It appears Americans approaching retirement age are thinking differently about working after they are eligible to retire. Baby Boomers live in a world of disappearing pensions and lower benefits from their employers, combined with a lackluster economy and higher health costs, even for those who have health insurance.
A new Gallup Poll indicates 8 in 10 Americans plan to continue working full or part-time after they reach retirement age. 44% of those say they’ll continue working because they want to … while 36% say they’ll keep working because they have to.
But if all these Baby Boomers plan to keep working, what impact will it have on the job market? Will there be enough jobs for those Boomers? Will they be competing for jobs with younger folks?
My younger brother has already retired. My older brother died within a year after his retirement. One friend cautioned me that I might find retirement quite boring and emotionally challenging.
Whatever I decide … it’s still a few years in the future.
Our thought for today is from Malcolm S. Forbes:
“Retirement kills more people than hard work ever did.”