video transcript

The baby boom generation has broken animals. Every stage of life and it looks like old age is going to be any different they are not retiring gracefully. They are doing things like starting businesses embracing digital technology. And living abroad in record numbers here are some key retirement trends. First they're leaving the US. Packing it in for foreign countries where they can say mom living costs. And enjoy the warmer climates and overall about three million people expected to retire abroad in the next few decades. Second they're starting companies -- almost a quarter 21%. Of new US businesses started in 2011. -- launched by entrepreneur or is age 55 to 64. Now a lot of this have to do with the recession -- so many people getting laid off. He started doing consulting work and started new businesses third boomers are tech sat. They're using Smartphones. Tablets and other devices in record numbers expect more retirees to publish creative works online connect with friends and family on sites like FaceBook. And look for jobs on linked in -- they're taking on more debt. A lot of them refinance their homes and now they -- aid money. 40% of homeowners over age 65 had mortgage debt in 2010. Compared with just 18% as recently as 1992. It. And finally. Americans out linking their expectations. Not only men and women living longer than ever before. They're under estimating how long are going to -- Once survey found that almost 40% of people ages 45 to eighty underestimated their likely average longevity by five years or more. Five years or more. A lot of ranked. Golf course fees and probably some serious. Health care costs that you haven't planned for.