The Baby Boomer generation has done it again. As with other phases of their lives where they pioneered new lifestyles and choices, they now have succeeded in redefining retirement. While many workers before have gone the traditional route of retiring at age 62 with Social Security, Baby Boomers are forgoing the typical retirement scenario to stay on the job to satisfy both economic and workplace quality of life issues. While for years the predominant assumption was that there would be a significant labor shortage created as the Baby Boomers hit Social Security age, the opposite seems to be true. Findings in research offer a variety of potential reasons and explanations for this phenomenon which includes the fact that many organizations provide incentives for older workers to stay while many older workers themselves have come to the stark conclusion that they cannot afford to retire, and therefore will not into the near future.
Savino, David M.
"The Shifting Paradigm of Baby Boomer Retirement Planning,"
Journal of the North American Management Society: Vol. 4:
1, Article 4.
Available at: https://thekeep.eiu.edu/jnams/vol4/iss1/4