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Baby boomers just want a quiet life
Calcutta News.Net
Friday 10th October, 2008
Britain's post-war baby boomers want to retire in the traditional way.
The first of the baby boomers are often acknowledged for being the primary age group that experienced the social change of becoming a more prosperous consumer society following the effects of Great Depression and World War II.
Yet, according to an academic research supported by the Economic and Social Research Council and Arts and Humanities Research Council, they want to spend their retirement days conventionally either travelling or using second homes or by watching TV, playing records or taking long walks.
The study further found that most people hoped to maintain their present lifestyles and activities, if their health and finances allowed them to.
The research also showed that the familial responsibilities of the baby boomers have increased rather than reduced with 43 per cent, born between 1945-1952, having at least one child living at home while 37 per have financial responsibility for other members of the household, usually children.
They displayed a shifting change towards inheritance, where according to the study, with more aging groups wanting to enjoy life with their wealth rather than be bothered about leaving their inheritance.
33 per cent of boomers owned their homes outright and 52 per cent had mortgages, while 15 per cent had second homes.
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