That Wave of Retirees? Not So Big

[lightwaves]

Looks like Baby Boomers and ER don't mix much......


That Wave of Retirees? Not So Big

 

[chinaco]

I am not surprised. Most people have not planned for Retirement and will not have enough money... if they remain healthy, they will continue working. Many will work full-time.

 

[W2R]

In the first four months of 2008, about 30% of 65- to 69-year-olds were either employed or looking for work, up sharply from 24% in the last business-cycle peak in 2000, according to the Bureau of Labor Statistics. Look one rank down, at 60- to 64-year-olds, and 54% are in the labor force, up from 47%.

In two weeks, I will be part of that 54%. I intend to retire at age 61.5, and I don't think that's so awful, especially in the middle of a recession/downturn.

 

[Goonie]

Looks like Baby Boomers and ER don't mix much......

I am not surprised. Most people have not planned for Retirement and will not have enough money... if they remain healthy, they will continue working. Many will work full-time.

Of the 3 Boomers in my immediate family, only 1 could FIRE.....me @ 50 last year! The other 2 (both several years older than me) have to work into at least their very late 60's or possibly early 70's. I LBMM...or at the very least within my means......they didn't! I planned for, and saved for [-]a rainy day[/-] an early retirement, and achieved success with that! They neither planned for, nor saved for retirement of any kind....early, normal, or late....and are now realizing that they really screwed themselves!

 

[Purron]

From what I've read on this board, this is actually good news for those who have or will retire early. More folks paying into and fewer drawing out of social security. There are three people in my immediate family in the baby boomer generation. One could retire but won't because he lives to work. The other two will need to work for quite a while longer. This is not really due to bad planning on their part - just some hard knocks thrown at them along the way.