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Baby Boomers Delaying Retirement

Category: Baby Boomer Retirement Issues

Remember the great fear of a few years ago: baby boomers will be retiring in droves, creating a severe shortage of skilled workers and driving up costs for employers. Whew – there’s one less thing to worry about. A recent survey on the impact on retirement of the recession by the Society of Human Resource Managers (SHRM) found that more than two-thirds of human resource professionals surveyed report that the number of employees planning to delay retirement has increased.

Topretirements is frequently asked this question and the SHRM survey confirms our theories on the matter. Millions of working Americans are nervous about their retirements because of a combination of ingredients: their investment portfolios are way down and they are fearful about their jobs.
According to The State, The unfortunate reality is that more and more people 55+ are out of work who would rather be working. The Bureau of Labor Statistics says more people in this age group are or out of work since they began keeping records. Experience Works, a nonprofit employment training organization for older Americans, figures that the expected retirement age for Americans is now 72.

What do you think?
Have you delayed your retirement for one reason or another? Please respond in the Comments section below.

Posted by John Brady on October 6th, 2009

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