Baby boomers long to retire, but can't

The following is a brief excerpt from a great article we can all relate to via Freep.com
by

SUSAN TOMPOR

Part 2 Of 3

• Part 1: Millions of Americans confront uncertain futures

• Coming Tuesday: Accommodating older workers

The sad reality is that many members of the baby boom generation are shell-shocked from their recession-related financial losses and have no idea what kind of shape they are in for retirement. The numbers aren't going to add up for them, forcing them to keep working or undergo a drastic change in lifestyle.

"I would love to be able to retire," said Valerie Kindle, 60, one of the 76 million people born from 1946 to 1964. "At this point in time, I can't afford to."

The 2008 recession hit baby boomers right on the brink of retirement age. Kindle, an employment and training specialist for Michigan Works! in Highland Park, said that as painful as it may be, boomers have to take stock of their situation.

"If you don't have a defined pension, your 401(k)'s going up and going down, so how do you know how much you'll have to operate with?" she said.

Her situation is illustrative for boomers on several fronts.................

Read more: Susan Tompor: Baby boomers long to retire, but can't | freep.com | Detroit Free Press http://www.freep.com/article/20100913/COL07/9130381/1001/news/Baby-boomers-long-to-retire-but-cant#ixzz0zPwA1240