Many Baby Boomers Reluctant to Retire

Engaged, financially struggling boomers more likely to work longer

WASHINGTON, D.C. -- True to their "live to work" reputation, some baby boomers are digging in their heels at the workplace as they approach the traditional retirement age of 65. While the average age at which U.S. retirees saythey retired has risen steadily from 57 to 61 in the past two decades, boomers -- the youngest of whom will turn 50 this year -- will likely extend it even further. Nearly half (49%) of boomers still working say they don't expect to retire until they are 66 or older, including one in 10 who predict they will never retire.

DYI Comments:  The reason is simple for the majority of Boomer's who are pushing out retirement [for those who have a job] further and further; 1/3 of all BOOMER'S ARE BROKE. Only a small microcosm enjoy their work so much so that retiring is unthinkable.  Except for the upper tier Boomer's the rest will muddle through extending their target date for retirement and many if possible will pick up part time work out of necessity.

DYI'S forecast from peak to trough decline for the S&P 500 of 45% to 60% will hit Boomer's hard forcing many to work well into their very late 60's and early 70's (and possibly longer).  The morale of the story for younger people especially the Mellennial's is to live below your means significantly, work on your career [or work on getting one], avoid student loans and other personal debt and save, save and save.

DYI