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Retirement in the Modern Age
Home » Careers » Blog » Retirement in the Modern AgePosted by Your Guide on March 15, 2006 4:04 PM
The retirement trend among many of the older generation is to, quite literally, work until you drop. These days, not so much.
Today Americans are living longer than ever before, but that doesn't necessarily mean that those extra years will be spent in the workplace. According to a MercuryNews.com report, older Americans are leaving the labor force earlier than they did fifty years ago, even though their lives are longer and their quality of life better. Only 19% of males aged 65+ were a part of the labor force in 2003, down from 46% in 1950!
As the Baby Boomer generation leans closer and closer to retirement, these statistics become pretty important. The AARP reports that nearly 1 in 5 company workers is eligible for retirement now in businesses offering pensions, and another third will become eligible over the next 5 years.
Companies are beginning to offer more incentives to postpone retirement in an effort to stem the fiscal hit by retiring Boomers, even going so far as to hire retirees from other companies. It's still uncertain exactly how the business world will react to the mass retirements, but experts will be watching...
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