Key Trends in Baby Boomers Working In Retirement

Key Trends in Baby Boomers Working In “Retirement”
2010 Del Webb Baby Boomer Survey

Plans to work during retirement:

The vast majority of both those planning for retirement and those living retirement are planning to include working as part of their lives.
Among young boomers, 72% plan to work. For older Boomers not yet retired, 74% plan to work. In the 1996 survey, 68% of the 50-year-olds surveyed said they planned to work
Today’s 50-year-old Boomer anticipates retiring four years later.
- Compared to 50-year-olds in 1996, today’s 50-year-olds plan to retire a median of four years later – Age 67 vs Age 63.
- Of those turning 50, 54% anticipate retiring from their primary career after age 65; 0f those turning 64 and still working, 8% plan to retire over the next few years, and 74% after the age of 65.
- 14% of 50-year-olds and 18% of 64-year-olds who are still working never anticipate retiring.

So that’s the plan, but what happening?

Why work during retirement?

Finances- Fulfillment & Fun - While finances are a common reason for why many will continue to work, other top reasons include:
- “Warding off boredom/keeping busy”
- “Self satisfaction”
- “Simple enjoyment”