Boomer Recession Anxiety---revolving around how boomers are handling their challenges in a very tough economic time is the theme of this week's Blogging Boomer Carnival.
It's hard for boomers to stay calm in the face of the stock market's volatility and the constant drumbeat of recession, unemployment, bills to pay, and bailouts. A recent American Psychological Association survey found that 8 out of 10 Americans cite money and the economy as their top sources of stress. These worries are taking a physical and psychological toll on boomers worldwide.
The wealth of American families plunged nearly 18% in 2008, erasing years of sharp gains on housing and retirement nest eggs---marking the biggest loss since the Federal Reserve began keeping track when the first Baby Boomer was born in 1946. No wonder Cynthia at Don't Gel Too Soon tells us that meeting our needs today is not all that different from when we were poor students.
A behind-the-scenes drama is playing out in a growing number of workplaces as employers prod workers to take unpaid time off to cut costs. Employers pitch the voluntary programs as a way to minimize the need for mandatory furloughs and layoffs. But the programs can spark anxiety and contention among workers. If you're wondering how to make ends meet, Ann at Contemporary Retirement offers you 40+ Alternative Income Ideas and Resources.
Want to know exactly how bad the economy is going to get? Read about it at The Boomer Chronicles today.
It seems pretty bad here in the U.S. with job openings sinking to below three million in January, according to the Labor Department. New work is hard to find. The stock market averages keep falling. Layoffs continue to climb hitting nearly 2.5 million in January, the most on record. And a gauge of workers' confidence (by the number of people who have quit their jobs) fell to a new low of two million. To pick up worker confidence some 365 Prescriptions for Dealing with the Bear Market can also help boomers deal with economic stress according to Wesley at LifeTwo.com.
During such economic turmoil it's easy to feel like crawling under the covers and staying there until it's all over. But if you're in business, you can't afford to give in to the fear. Andrea Stenberg writes How to Maintain a Positive Attitude in Difficult Economic Times.
At last count, more than five million people were drawing benefits for a week or more, a record high number of so-called continuing claims. So what do you do with your stress and all that time off from work? Barbara Ann at HoleintheDonut.com travels whenever she feels stressed-out. Most recently, she took to the road in search of "Old Florida" and discovered the interesting town of Dunnellon, complete with restored Victorian mansions, inexpensive motels, and great food.
If you decide to stay home, Dina of ThisMarriageThing.com suggests it might be good to take some time for getting closer to your teenager.
Lots of employees are getting pink slips these days. But many workers say layoffs are taking on another shade--gray. As unemployment intensifies in the economic downturn, claims of age discrimination are soaring...even when there are an increasing number of aging boomers in the workplace. Hairdressors will tell you that despite the recession boomer women can't resist spending money every month to color their gray hair. If you'd like to find a way to stretch your beauty dollar, then visit Fabulous after 40 for some cost-cutting ways to make your hair color last longer.
Few of us enjoy losing our jobs, but there are ways to deal with those mixed emotions and then move on to greener pastures. Here are a few suggestions from Laura Lee the Midlife Crisis Queen.
Just before President Obama signed the U.S. stimulus package, Janet Wendy at Gen Plus asked some tough questions about the current economic disaster.