Archives for July 2025

No one would blame you if you’re one of the people who thought “peak burden” is when you’re exhausted from carrying around a mountain. Alas (a word that should be used more often), the phrase refers to rapidly approaching “peak 65” when the youngest boomers turn age 65.

Who cares? Maybe you should if you’re on the leading edge of the generation. We (the leading edge we) are mostly prepared for retirement if we have not already done so. The peak 65 group? Not so much.

Around 53% of “peak boomers,” who will turn 65 between 2024 and 2030, have less than $250,000 in assets, a new study found. Research also indicates that more than a quarter of the workers that are nearing retirement have no savings and few years left to put some money away.

Bottom line, peak boomers will be hard pressed to maintain their standard of living in retirement. That in turn means they will rely on Social Security as their primary source of income. It’s estimated that one-third of these younger boomers will rely on Social Security benefits for at least 90% of their retirement income when they are 70.

You should already know that Social Security was never meant to be a retiree’s total income. More like 40%. The idea was that it would supplement what retirees had managed to save over the years in a bank account or 401k. The average benefit is $23,000 per year, which is hardly enough for a comfortable retirement. It’s more like a small step up from sleeping on the street in a cardboard box.

How or why should the peak burden worry older boomers? The stress put on the economy by these peak burden retirees will impact everyone. Productivity could slow as they leave the workforce. Likewise, consumer spending could decrease as they lack the funds to spend. In effect, everyone could feel some pain, not just the peak burden people.

There’s a saying that pain is inevitable, suffering is optional. Not buying it. Many retirees could be seeing some hard times ahead.

Jay Harrison is a writer and creative consultant for DesignConcept. His newest mystery novel, Rio Puerco Demise is available on Amazon. His first mystery novel, Head Above Water, is also available on Amazon. But that’s not all. You can also purchase the Best of BoomSpeak on Amazon.

I have some nice jewelry – not diamonds or gold – mostly unique silver pieces from when we lived in Egypt and silver, turquoise, coral and sugilite from the American southwest. I viewed them as wear-to-work or out-for-dinner, and I’m not doing much of either these days. My retirement wardrobe is functional and not particularly stylish.

For some reason, I worry about what happens to our stuff when we die. We have wills and all that, but there’s this weird dark side of me that considered selling everything little by little, so that by the time we die, all the good stuff will be gone. My dad used to sell our toys if we took a bathroom break, so I’m thinking this may be another oddity from the gene pool.

So, yes, I thought about selling my jewelry, among other household items, but silver isn’t all that valuable and I don’t really want to part with the stones. As they say, you can’t take it with you. I’ve decided to start wearing it, possibly even adopting the look of a crazy lady who wears all her jewelry at once. By the way, this does align with my vision of pretending I am a Bohemian heiress who spends her later years dabbling in what amuses her.

I’ve always leaned minimalist, and it was not hard to follow Coco Chanel’s advice about removing one piece before you leave the house. Why not add one piece before leaving the house? Or two? I’ve also decided items I reserved for special occasions can now come out to play. Kind of like using your good china, because it’s just sitting there otherwise.

My silver concho belt with a rash guard and denim shorts? Birkenstocks? Why not? I shined up the belt and wore it to the grocery store. We were walking down the aisle, and Dale said, “That belt looks beautiful.” Wow, so that was worth it, right?

The bad news is I need to polish up the rest of my silver, but I’m excited about wearing some pieces that have been tucked away for quite a while. And wondering how I am going to mix it up … unusual combinations I hadn’t previously considered.

I’m also thinking about new ways to wear some of the work clothes I couldn’t bring myself to get rid of. And, oh, those cowboy boots from Texas.

If we do it right, retirement can be all about freedom. Maybe with aging, we lose the fear of being judged. Wear what you want, think what you want, say what you want, do what you want.

Just live your life. Wear the jewelry, use the good china.

(Rerun from the Best of BoomSpeak)

Donna Pekar is an aging badass (for real) who lives in California and writes Retirement Confidential.