5 Best Books on Baby Boomers and Retirement

As the oldest Baby Boomers approach retirement age in this faltering economy, many are facing unparalleled challenges to secure the resources they will need to support their increasing life spans. With house prices and investment portfolios plummeting, Social Security and Medicaid funding dwindling while medical costs swell and responsibilities to care for aging parents increase, many Baby Boomers are just struggling to survive rather than looking forward to the joys of retirement.

Experts predict the current 39 million seniors — and that number will more than double to 89 million by 2050 — will change the face of retirement. How Baby Boomers manage their nest eggs will revolve around “choices about how much risk to take on in order to beat inflation while making sure they don’t outlive their savings,” notes U.S. News & World Report. Many who have suffered heavy losses feel there is not sufficient time to recoup their assets.

Yet not all is dismal for the financial future of Baby Boomers who develop a sound retirement plan. These five resources will help readers pinpoint assets and decrease spending to ensure they do not outlive their resources.

  1. How 50+ Baby Boomers Can Still Retire: A Practical Guide for Older Boomers Hit Hard by the Great Recession by Al Kernek Author Al Kernek, a Baby Boomer who wrote this book after formulating his own survival plan, also offers advice at Baby Boomer Lifeboat and Boomer Muse. Published in April 2011, this 114-page paperback book is available on Amazon for $14.95 or Kindle for $9.99.
    In this recent publication, Kernek addresses most of his advice to Baby Boomers who have seen their retirement plans significantly impacted by the recent recession. In addition to a discussion on alternative retirement plans, Kernek provides free resources and real examples of proven strategies for achieving a fulfilling retirement.
    “This is your personal guide to not just survival but also salvaging a meaningful and comfortable retirement lifestyle,” the author notes. Designed to help readers reevaluate expectations, the book aims to “redefine retirement in terms of fulfillment, security and comfortability rather than through a prism of how much money is left in the nest egg.”
  2. Road To Retirement For Baby Boomers by Gordon J. Dana A double retiree, author Gordon J. Dana discusses various plans for surviving all phases of retirement. Published in April 2011, this 167-page book is available from Xlibris via e-book for $9.99, paperback for $19.99, and hardcover for $29.99.Dana covers some of the most essential steps for preparing an enjoyable retirement. The book emphasizes creating a desired lifestyle plan and leading a healthy life so those goals can be achieved. The book also offers an in-depth discussion on how to evaluate expenses, options for investing and saving as well as the various money management programs available.
  3. The Long Baby Boom: An Optimistic Vision for a Graying Generation by Jeff Goldsmith Jeff Goldsmith, president of Health Futures, Inc., is an associate professor of Public Health Sciences at the University of Virginia. Published in 2008 by Johns Hopkins University Press, this 233-page hardcover book is available on Amazon for $24.95.In The Long Baby Boom, Goldsmith takes on the “catastropharians” who claim that spending on Social Security and Medicare will become a drain on the U.S. economy as millions of citizens begin applying for benefits. An optimist at heart, Goldsmith advocates working as long as possible to save for as long as possible. His insightful commentary, which covers the behaviors, attitudes and values of the Baby Boomer generation, encourages personal responsibility for retirement and health care costs.
  4. Yes, You Can Still Retire Comfortably! The Baby-Boom Retirement Crisis and How to Beat It by Ben Stein Personal and corporate finance guru Ben Stein teams with investment psychologist Phil DeMuth to present this unvarnished look at the state of retirement in America. This 222-page hardcover book, published by New Beginnings Press in August 2005, is available on Amazon for $23.95.Described as “a survival manual for the difficult, but exciting, road to retirement security,” this book offers practical advice on how to approach saving for the retirement years. An expert in elderly finances and a regular contributor to the AARP’s Modern Maturity magazine, Stein outlines a sensible investing and saving plan that will support the retiree’s current standard of living. The book also provides practical advice on how to spend a nest egg wisely.
  5. Baby Boomers Envision Retirement II: Survey of Baby Boomers’ Expectations for Retirement Published by the AARP in May 2004, this free 136-page e-book is a continuation of the 1998 research project Baby Boomers Envision Their Retirement. The research initiative endeavors to understand the beliefs and actions of the Baby Boom generation.This updated study focuses on how Baby Boomers have been impacted by shrinking 401(k) plans, the weakening economy and the stability of the Medicare and Social Security programs. The study also examines concrete steps this generation has taken within the previous five years to plan and prepare for retirement. Although some of the statistics are outdated, much of the information and resources still provide sound advice.