Traditionalists
Overview Of Financial Concerns
Financial issues
- Retirement
- Long-term care
- Managing income and expenses
Whereas retirement once was a time of passiveness, today, it is a time of growth and adventure made possible by the opportunity to explore interests that could not be developed with commitments to work and family. Retirement is a transitional time for Traditional Generation employees, who are beginning to identify themselves not in relation to their occupational role but by their personal interests and social relationships.
The implied contract between workers of this generation and the company that would support them for life is eroding, and older workers and retirees find they need to increase their income or make sometimes difficult decisions on how to spend their money. Ensuring long-term care arrangements and maintaining a delicate balance of eligibility for federal aid present other significant financial concerns for this group. With many organizations terminating retirement benefits in an effort to contain expenses, many older workers and retirees find they must remain in or return to the workplace to earn income, maintain affordable health care coverage and cover gaps created by inflation and reductions in federal benefits and private pension or retirement funds.
ValueOptions"Traditional" The Traditioinal Generation Born [1922-1945]What Is “Retirement”? Three Generations Prepare for Older Age 19th Annual Transamerica Retirement Survey of Workers, Transamerica, Apr. 2019, http://www.valueoptions.com/spotlight_YIW/traditional.htm
Main Topics
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