Gallup: Baby Boomers Putting Off Retirement

Tuesday, 21 Jan 2014 07:44 AM

By Elliot Jager

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The baby boom generation born in the 1950s and early 1960s would rather retire later in life, and some say they don't plan to ever quit working, according to a new Gallup survey.

According to the poll taken in December of 1,929 baby boomers, 49 percent say they plan to hold off retiring until they are at least 66-years-old, bypassing today's average retirement age of 61 as well as the customary 65-year milestone.

One in 10 also say they don't plan to retire at all, Gallup found.

The reasons vary from being unable to live comfortably off their prospective retirement incomes to their purported generational "live to work" credo. Still, most baby bombers, or 66 percent, who plan to work beyond 65 are not particularly committed to or enthusiastic about their jobs or careers.

"Whether by choice or necessity, baby boomers will remain a sizable proportion of the workforce in the years ahead," according to Gallup.

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