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44% of seniors still say they need the money, even if they also like work. That's a lot of folks.
Sep 03 16:42 pm
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All Comments by ObjectiveFunction »Aging of U.S. Workforce Accelerates During Recession [View article]
Consider also these choice quotes from a McKinsey & Co. publication on the Baby Boom from Oct 2008 (written pre-Crash):
"New McKinsey research reveals that 60 percent of boomers won’t be able to maintain a lifestyle close to their current one without continuing to work...
"50 percent of the generation’s population, controlling almost 25 percent of total US consumption by 2015—envision a comfortable retirement like that of the affluent but haven’t prepared for it....
"Our analysis also indicates that 60 percent of boomers will need to work just to maintain 80 percent of their current consumption and that more than 40 percent (29 million) will be working at age 65. That is twice the number of people from the silent generation who were working at the same age (14 million, or 30 percent). By 2015 more than onethird of the labor force will be over the age of 50."