Academic journal article Forum for Applied Research and Public Policy

Moving On

Academic journal article Forum for Applied Research and Public Policy

Moving On

Article excerpt

In "The Retirement Rush" (FORUM, Winter 2000), William H. Haas III and William J. Serow argue that the baby boomers may break the mold of retirement patterns. Retiring boomers may migrate differently from preceding generations not only because of the larger size of the birth cohort, but also because of differences in pension plan accumulations and a flat real estate market.

The baby boom, however, is extremely diverse, and that diversity may affect patterns of retirement migration. Because of greater educational achievement, the growth of the service economy, and dramatically rising numbers of working women, there will be more retired couples with two careers. This will create a complex set of retirement income streams. Some couples may receive two Social Security checks, one or two pensions, investment income of various kinds, and perhaps inherited wealth to boot. These two-career couples will represent the upper end of the income distribution scale. If they have traveled and vacationed widely, they may be even more likely to move upon retirement.

On the other hand, the higher divorce rate, greater economic independence of women, and the tendency for children to stay with their mothers after divorce mean more families among baby boomers consist of mothers and their children. …

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