During the Great Recession, economists began postulating that baby boomers might never be able to retire, but a Gallup poll released earlier this week may prove them wrong.
According to Gallup, only about one-third of the oldest boomers (aged 67 and 68) are active in the workforce. That percentage is in line with retirement rates of pre-boomers four years ago.
The fact that baby boomers are retiring in a predictable historical pattern means that a shortage of workers may be a challenge to businesses that have been counting on older workers in the coming years; plus, fewer workers will be around to contribute to Social Security and Medicare.
A larger retiree base could impact social patterns, such as leisure, politics and shopping. Another interesting poll finding: Male boomers are retiring earlier than female boomers.
What do you think? Email conniepost@coxinc.com
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