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Boomers Calling It Quits by 65



 

You would think that in these financially uncertain times that many members of the Baby Boom generation would be cautious about retiring and would be seeking ways to shore up their savings in order to meet higher-than-expected costs in the future. This might mean staying at their job for a few more years or getting part-time work.

But in this article by Jennie Phipps about a MetLife survey, she reports that she was surprised to discover that 45% of 65-year-old boomers are now fully retired, up from 19% in 2008. When asked why they retired at this age 36% cited that it was the right time; 18% said they quit work because of health reasons; and only 6% said they'd lost their jobs and couldn't find another.

How are they enjoying retirement? 70% of those already retired like it "a lot" while 20% say they like it "somewhat." Since we're always interested in what makes for happiness and where people find meaning, we wished the survey had asked more questions!

We rejoice that so many members of our Baby Boom generation have been fortunate enough to retire at 65, and we are very pleased to hear that they are enjoying this stage of their lives. But at the same time, we keep in our prayers other members of this generation who cannot retire as they had planned and now find themselves struggling to survive.

Read this at BankRate.com

 

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