Baby Boomers Working Beyond Retirement Age
Posted February 21, 2008
According to HR Magazine, citing figures from the Bureau of Labor Statistics which show that the number of workers older than 64 is expected to increase by 74 percent from 2004 to 2014, older workers are not in any hurry to retire.
This flies in the face of current thinking by senior executives who have been worrying about how to capture all the knowledge of their baby boomer employees who are expected to start retiring soon.
The magazine gives no reason for the growth in older workers. However, some contend that a majority of people in their 60s have not saved enough to retire in the fashion that would allow them to maintain their current lifestyle.
Another explanation could be that most people in their 60s do not consider themselves old.
We tend to agree with that.
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