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Baby Boomers Look at Retirement

Baby Boomers are looking at retirement with the expectation of working. They have questions. The answer used to be “no way” when the line between work and retirement was very clear. People worked until age 65 or so, collected their gold watch, and headed for their easy chair and a well-deserved rest.

IF YOU’RE A BABY BOOMER LOOKING AT RETIREMENT, IT COULD BE A VERY LONG RIDE

According to RetirementLiving.com, “at least 10% of retirees today are going back to work, and the number of Baby Boomers looking at retirement either are holding jobs or are looking for work. This trend has been rising since about 1992, after dropping steadily for decades. Increasing life expectancies, the end of traditional pension plans and rising health-care costs help account for the change.”

A key question is how do you decide where to work in retirement? First, ask yourself, do you need the money? I’m sure you’ve heard the expression, “one can never be too thin or too rich.”

Baby Boomers are looking at retirement employment and the business world is responding and welcoming them with open arms. This ad appeared in the CHARLOTTE OBSERVER, March 9, 2008: “Prime Time…Retirees, experienced workers focus of new Career Builder site.” Now Career Builder has been around for quite some time now, but they, like every ongoing business, reassess the direction of their business, study their market base and survey their audience. The result of a recent survey of retirees revealed that mature workers are seeking employment and many employers are looking for their experience and expertise. So now Career Builder is accommodating those Baby Boomers looking at retirement with employment as an attractive way to offset increasing costs of living. The launch of PrimeCB.com boasts a job search site focused on connecting experienced and retired workers with potential employers.

“Boomers looking at retirement age may find themselves with too much time on their hands. Many are opting to continue working past the age of 65 because they love getting the job done,” said Marilyn Haefner, vice president of Human Resources for CareerBuilder.com.

Although this writer’s preference lies in the home-based business arena, I realize that many Baby Boomers looking at retirement might want to get out of the house. Working outside the home gives them social contact and mental stimulation that elders need to ‘feel alive’. I like to believe that becoming a boomer isn’t just a date – it’s a new life!

It seems that as much as workers over the age of 50 are thinking about their future employment, employers are also worrying about how the aging workforce’s retirement plans will affect the future of their companies. Again, according to CareerBuilder.com’s survey, “three-in-ten employers are concerned about the loss of intellectual capital at their organization due to the large number of workers approaching that Baby Boomer retirement status. Further, 22% of employers say given the shortage of qualified workers, they plan to rehire retirees from other companies in 2008; and 14% of employers plan to provide incentives for older workers to stay with the company longer.”

Here are some sample answers used by CareerBuilder.com when surveying Baby Boomers looking at retirement:

Conclusion

According to the AARP, nearly one-in-three U.S. workers will be over 50 by the year 2012. From this survey, many of the Baby Boomers looking at retirement will remain in the work force until they reach 70 years of age. Some will have the advantage, depending on their level of expertise, to be re-hired as consultants to train the younger, inexperienced work force. A wonderful, flexible plan!

I am hoping that some, like me, will take on the challenge of something new. Becoming a home-based entrepreneur can take on many forms…network marketing, online marketing, freelance copywriting or editing, morphing a life-long hobby into a business venture, or even forming a small group of friends, family or other like-minded people and forming a small LLC so you can be in business for yourself, but not by yourself. There are so many options for Baby Boomers looking at retirement today!

For more info visit PrimeCB.com or check out Senior Living.

Ruth Ann Hall is a mother, grandmother, and nearing retirement age. She was raised on a farm in west central Illinois, but calls Chicago home.

Her personal website: RookieMarketing.com is about her association with Ann Sieg Consulting and using the “consultative approach to marketing.” More information? Yes! Click Here.

Her latest project, this website, is intended to provide information for those looking to make a good decision on working from home.