Why do Baby Boomers retire?

Posted by on Feb 5, 2015 in Baby Boomers | 0 comments

Marine Cole in The Fiscal Times lists surprising reasons why Baby Boomers retire. It’s about money, right?

Wrong!

According to Ms. Cole and a recent online study, here are the reasons Boomers retire:

It’s time to enjoy life (35 percent)
Don’t want to work anymore (16 percent)
Forced out by employer or given early retirement incentive (16 percent)
Reached my retirement savings goal (12 percent)

In typical Boomer fashion, 51% decided to retire for personal pleasure. Having enough money saved came in a dim fourth!

Generational characteristics, formed by the historic events that occurred during a generation’s formative years, never change. Young, middle-aged or older, Boomers will always be the “ME” generation!