Economic Report: More Older Workers Keep Working, 25 Percent of Boomers Plan Never To Retire

[Omaha Steve]

http://www.laborradio.org/node/6090

Economic Report: More Older Workers Keep Working, 25 Percent of Boomers Plan Never To Retire

By Jesse Russell

The trend of Americans trying to retire early is reversing with new numbers showing that 29 percent of those in their 60s still have jobs. That is a big increase from the mid-80s when only 18 percent of those in their 60s held down a job. What’s more shocking is a survey by the National Association of Realtors shows that more than one in four baby boomers plan to never retire. One of many reasons is that many workers will have to work until they are 67 in order to benefit fully from Social Security as well as the rising cost of healthcare.

[LSparkle]

1. I've pretty much accepted I probably won't be able to retire

My plan is to save as much as I can and hopefully find a part-time type of work (maybe artistic or something outside an office) that will help keep me engaged in life and able to support myself beyond age 67.

[brook]

2. In my 70's

and working. Not by choice. It's the 'New' America.

[brokensymmetry]

3. The only retirement is a grave.

Social security is under attack, both by attempts
to privatize (i.e., destroy) it, and due to inflation
that far exceeds benefit increases.

Defined benefit pensions are becoming a memory.

And those 401k plans depend on s strong stock market.
Such markets do not last forever.

Another piece of * legacy.

[antigop]

4. Sounds like a perfect reason for people to organize and get collective bargaining agreements

They also need to get behind a national health system that is affordable so they don't have to depend upon a company providing health benefits.

[The2ndWheel]

5. This is why we can't slow population numbers

If people wish to retire. Failing that, we have to increase taxes to pay for more of everything. Plus the longer we all live, the more we're going to work. Then again it'll be tougher to find a meaningful job, since more people will be working longer, and technological advances will make actual people less and less needed. In addition to that, a college degree will lose more worth, and you'll need more specialized education, and some more after that, before you're qualified. Of course you won't make as much as you used to, since there are more people with college degrees who are working, so you'll be needed less and less, and since you'll be obsolete by the time you get the job, the next crop of youngsters will be ready to do the work for less. Obviously the older people will still be looking for work since the retirement age went up, but won't find much because they're busy being retrained for a job they won't have the skills for when they're done. The cycle just kind of goes on like that.

[TrogL]

6. I have no intention of retiring

What would I do with myself?

Besides - I can't. My work pension sucks, my Canada Pension would barely keep me in underwear.