Booming Questions: Smart Planning is a Baby Boomer’s Must

It’s never too late to plan for retirement might be a cliché, but the hard truth is that Baby Boomers—whether they like it or not—are on deck now and for the next decade. For many of us, retirement is inevitable, and while financial planning is paramount, other considerations need sorting out, too.

Where do I want to live?

Nearly 80 million Baby Boomers are facing retirement, so if you’re part of that generation, you’re in good company. Geriatric specialist Kathryn Rackson, M.D., a primary care physician at VCU Health’s Center for Advanced Medicine in Richmond advises that instead of asking yourself where you want to retire, take a step back and ask yourself where you want to live. Do you want to stay in your home and age in place or embrace retirement community living? She suggests other factors to consider: climate, access to appealing amenities, and quality healthcare. 

What’s most important to me?

If you’ve spent four decades on the 9–5 train, you may have had little time to develop a hobby, travel, or pursue a passion. But you’re about to enter the chapter in your life where you can make those happen. Maybe you want to start communing with nature or hang out on a beach. Walkability might be important, so it’s wise to identify resources like good public transportation. “Figure out what makes you happy and factor it in while you’re making decisions,” advises Dr. Rackson.

What are my long-term plans for care?

Don’t ignore this important question. Baby Boomers have watched their parents face it and are now grappling with it themselves. Have a plan, and don’t assume it involves your children. They may not be willing or able to care for aging parents. And you probably don’t want them to assume that responsibility in the first place.


This article originally appeared in the December 2024 issue.

Madeline Mayhood
Madeline Mayhood is the editor-in-chief of Virginia Living magazine. She has written for many regional and national magazines, including Garden Design, Southern Living, Horticulture, Fine Gardening, and more.
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