Baby Boomers To Work Longer, Retire Later Than Previous Generations

Baby Boomers born between years 1946 and 1965, or “Early Boomers” are changing the American concept of retirement by continuing to work out of financial necessity, and putting off the start of a leisure-filled life.

75% of men and women in the past would have been retired between ages 60-65.

Less than 50% of early boomers will be retired by ages 65-69.

Expect a 50% rise in the number of people ages 65-74 years old in the next 10 years, a growth rate for that age group not seen in 50 years.

37% of boomer men are college graduates, more than any age group of men, which means they are more likely to still work after age 65.

25% of early boomer families had one or more of their children living with them, and most of those children were adults, according to the U.S. Census Bureau.

67% of early boomers are grandparents, and the Census Bureau reports a rising number are responsible for their grandchildren.

There is a 65.2% labor force participation rate of early boomer men and women, a 15-year high.

75% of early boomer women and 60% of early boomer men had higher-paying and less physically demanding jobs, which makes it likely more of them will continue working over the next decade.


Source: Metlife Mature Market