Baby boomers have modest retirement plans

LONDON, Oct. 10 (UPI) -- Baby boomers, who famously thought in the '60s that anyone over age 30 was old, don't plan to exert themselves much in retirement, British researchers said.

While some members of the baby boomer generation -- born from 1946 to 1964 -- have plans for some substantial projects, particularly in relation to travel or second homes, most plan to spend their sunset years watching television and films, listening to music or going for long walks.

Dr. Rebecca Leach of Keele University and King's College, London, said there is limited evidence that "first wave boomers are developing new third-age lifestyles."

The researchers said 33 percent of British boomers own their homes outright, 52 percent have mortgages and 15 percent have second homes. Home improvements are a significant part of boomer lifestyles.

Seventy percent regard age as unimportant in terms of their personal identity and, almost without exception, they told the researchers they felt younger than their actual age.

They identify more with their children and younger people than with their parents and older generation, the researchers found.

Boomers demonstrate a changing attitude toward inheritance, with surveys suggesting they are more likely to use their wealth to enjoy life than to leave a bequest.