Nearly 6 in 10 baby boomers in the Midwest plan to work beyond age 65. And most of them are happy to do so, according to a new study commissioned by Bankers Life Center for a Secure Retirement.
The study, “New Expectations, New Rewards: Work in Retirement for Middle-Income Boomers,” surveyed 1,005 middle-income boomers (261 from Midwest) and 2,293 retired boomers (581 from Midwest) aged 51 to 69 with an annual household income between $25,000 and $100,000.
Of the Midwest boomers currently employed, almost two-thirds (65 percent) are working because they want to, not because they must. That’s four percentage points higher than their counterparts across the country.
Those who are working voluntarily do so to stay mentally alert (16 percent), remain physically active (16 percent) or to have a sense of purpose (15 percent).