Are boomers holding their children back? Probably not. It’s a well-reported fact that the recession has older adults staying in the work force longer, hogging all the jobs for younger workers. But, according to Pew Research, that trend started long before the recession took hold and isn’t likely to ease up anytime soon.
While the economy has certainly played a part in retirement plans – nearly 40 percent of workers past 62 say they have delayed retirement because of it – the majority of older workers are staying in the work force simply because they want to. Only 17 percent say they need the money, and 27 percent say it is a serendipitous mix of wants and needs.