According to the US Bureau of the Census, 75,858,000 births were registered from 1946 through 1964. That means that between now and 2029, Baby Boomers will continue reaching the traditional retirement age of 65 at the rate of about one every eight seconds (even assuming some boomers are no longer with us). But is retirement at 65 still a reasonable goal for the vast majority of baby boomers, let alone early retirement? Indications are that things may not be so groovy after all.
In the 2013 Retirement Confidence Survey conducted by the Employee Benefit Research Institute (EBRI), workers aged 55 and older said the following about their retirement savings:
- 60% have less than $100,000 in retirement savings
- 43% have saved less than $25,000
- 36% have saved less than $10,000
Click here to access the entire article from schwab.com.
What happened to the ‘American Dream’ of comfortable retirement and leaving a modest inheritance to our children and grandchildren? The Apostle Peter speaks of an inheritance being “kept in heaven” for us that is “imperishable, uncorrupted, and unfading” (vs. 4). How does that compare to our worldly monetary investments? In light of the ‘eternal security’ of our spiritual inheritance, how important is it that we invest in spiritual things vs. earthly things? How is that reflected in how we have been/are investing in heaven/earth?
- Substitute the following question for Question 2 in the Personal Study Guide: Realizing that leaving a traditional inheritance is becoming far more difficult, should we see the idea of valuing our spiritual inheritance and passing down that heritage in a new light?
We want to hear from you! How are you discussing the topic of Resilient Faith with the Boomers in your group?
The options for Boomer groups for the Resilient Faith unit were written by Michael Stover. Michael is a husband to one and a father of five, with over twenty years of experience in local church ministry. He and his family currently live in Jonesborough, Tennessee where he enjoys writing, computers, hunting, and fishing. You can connect with Michael on Twitter at twitter.com/michaeldstover and read periodic musings on a variety of topics on his blog at michaeldstover.com.