tell.

Meanwhile, see that your nest egg gets your special attention.

Retired journalist James Pettican lives in Palm Harbor.

[Last modified April 29, 2007, 07:56:54]