Denial (no, not the river)

[REWahoo]

Yet another example of why you are "different" if you read this forum...

From a Marketwatch article on the failure of Boomers and seniors to respond to all the new products and services financial firms are rolling out aimed at helping folks save for retirement or generate income during retirement:

Matt Thornhill, founder of The Boomer Project and one of several speakers at NASAA's forum that focused on the regulatory and business issues raised as the first of the baby-boom generation turns 60 this year and heads toward retirement:

Baby boomers are also in "denial" about retirement and the need to save and plan, says Thornhill....

"As a generation, boomers feel they don't have to worry about retirement yet," he said. Thornhill's research suggests that boomers think middle age lasts from 48 to 73 and old age begins at age 74. For boomers who are 50, old age or retirement is a quarter century away.

What's more, boomers 50 and older say they plan to retire at age 68, far older than younger Americans say the plan to retire. And besides working, half of boomers age 50 and older say they have no idea what they will do in retirement. "Talking to boomers about retirement is a bit like talking to a 15 year-old about how they plan to raise their children," he said.