Boomer News

Welcome to this weeks addition of the Boomer News.

 Boomer Finance:

• Retirement survey indicates that 15% of those who own their own business will continue to work in their business until they die.  22% of men and 14% of women who are currently over the retirement age are self employed.  If you are in your 50's or older consider starting your entrepreneurial stage of life.  If you are so inclined, start while you are still employed and don't borrow if you can help it – keep the debts down.  Continue to work until you have one years expenses saved and are earning more that you are currently earning with your job.
• Protect your identity by locking your credit reporting agencies.

Boomer Family:

• Characteristics of Baby Boomers according to a Survey by the American Consumer:
  • 55% vote
  • 10.8% undertook home remodeling
  • 41% play the lottery
  • 35.6% live in household with 3 or more vehicles
  • 39.1% believe they will be better off financially in a year
  • 23.3%  have no personal medical, hospital or accident insurance
  • 42.4% exercise at least twice a week
  • 40.7% feel it is important to preserve the environment
  • 21.7% signed a petition in the last 12 months
  • 14% own a giant TV – greater than 42"
• Motorcycle ownership has increased between 1990 and 2003 by 44% among Baby Boomers compared to 6% among all other groups
• Single females are joining together to share expenses and emotional support.  Not many males are doing the same.
• Costa Rica had $26million dollar debt to the U.S. forgiven.  They must spend the same amount on purchasing more rain forest and placing it into their National Reserve System

 Boomer Technology:

• Wellness Mobile Phone is just a prototype at this time.  However it can count calories and total them for the day.  It knows when you are walking, running, climbing stairs and resting.  It can take you pulse and measure your body fat.  What will they think of next?
• Blogging is very popular today.  Are Baby Boomers blogging?  According to one survey, 18% of bloggers are Boomers and 3% are over 70 years old.  Consider becoming a blogger.

Boomer Health:

• Europeans are healthier then Americans basically because of our rates of obesity and smoking.  They are healthier and spend about half of what we spend on health.  We need to lose weight, give up smoking and exercise.
• Fish is good for you according to Harvard.  Eating a modest amount of fish consistently per week is associate with a 36% reduction of death from coronary artery disease and total mortality reduction of 17%.
• Vitamin K is important not only for blood clotting but also for binding calcium to bone.  Take your multiple vitamins every day.
• Cheap nursing home care in Mexico.  One gentleman for example was spending $550 per month for room, 3 meals a day and 24 hour nursing care.  For an additional $140 a year he got complete health insurance including drugs.  Be sure to investigate before you buy.
• Particularly for parents of overweight children it is recommended that they:
  • Have frequent healthy family meals
  • Encourage positive atmosphere during meals
  • Promote physical activity
  • Build self esteem in their children

For more information listen to the podcast.