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Will Aging Baby Boomers be Healthy Enough to Work?

The Baltimore Examiner, 10/31/08

Abstract:

There's an assumption that some baby boomers will continue to work past their normal retirement.

But that assumption begs the question: Will these baby boomers be healthy enough to continue working?

It's evident older baby boomers are entering a retirement crossroad — Retire? Continue to work? Yesterday's post noted that Baby Boomers who are approaching 62 and are eligible to start collecting Social Security will take the money and run, rather than wait until 66 or later. There is also evidence of the aging Boomers who have no intention of retiring because they want to work for altruistic fulfillment or for financial reasons driven by a Wall Street mess that has threatened many a nest egg.

A new brief from the Center for Retirement Research at Boston College — entitled "Are Older Men Health Enough to Work" — raises some troubling issues for the older Baby Boomers who plan to work well into their 60s and possibly beyond.

The brief, which focuses on men only , notes that the average retirement age in the country has dropped from 66 to 63 since the 1960s. In the meantime, the brief notes, mortality rates have decreased. So we have a case where people are living longer yet retiring younger. Yet, circumstances are changing, prompting a need in some to delay that retirement.

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