Resources - Mature Market Headlines

Living to Work, or Working to Live?

Forbes, 8/10/07

Abstract:

Retiring to a golf community and living the easy life has been one version of the American Dream.

But how many years can one person play golf for?

That's something many of the 76 million baby boomers are contending with as they reach retirement age. Some people will never tire of it. But for a growing number of folks, the idea of playing bridge, tennis and golf for 20 years is, in a word, boring. Meanwhile, companies are frantically figuring out how to deal with the loss of institutional knowledge that comes with the huge number of employees who are reaching the typical age of retirement. In many companies, 50 percent of managers and other key employees will be eligible to retire by 2010, and 70 percent by 2015.

In his new book, "70: The New 50," William C. Byham reports that some companies and workers are figuring out how to make both parties happy. The projected life expectancy of a baby boomer who is 60 is 83. But, as Byham reports, not only are people living longer, age doesn't mean the same thing it used to.

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