When the baby boomers were young, retirement seemed like something so far off that it was tough to imagine it. So many changes were ocurring in the world and there were so many other issues that were more pressing at the time that the thought of retirement did not seem like it was important. So why think about it? Civil rights and nuclear war were the important issues of the times.



Fast forward a few decades and many baby boomers have found themselves in an awkward situation. They have become the person they did not want to trust when they were younger. The boomers are close to retirement but many are not ready to take the leap, or more importantly, not willing to leave the working force in the near future. There could be many reasons why some aging baby boomers have no plans for retirement.

A job or a profession to some is what makes the person a member of the community. It makes the person feel important for the years of service given and the number of accomplishments one has achieved. These are things that some people hold on to which makes retirement hard to accept.

The psychological impact makes it hard for someone who has lived in a fast paced world to adjust to a life that is at a more leisurely pace. How many times have you heard that a person has died just a few months after retirement? The shift in pace may be the emotional trauma that killed them.

Another reason is perhaps the person who is still employed is just waiting for the right moment or package that the company will give out to its employees. Such issues are whether or not the retirement package that is being offered is higher than the projected earnings if one stays employed or if the retirement fund can be used immediately once it has been given. In other words, there are just to many factors to consider that it is easier and less scary to keep working.

Some aging baby boomers can get more just waiting for the normal retirement age than accepting the company's early retirement plan. Instead of saving, they could end up forfeiting and miss out on opportunities to make additional contributions to the plan.

The aging baby boomers who don't want to retire yet are also concerned if the offer given by the company includes post-retirement medical insurance. This is because Medicare doesn't start until one has reached the age of 65 and the cost of getting private insurance is getting more and more expensive. Most are just not able to afford the insurance that they would need.

The most important reason that will make some aging baby boomers stay on the job is that regardless of age, they strongly believe that they can contribute more to society being at a job then in retirement.