I want to know the 3 biggest problems facing people between the age of 45 and 60
today.

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Request for Question Clarification by czh-ga on 31 May 2005 20:03 PDT

Hello ron3475-ga,

You asked a very interesting question and I?d love to do the research
for you but I need you to cut it down to manageable size. The Subject
line for the question is ?Retirement? so I assume that you?re thinking
about problems that 45-60 year olds are facing in regard to retirement
instead of any other possible problems they may be dealing with.

There are an awful lot of ways to approach this question. Please give
me the context of what you?re looking for in an answer. I notice that
this is the first time you?ve posted a question to Google Answers. I
suggest that you review the following links so that you can give me a
good description of the scope of the answer you?re expecting in light
of the price you?ve set. After all, dozens of books have been written
on this subject.    ;-)

http://answers.google.com/answers/faq.html
http://answers.google.com/answers/pricing.html

I look forward to your clarification.

~ czh ~

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Clarification of Question by ron3475-ga on 01 Jun 2005 04:10 PDT

I am writing a book addressing the major concerns this age group have
which could prevent them from enjoying their retirement or preventing
them from ever retiring.I will have several follow up questions later.

There are many problems facing people in this age group relating to
retirement.  How much to save for retirement and what their retirement
expenses will be is one key concern.  Another is job security: people
want to be retire when they are financially and emotionally ready
instead of being abruptly laid off.  Finally, an important issue is
retirement lifestyle: where to live and what to do.

Many Americans are quite ignorant regarding how much to save and what
their retirement spending needs will be.  Relatively few can take an
asset level and derive the amount of sustainable income they can
expect to receive from it.  There is a general lack of savings as
well.  Only about a third of investors are likely to reach a level of
savings that allows them to replace 97% of their pre-retirement
income.

"Planning is critical to retiring 'on target'" Vanguard Group (May 24,
2005) https://flagship2.vanguard.com/VGApp/hnw/VanguardViewsArticle?ArticleJSP=/freshness/News_and_Views/news_PCNFV_retiresurv_05242005_PB_FL_VY_CO_AO.jsp

Global competition and age discrimination can leave older Americans
with difficult job prospects.  Many find that they have inadequate
savings to retire, requiring them to continue working full-time or
part-time.

"Boomers want the security of being their own bosses when corporations
are slashing payrolls, tossing fiftysomethings into a dicey labor
market. One-third of AARP members work, and many need to work beyond
the traditional retirement age of 65. 'It's one of our pillars of
retirement income,' Lichtenstein says."

The new entrepreneurs: Americans over 50" by Jim Hopkins, USA Today
(January 17, 2005) http://www.usatoday.com/money/smallbusiness/2005-01-17-older-entrepreneurs_x.htm

Even for those whose financial needs are met, retirement lifestyle
issues can be challenging.  Figuring out where to live and what to do
when work is no longer a major part (or any part at all) of one's life
can be daunting.

"Some people don't think about how they'll spend their time in
retirement until they wake up jobless. That's a bad idea
psychologically as well as financially.  Retirees who fare best are
generally the ones who have absorbing interests to pursue, said Ralph
Warner, the recently retired author of 'Get a Life: You Don't Need a
Million to Retire Well' (Nolo Press). Those who wait until retirement
often find themselves casting about for something to do, and may
discover that the hobby or pastime they thought they would love isn't
quite so engaging when they can indulge it full-time. As Warner says,
'There's only so much golf you can play.'"

Here's your get-ready-to-retire checklist"By Liz Pulliam Weston, MSN
Money http://moneycentral.msn.com/content/Retirementandwills/Retireinstyle/P116529.asp

Sincerely,

Wonko

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Clarification of Answer by wonko-ga on 01 Jun 2005 12:02 PDT

Medical expenses are a significant component of retirement expenses
that are frequently overlooked.

Sincerely,

Wonko

Good work.thanks for the source.