Boomer Women Plan To Spend Retirement "Giving Back"

The New Retirement Survey by Merrill Lynch gives us all an insightful look at what we can expect from the boomer generation during their retirement years. Surprisingly, the generation that has been widely known for their self-centered ways responded that they plan to focus their time and efforts during retirement towards others and causes that they are passionate about.

Consider the following information about boomers as reported in the New Retirement Survey:

• 67% state that continued mental stimulation and challenge is what will motivate them to continue work as opposed to only 37% who cite continued earnings as the reason they plan to be active in the workforce
• Boomers are now ten times more likely to “put others first” than “put themselves first”
• Boomer women are better educated, more independent, and more financially engaged than any generation in history
• Married boomer women are more than six times more likely to share responsibility for savings and investments compared to their mothers’ generation
• Boomer women view their empty nest and retirement as an opportunity for career development, community involvement and continued personal growth