Boomers May Never Give Up

This will no doubt spark more vitriol towards the Boomers. CNBC has a piece that suggests they may never retire.

A study of wealthy individuals around the world conducted by Barclays pokes holes in the notion that an individual should stop working at a pre-defined age, as it is more of an illusion than a reality.

The study found that increasingly, the wealthy are rejecting the idea of a traditional retirement—the romanticized golden years filled with leisure—and continuing to work long past their early 60s.

Forget the wealthy. The Boomers are so freaked out by the economy and government excess that they are quickly coming to the conclusion that whether they want to or not, the only safe course is to continue generating income. Oblivious to the precarious state of pensions and Social Security they are not.

Take a look at the entire article and don’t assume off-hand that this trend steals jobs from younger workers. As the author points out, it may well be that an engaged, older work force will add to economic growth as opposed to just crowding out other workers.

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