According to a recent study commissioned by Bankers Life Center for a Secure Retirement, a whopping seventy-two percent of America’s retired baby boomers are not currently working for pay in retirement.
But it’s not so they can spend their golden years on the golf course because 48 percent of them ”would like to work but cannot, due to their own health reasons (35 percent), the health of a loved one (5 percent) or because they can’t find a job (8 percent).”
The study – New Expectations, New Rewards: Work in Retirement for Middle-Income boomers – surveyed 1,005 middle-income boomers and 2,293 retired boomers aged 51 to 69 with an annual household income between $25,000 and $100,000.
Additional findings from the study:
* 69 percent)of retired boomers say they would have liked to have worked longer but find that they retired earlier than expected.
* Among those, 79 percent retired early for reasons that were not in their control, such as a personal health situation (39 percent), being laid off (19 percent) or could no longer perform their job (6 percent).