Tuesday, October 14, 2008
Baby Boomers and the New Retirement
The monthly newsletter from the National Association of Workforce Development Professionals (www.nawdp.org), shed more light on what Baby Boomers seek in retirement.
Here are some of the highlights from the article:
- According to Stephen Carter and Joan Strewler-Carter, founders of Life Options Institute, the Baby Boomer generation is one of "over-achievers; a generation that will not stop working altogether in the traditional sense - nor will they want to keep working full time."
- A 2006 New Retirement Study from Merrill Lynch showed that 71% of Baby Boomers said they would continue to work after retirement. Merrill Lynch of course was one of those companies that contributed to job losses on Wall Street, during the current financial crisis.
- Companies are offering pending retirees opportunities to work in other divisions of the company under generous and negotiable employment contracts.
If you are planning for retirement as well, or a personal career bailout as I call it, you should check out the resources from The Life Options Institute.
One of the valuable bits of information I found on their website:
Industries Where Baby Boomers are Heading After Retirement—
From Businessweek October 2006
-Financial Services (this may be evolving with all the job losses on Wall Street)
-Science and Education