We can now legally work past 65 years of age and this is in step with the costs of living longer. “A century ago the duration of retirement was expected to be only a few years, and many people never lived long enough to experience it. It is interesting to consider that given the increases in human longevity, retirement can potentially last as long as our working life. “The biggest financial risk we face in retirement today is outliving our savings; a century ago the biggest retirement risk was dying too young.” (Alger, 2013)


Boomers may continue to work to contribute and stay connected, but significant numbers will do so out of economic necessity. Bestselling author Kimberly Foss (2013), advises “Saving up enough money to pay for a 30-year retirement is a daunting prospect. Many Americans don’t have enough money to retire in this ultra-low interest rate environment.”

Zoomermedia Limited (2012) informs us “Data from Statistics Canada and the US Bureau of Labor Statistics confirms that a growing number of people are not retiring at age 65. In Canada, the percentage of participation in the labor force by people age 55 and up is at an all-time high. Experts believe the trend will continue, permanently wiping out the idea that 65 is a magic number signifying the end of the income-earning years. In both Canada and the USA, about 30% of people aged 65-69 are still working, either full time or part time. That age break captures only a tiny percentage of Baby Boomers, the oldest of whom just entered retirement age. The rest of the wave – now aged 47 to 64 – are still outside that traditional retirement benchmark. What will they do when they hit the number? The research is clear: they’ll keep right on working.”

What does a unretired Baby Boomer who needs or wants to successfully stay employed up to and beyond 65 years of age need to manage? I will answer this in the next post, when time permits..