Tuesday, October 21, 2008

Baby Boomers Are Delaying Retirement Plans

The following news item explains the dramatic drop in sales ranking on Amazon.com of my book How to Retire Happy, Wild, and Free along with other retirement books such as What Color Is Your Parachute for Retirement.

A new AARP survey confirms that a lot of older Americans have changed their retirement plans due to falling house prices and the stock market crash — they now have no intention to drop out of the workforce.

Apparently baby boomers are delaying retirement plans indefinitely. Indeed, a whopping 70 percent of workers plan to work during their retirement years.

Part-time retirement jobs are the top choice in the survey of 1,500 Americans ages 45 to 74 who are working or looking for work.

Common motives for post-retirement work are for interest or enjoyment (29 percent) or for needed income (22 percent). The percentage of respondents working for pleasure has decreased since the survey was last conduced in 2002, while the proportion working out of financial necessity has increased. Boomers planning to work primarily for enjoyment typically have post-graduate degrees and household incomes of at least $80,000 a year.

Instead of looking for
jobs during retirement, smaller numbers of older workers plan to start their own business or work for themselves (11 percent).

Of course, as I have indicated in
The World's Best Retirement Book when you retire isn't always completely in your control. A large number of workers retire because of layoffs, buyouts, health problems, or to care for relatives.

1 comment:

  1. It's a pity that the baby boomers are having to delay their retirement plans due to the current economy. Retirement is something to look forward to, delayed gratification is not!

    However, in the meantime, while we're back to work, check this out!

    AARP is a great source of services and information that can be beneficial to the quality of life. What's great about AARP is that a membership comes with prescription and travel discounts!

    AARP has teamed up with talk show host, Cristina Saralegui and made a fun, customizable video and you're just a click away from being the next guest on Amigos Live! Check out http://www.upclosewithcristina.com/video to learn more and make your own video!

    Also, you can enter to win an all inclusive trip for 2 to Miami while you're checking out the site! (And even if you don't win, there's still those great travel discounts that come with the membership!)

    Definitely check out AARP for yourself or a loved one. There are really are some great benefits to joining!

    I hope it's alright that I commented on your blog -- wanted to let you know about the fun video with Cristina and AARP's great benefits. If you have any further questions, please don't hesitate to email me.

    Isabella Coldivar
    AARP Ambassador