Contrary to the popular wisdom that since the Great Recession, Boomers will continue to work past the age of 65, a MetLife Mature Market Institute study, Transitioning into Retirement: The MetLife Study of Baby Boomers at 65, shows that those born in 1946 are retiring en masse despite the perception that their retirement savings were ravaged during the financial collapse.
“Many of the Boomers weathered the recession well and have been able to stop working. Half of all Boomers feel confident that they are on track or have already hit their retirement goals,” said Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute.
Fifty-nine percent of the first Boomers to turn 65 are at least partially retired. Forty-five percent are completely retired and 14 percent are retired yet still working part-time. Of those still working, 37 percent will retire within the next year and none plan on working past 68.