Some Boomers have already gone into a retired lifestyle, with either a change to something part-time or outright retirement. For most, they will be considering how they want to retire in the next dozen years. This group, hopefully, is already looking at their lifestyle and adjusting it so they will be ready for the day when their retirement and income change their lives substantially.
What Boomers should be doing before retirement?Retiring debt - Boomers should be paying down debt. In their 50's they should be at the peak of their earning potential, and as children move away, the Boomers should have more money to pay off the mortgage, vehicle loans and all credit card debt. Also important, Boomers should not be accumulating debt during the years leading into retirement. Any purchase that will increase debt into the retirement years should be seriously reviewed, as cashflow will be lower in retirement and debt payments will be more difficult than they were during the working years.