Baby boomers aren’t waiting to retire, according to a new study of baby boomers turning 65 last year. But for some of them it was poor health, not choice, that lead them into retirement, according to the research report by MetLife Mature Market Institute.
Almost one half (45%) of 65-year-old baby boomers are now fully retired, with another 14% reporting they are retired but working part-time or seasonally. Of those who are already retired, half (51%) report they retired earlier than expected.
Almost four in ten (37%) retired earlier than planned due to health reasons, with another 16% saying they lost their job or find a lack of job opportunities.
So while we read lots of articles about baby boomers working until they drop, it appears that they aren’t all that different than previous generations.