Signs Point to Boomers Working Longer in Life
TIME magazine is now covering the financial challenges facing by America’s baby boomers. Their latest story says we will need to work long in life … but, that’s good, according to TIME:
The latest victim of the financial crisis: baby boomers’ retirement. With plunging stock values and tanking home prices, an increasing number of boomers approaching retirement age are postponing travel plans and staying on the job longer. According to a study in October by AARP, 65% of people over the age of 45 say they will delay retirement if the economic situation doesn’t improve significantly. Since that survey was published, stocks have sunk lower and the economy has formally entered into recession.
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Category: Baby Boomers, Career & Work
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This recession has really hurt our generation. Almost all of my working life, I have been investing with the idea of retiring at 62 (2 years from now). Then George Bush took office, the Republicans were in charge of Congress and I saw very slow growth in my investments and I said, “No problem, I can work until I am 65. After all, I like my job and it keeps me on my toes.” Now, I see myself working until I am 70+ and the idea makes me furious. I feel violated by the financial corporation’s irresponsibility.