There are 79 million baby boomers that will begin turning 65 on January 1, 2011. Baby boomers are those who were born between 1946 and 1964.
Baby boomers don’t plan on retiring in the traditional sense. Instead of settling down to a life of leisure when they turn 64, 76 percent of baby boomers who were surveyed have said they want to begin a new career as a retiree. Only 17 percent of boomers hope not to ever work again.
Baby boomers dedication to the workforce doesn’t mean that is all they want to do. Forty-two percent of those surveyed said they would like to alternate between leisure time and work, while 16 percent would opt for ongoing part-time work.
Most baby boomers aren’t motivated solely by money in their desire to keep working. While 37 percent of boomers did say that earning an income was an important factor, 67 percent are after the “continued mental stimulations and challenge.”
Source: Merrill Lynch-The New Retirement Survey
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