Tags: Gallup | baby | boomers | retire

Gallup Poll: Baby Boomers in No Rush to Retire

By Dan Weil   |   Tuesday, 21 Jan 2014 12:29 PM

Many baby boomers, those born from 1946 to 1964, aren't planning on retiring soon, according to a recent Gallup survey.

Of the 1,929 baby boomers Gallup surveyed from Dec. 6 through Dec. 29, 39 percent said they expect to retire at age 66 or older, 27 percent expect to retire at 64 or younger, 24 percent expect to retire at 65 and 10 percent expect to never retire.

Not surprisingly, money appears to play a large role in baby boomers' expectations of when they will retire. Those who strongly agree with the statement that they "have enough money to do everything [they] want to do" anticipate retiring at 66.

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Those who strongly disagree with the statement anticipate retiring at 73.

"Baby boomers will remain a sizable proportion of the work force in the years ahead, with many expecting to work past the average U.S. retirement age of 61 and even the traditional retirement age of 65," write Gallup's Jim Harter and Sangeeta Agrawal.

"As they continue to age and work, it is important that their organizations build workplaces with outstanding managers who leverage the experiences of older workers by positioning them to do what they do best — listening to their insights and opinions, and continuing to develop their talents into strengths."

Many older workers around the world aren't in good financial shape for retirement, experts say.

"The first wave of underprepared workers is going to try to go into retirement and will find they can't afford to do so," Norman Dreger, a Frankfurt-based retirement specialist for Mercer consulting firm, tells The Associated Press.

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