Bank CD or Annuity for Retirement Savings?

Well, a lot of us have been struggling with our retirement accounts lately. I know that it was discouraging for me to watch my stock based IRA take a huge hit last year. And even though it is creeping back up, I have not recovered my retirement savings to pre-2009 levels. It is hard to watch money evaporate when it was such a tough battle to sock it away in the first place.

Safe Money?

So let’s take a look at some safe money investments. This is what bank CDs and fixed annuities are usually called because they have guarantees from banks or insurance compaies that no money will be lost when the market goes down. But is this really true? Well, you really have to consider inflation and the affect of taxes before you can actually say you did not lose any money.

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So What About Baby Boomers and Retirement?

We are only certain about one thing when it comes to baby boomers hitting the traditional retirement years, and that is that retirement years will not be all that traditional. This conclusion comes from a mix of good news and news that is not as good. But we, the baby boomer generation, are nothing if not flexible. You may sing that we didn’t start the fire, but we certainly did not put it out either!

Baby Boomers Expect to Stay Working Longer

We may expect to leave our current job (or not) at age 65, but we probably do not expect to stop earning something. Some middle aged (and older) people look upon retirement as a chance to explore their interests, start a business, or do something creative.

Also, since baby boomers are predicted to lilve longer than any previous generation, this set will re-invent the golden years. They hope to make this a truly “golden year” period where they can be able to grow in ways they could not when the every day pressures of raising kids or paying off a mortgage had to be satisfied.

Baby Boomers Have Goals For Retirement

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