Baby Boomers Are Less Likely Than Previous Generations to Retire

A TD Ameritrade survey of 2,000 adults found most Americans are planning to work past a traditional retirement age, and one in three respondents intend plan to work at least part-time in retirement, reports the Atlanta Journal-Constitution . Roughly 40 percent of respondents in their 40s and 50s said they will continue working in retirement, even if there is no financial reason for doing so. "Gone are the days of retirement being seen as an essential, defined life stage, where an employee could expect to work for a company long-term and be taken care of after retiring," noted TD Ameritrade's Christine Russell. However, baby boomers remaining employed longer may leave younger generations with fewer opportunities for promotion, and the accompanying financial incentives. "The concept of retirement is evolving," Russell said. "It's not just about finances. The value of work is also driving folks to continue working past retirement."