According to the Bureau of Labor Statistics, by the year 2014, an estimated 78 million Baby Boomers will retire from the workforce with only 600 000 workers entering to replace them.
Boomers are retooling, reentering school and looking for new skills to begin new careers.
Retirement is becoming more of a temporary segue into a new life, now increasingly known as the encore career.
A recent blog post for PennFoster.edu states, "It looks like retirement is becoming a thing of the past for the middle class. No more “winter condos” in Florida or retirement homes in Arizona. With the Social Security System in shambles and the status of our economy I guess it’s no wonder. Regardless, the next 5 to 10 years should be quite interesting!"
Source - Penn Foster career blog posting.