9 Ways to a More Rewarding Retirement

Above, RV travel is one way to enjoy retirement.

As time goes on, retirement is on the horizon for more of the baby-boomer generation. As we move deeper in years, more baby boomers are starting retirement. The baby boomer generation is usually defined as people born from 1946 to 1964 (following the end of World War II).

I retired early eight years ago. I figured I'd better retire while my health was still excellent. It was a good thing that I did, as I had a heart issue crop up three years after retiring.

RisMedia has a list of nine ways to a more rewarding retirement, some of which I am doing.

They begin with:

No matter how long you’ve looked forward to retirement, cleaning out your desk for the last time can come as a bit of a shock—especially if you haven’t thought much about how you will spend your days beyond scuttling the alarm and sleeping in.

But, psychologists say, retirement these days can last for many years, and having a plan beyond the financial can extend it for many more.

To read more, go here. 

Is The RV Lifestyle Right For You?

Above, at Goulding's Lodge Campground near Monument Valley. Photo by Armand Vaquer.

Since the Baby Boomer generation are now in retirement age, figuring out what to do with one's leisure time is uppermost on their minds. 

Many are taking to the highways in their RVs, either full-time or part-time, and enjoying the "RV lifestyle". 

But is the RV lifestyle right for you?

This question is asked by RV Life and there are some signs to look out for.

They begin with:

RV fever is sweeping the nation, especially during the past few years. But is the RV lifestyle right for everyone? Let’s take a look.

Many people are abandoning their homes and apartments and hitting the road. This is a personal choice for everyone. Many RV dreamers now wonder if the RVing lifestyle is the right fit for them. Of course, this is not a one-size-fits-all solution.

Some people feel right at home in an RV, while others can’t wait to get home. If you choose to live in your RV full-time (or at least most of the time), there are a few qualities and personality traits that can help you feel comfortable in this setting. 

The following signs can reveal if the RV lifestyle is a good for you. Ultimately it’s your choice though. If you have a deep love for RVing, you can certainly get by, even if you only have a few of these traits.

To read more, go here. 

Report: RV Demographics Are Changing

Above, Camp Okihi in Kern County, California. Photo by Armand Vaquer.

The old stereotype of RVers is changing. Gone are the days where the dominant age group of RV purchasers were retirees. 

The age of RV purchasers is getting younger and younger.

RV Travel has posted the results of a recent industry report on who are now buying RVs.

They begin with:

The cliché stereotype of retired, snowbirding RVers is long over. Recent data from the IDS 2023 RV Industry Trends Report shines a light on some surprising changes in RV demographics amongst buyers.

The report’s findings are largely geared towards RV dealerships to help make them more aware of their buyers’ changing preferences and purchasing styles. As industry-focused as this data is, it paints an interesting picture of the current culture of RVing in the United States. Here’s what they found.

To read more, go here. 

Baby Formula Shortage of 2022

This topsy-turvy country (and world) has gotten even more insane.

Now it's an infant formula shortage.

I personally know of two people (one is a relative) who have infants. Thankfully, one has a mother who bought two cartons of it months ago (they are probably used up by now).

She told me:

I bought them two cartons of formula a few months ago when she thought I was nuts and being a crazy prepper since no way they wouldn’t have formula.  Of course she also had no idea formula might be needed.  Two boxes of it was $216 plus tax.  And now you can’t even get it even if you could afford it.

How did this all come about?

According to an article in Fortune, there's a lot of factors involved. Two main culprits are the monopoly of the baby formula industry by three companies and the FDA (run by the Biden Administration, naturally). (I had a feeling that Biden was somehow involved.)

They wrote:

A baby formula shortage gripping the U.S. since March has parents in a panic over where and when they’ll be able to find the products they need to feed their kids.

The out-of-stock rate, representing the amount of formula that’s not in stock compared to what’s typically available, was 43% for the week ending May 8, according to Datasembly, a provider of real-time product data for retailers and consumer packaged goods (CPG) brands. 

With no easy end in sight, caregivers nationwide have been forced to devote their free time to driving between stores in search of formula, prompting retailers to limit the number of cans customers can buy. Others have turned to Facebook groups and informal support networks to acquire the nutritional products that work best for their kids. 

“I've looked online, I have my mom in Boston looking, my mother-in-law in Florida looking,” Elyssa Schmier previously told Fortune about her trouble finding formula for her 8-month-old son. “Everyone we know is looking for us and no one can find it.”

How did a baby formula crisis spring up in one of the world’s richest countries? Experts say a recall by one of the industry’s largest manufacturers, persistent supply-chain issues, and a market dominated by only a few players have combined to form what one consumer goods expert calls a “perfect storm” affecting the supply of essential formula to millions of babies across the U.S. And the shortage could last for months. 

Many are digging up old recipes for homemade formula and making their own along with using the old stand-by: moo juice. So-called pediatricians of today are opposed to DIY formulas of yesteryear. They seem to forget that us baby boomers survived it just fine.

To read more, go here.

Best Trips To Take In Your 60s

Above, the list includes ocean cruises for those in their 60s. Photo by Armand Vaquer.

Since most of the baby boomer generation are now in their 60s and retired, there are places to go and things to see.

In 2019, Travel + Leisure posted about places for people in their 60s (I don't know how I missed it). It is in the format of a slideshow.

They begin it with:

According to a  derived from the most recent U. S. Census, by age 63 nearly half of United States workers have retired. That leaves quite a few 60-somethings still at work in either full-time or part-time jobs.

Financial situations vary greatly, from limited fixed incomes to affluent retirees and high earners. Most 60-somethings are healthy and mobile, but others have health concerns that may limit travel or at least require consideration when planning.

The good news is that there are travel opportunities to meet almost every need and interest. That means it’s time to start checking off some of those bucket list items. Or just getting away for some rest and relaxation. Others want adventure and exotic faraway places. Some want to explore the lands of their ancestors, and still others are looking at staycations that finally give them time to see the local spots that tourists visit when they come to their cities and towns.

Our list includes a little of everything, from cruises to train trips to bucket list adventures, so we hope a few of these destinations and ideas will inspire you to get out there and see the world.

To see the slideshow, go here.

T + L: Best Senior Travel Groups

The primary age group of seniors are comprised of the baby boomer generation. There are still some of World War II generation left, but they are fast dwindling in numbers.

For those active seniors who want travel the country and/or the world, there are a number of senior travel groups available to accommodate them.

Travel + Leisure has posted an article on 14 senior-oriented travel groups.

They begin with:

The benefits of travel, whether it's a refreshing weekend getaway or a month-long trip to a new destination, are undeniable. And for retirees or seniors who have time and a travel budget, the opportunities are nearly endless. The world and even their own city, state, or country are waiting to be explored.

It should be recognized that seniors are as diverse as any other generation, perhaps even more so as their years of experience, careers, ages, hometowns, and beliefs have taken them in many directions. Their interests, abilities, values, and habits may be different, but it can safely be said that for many, travel is in their plans. 

Seniors travel to visit family, learn about the countries of their ancestors, or explore new destinations. Many seek immersive experiences, educational opportunities, or adventure. And travel companies are responding to their needs and wishes with tours, from independent to guided options, budget to luxury, and group to individual. 

The 14 organizations listed here are either aimed specifically at mature clients or offer experiences that are flexible enough to accommodate a range of travelers.

To read more, go here. 

Senior Market Projected To See Rapid Growth In 2020s

Above, The Beast at Diamond Lake RV Park in Oregon. Photo by Armand Vaquer.

The baby boomer generation (post-World War II) is entering (in some cases, has entered) their "Golden Years" and marketers are targeting sales to that age demographic.

This includes the RV market.

Forbes has an interesting article on marketing to this age group and here's a snippet from it:

Now look at the population over 65. The growth rate of the 65-and-over population is running more than three times greater than the total population growth rate, and Census Bureau projections have this difference lasting through 2030. With faster growth of the senior population, expect more sales and services to this demographic segment. 

The RV industry is a good example. Although some new units are sold to younger people, the bulk of the market is older people. And over the past five years, annual growth of RV units sold has averaged over eight percent per year. That’s much faster than GDP growth. (Last year saw a small decline in unit sales, probably reflecting higher interest rates and the weak stock market. Even with the 2018 drop, though, the sales growth figures are impressive.)

At a growth average of 8% a year, these new RVers will need campsites to meet that growth.

To read more, go here. 

Social Security Beneficiaries Hit Record

Above, yours truly with The Beast. Welcome to the ranks of the retired!

The numbers of Social Security beneficiaries has hit a new record. This record will be broken again and again as more baby boomers reach retirement age.

According to CNS News:

The number of Social Security beneficiaries hit a record 61,859,250 in November, according to data released by the Social Security Administration. 

At the same time, according to the Bureau of Labor Statistics, with unemployment at the lowest rate since 2000 (4.1 percent), there were 126,827,000 full-time workers in the United States (including government workers). Yet that equaled only 2.05 full-time workers for each person receiving Social Security benefits. 

Even when all 153,918,000 people who had jobs in November are considered (counting both full- and part-time workers), the ratio of workers to Social Security beneficiaries was about 2.49 to 1. 

The record 61,859,250 Social Security beneficiaries in November, included 45,439,781 retired workers and their dependents; 5,992,862 survivors of deceased workers; and 10,426,607 disabled workers and their dependents.

Welcome to "Geezerhood"!

To read more, go here. 

Baby Boomer Divorce Leading To Financial Woes

Above, the Little Church of the West in Las Vegas, the oldest building on the Las Vegas Strip. Wikipedia photo.

After looking at an article that MarketWatch posted about the steep rise in baby boomer divorces, I guess I am lucky (all things considered).

My ex-wife and I split up 24 years ago and finally finalized our divorce three years ago. It is my understanding that she has remarried (she didn't exactly invite me to the wedding), so she's someone else's problem.

It is interesting to read about late-in-life or "gray" divorces.

According to MarketWatch:

Looking ahead to the next phase of life can seem pretty dreadful if you can’t stand the person who you’ll be spending it with. 

That may be what some boomers are facing. Among U.S. adults ages 50 and older, the divorce rate has roughly doubled since the 1990s, according to a recent Pew Research Center report. 

Statistically speaking we’re healthier and probably going to be living a lot longer — possibly 30 years longer — than average retirees once did. The surge in late-in-life — or “gray” — divorce is one possibly unintended consequence of this so-called longevity bonus.

Since I am financially secure and am in good health (knock on wood), I feel rather fortunate. It is funny to remember years ago that while at a friend's house we heard a wedding caravan of cars pass by. To that, he said, "Why buy a cow when milk is so cheap?" Based on the statistics, maybe there's some truth to that.

To read more, go here.

RV Purchases Growing In Popularity

Above, camping on the Keene Ranch. Photo by Armand Vaquer.

More members of the baby boomer generation (those born in the years following World War II) are entering retirement age (like me) and are looking to buying an RV for traveling in their "golden years". Younger generations are also buying RVs to enjoy with their growing families.

Such is the case of residents of Eastern Idaho, which is what an article from the East Idaho News prompted this blog post. It is also true for baby boomers elsewhere and other generations elsewhere.

They wrote:

IDAHO FALLS — With RVs already in the driveways of many homes in eastern Idaho, one would think the local market is already saturated and sales at local RV dealerships would have slowed. 

But in fact, the opposite is true — RV sales are growing in eastern Idaho and local dealers say 2017 looks to be a good year. 

John Hollist, a sales representative at Smith RV, said as local residents grow up taking trips in their parents’ RVs, naturally they want to buy their own RV when they have their own families. He said for many it’s about have a certain type of lifestyle. 

“From here, you can go two hours in any direction and be setting up camp,” Hollist said. Many locals love taking advantage of all the outdoor opportunities close by. Being in a warm RV doesn’t hurt, either. 

He added that their RV lot consistently has an upward RV sales trend. Even if the economy is iffy and fuel costs go up, Hollist explained, rather than spend more money on bigger trips, people will opt to get in their RV and take a shorter trip. 

What has changed, though, is what types of RVs people are buying. “There is a big trend toward lightweight stuff that people can pull with their SUV,” Hollist said. Anything with bunk beds always tends to sell well.

To read more, go here.