Senior Spotlight: Nearly 50% of Baby Boomers Plan To Work Past Age 70

Baby Boomers may be the wealthiest generation in America (according to Forbes), but not all wealth is distributed evenly. Just two days ago, Yahoo! Finance reported the results of a survey conducted by Transamerica Center for Retirement Studies. The results indicated that 49% of Baby Boomers are currently working and expected to work past 70 – or do not plan to retire at all!

83% of survey respondents state that their reasons for working so long are financial. Post pandemic factors such as employment risks and stock market volatility are the large contributors to a change in retirement plans.



In many cases, a long-term lack of savings has resulted in a need to work longer. The Hill has reported that 2/5 of Baby Boomers have zero retirement savings, and that only 58% of Baby Boomers aged 55-64 own retirement accounts.

The survey results were compiled into 14 reasons why baby Boomers are expected to delay retirement past 70… here are the top 5:

#1: Financial reasons (83%)

#2: Healthy-aging reasons (77%)

#3: Want the income (64%)

#4: Be active (56%)

#5: Keep my brain alert (51%)

To see all 14 reasons – we encourage you tom read the article in full here.

Have you ever considered a delayed retirement (after age 70)? Has this impacted your plans to move? To travel? To change your lifestyle? There is no one right way to age or retire; all that matters is your health, happiness and financial and personal well-being.

We wish you time to reflect on what you want your retirement to look and feel like, and how you can make it happen!

Best wishes,

Bobbi

Bobbi Decker
DRE#00607999

Broker Associate
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com


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