Baby Boomers and Retirement

“Optimism doesn’t wait on facts. It deals with prospects. Pessimism is a waste of time.” – Norman Cousins

Baby Boomer Retirement Facts

Several months ago, Forbes published an article titled “Are Baby Boomers too optimistic about retirement?”1.  I have provided the link so that you may read the entire article but I want to summarize the findings presented in the article here.

empty benchFirst and foremost 69% of middle-income retirees would have liked to have worked longer in their careers. Of those who left earlier than they planned to, 39% left because of health problems and 19% were laid off. When asking if people still working in their primary careers say they’d be “willing to take a pay cut” when they move on to another job, only about 21% said they would. Unfortunately, 72% of current retirees surveyed reported earning less than they did in their old careers. In fact, 53% say they earn “much less”.

It is not all bad news. The study2 referenced in the article had a lot of good things to say about working retirees.  In the first place, 61% of people working in retirement are working because they want to, not because they have to. Nearly nine out of ten have work arrangements other than full time. A little more than 4 out of 10 are self employed or small business owners.  More than three-quarters of employed retirees are as satisfied or more satisfied with their new job and also report less stress and better relationships than nonworking retirees.

For nonretired Boomers, 60% expect to retire at 66 or later or never expect to retire and 60% plan to do some kind of work for pay. Approximately four in 10 employed retirees have completed work-related classes, education or training since retiring, including those who pursued training on their own. More than one-half employed retired Boomers changed industries. The truth is, we just do not want to grow old the way our parents did.

Retirement Opportunities

One of the best ways to determine what you will be looking for in retirement is to have a written plan. The first questions to address are:canoes on a beach

  1. What is my ideal day?
  2. What does my ideal week look like?
  3. How much will that cost?
  4. Where will the money come from?
  5. What are my social relationships?
  6. How will I maintain them?
  7. What are you doing now to maintain your health?
  8. How do you plan on continuing to maintain your health?

Robert Laura has written a book – “Naked Retirement” to help you address the questions above in a thoughtful way.

The Transamerica Center for Retirement Studies has published “Baby Boomer workers are revolutionizing retirement: Are they and their employers ready?” has published six ways for Boomers to improve their retirement outlook. The very first way to improve your retirement outlook is to remain employed. To do this we Baby Boomers need to:riding a bike

  1. Stay healthy so that we can work
  2. Perform well at our current jobs
  3. Keep job skills up-to-date
  4. Network and meet new people
  5. Scope out the employment market and opportunities available
  6. Go back to school and learn new skills.

I will quickly list the other five ways for Boomers to improve their retirement outlook. These will probably be the subjects of future blogs. The remaining ways are:

  • Calculate savings and retirement income needs
  • Develop a written strategy for retirement
  • Consider seeking guidance from a professional advisor
  • Open up a frank dialogue about retirement with family
  • Create a Plan B

The rest of this post will be on employment after retirement.

Retirement Employment Opportunities

For those of us who make it to 65, the majority will make it to 80. Clearly social security will not support our working-age income levels.  The need for retirement employment opportunities is so great that there are now employment agencies targeting retirement jobs. According to AARP there are many work-at-home jobs available for retirees.  They include customer service representatives, online jurors, being a virtual assistant, serving as an online tutor, and acting as a writer/editor.  Median pay range for these jobs can vary from $9 to $40 per hour.

Wouldn’t you rather invent your own retirement? Nielsen reports that we Baby Boomers account for 44% of the US population and are projected to hold 70% of the US disposable income and by 49% of total consumer-packaged goods.4 In 2012 the 50+ segment of the population represented close to 100 million consumers. We are expected to grow by 35% by 2030. We accounted for $230 billion in sales for consumer packaged goods. We represent 33% of all online users and spend between 22 and 29 hours a month on the internet. We are, far and away, the best cohort to market.

Baby Boomers are my cohort and according to Malcolm Gladwell’s personality types, I am a maven. I really do want to help solve other people’s problems (usually by solving my own). These facts make my choice for solving my retirement employment opportunity a “no-brainer”.

library booksMy goal, over the next seven years is to become the best internet marketer around for my peers. Because less than 5% of the advertising dollars are targeted for our age group, there is dire need for information and products that will continue to support our lifestyle as we grow older. I have found, without a doubt, the best way to educate myself on how to market information to my cohort group is Wealthy Affiliate. Far and away, this is the best affiliate marketing education out there. While you can start your education for free, to fully understand how to market you will need to enroll. The community that exists in this online school is one of the best I have ever encountered and there is no doubt in my mind that with the support of the founders and the established community, I will be successful.

  1. Anne Fisher, August 7, 2015. Are Baby Boomers too optimistic about retirement?
  2. Bankers Life Center for a Secure Retirement. May 2015. New Expectations, New Rewards: Work in Retirement for Middle-income Boomers.
  3. Transamerica Center for Retirement Studies. December 2014. Baby Boomer Workers are Revolutionizing Retirement: Are They and Their Employers Ready?
  4. Nielsen and BoomAgers. 2012. Introducing Boomers; Marketing’s Most Valuable Generation.


  1. Alex

    Hello Susan,

    Great article, I thoroughly enjoyed it.

    I’ll absolutely be looking more into your website because I love reading about investing, retirement solutions, and wealth accumulation. Although, I’m not a baby boomer yet I don’t think it’s ever too early to start thinking about retirement.

    Again… Great read. Thank for the post

  2. Cameron

    Hello Susan
    I am 20 years old and was looking for a way to be able to not work two pt jobs in order to just support myself. With growing costs and education rates now is the best time to invest in yourself. How I look at income used to be you have to work really hard for what you earn. Just 3 months ago I realized the truth, that you can earn money online while you are sleeping through wealthy affiliate. Granted the journey takes time, but not having enough money for retirement on top of current expenses can be a very difficult truth to face.

  3. Kellie


    I can definitely attest to this. My husband and I are looking at retirement soon. Our age difference is just enough so that he falls into the baby boomer category while I am just outside of it. However, I still find myself wanting to find a way to supplement our income when he retires so I can be at home with him more. That is how I came to work online, and once my husband is fully retired in a few years, I will bring him into the online world as well.

    There is no better way to create security than to start your own online business as an affiliate. I hope baby boomers looking for solutions will come to find your site and really think about how they would like to spend the rest of their working life. My personal opinion, after 50 years, it is time to work for YOU and not someone else.

    Thanks for sharing. I look forward to following you.

    • Susan

      Thank you Kellie, Gook luck in your affiliate business. Certainly many of us will need to supplement our income or downsize dramatically. I believe that affiliate marketing will support us all.

  4. Dan

    Hi, Susan. I am 52 am now am looking for a new career because of a layoff. I am hoping to have enough retirement income by building websites the Wealthy Affiliate way. Currently, I have a website I am working on and it keeps getting bigger each week. I am worried that I will not have enough money for retirement so I will keep on building. Have a good weekend.

    • Susan

      Thanks for visiting my site. Internet purchasing is becoming stronger and stronger every year. Learning to market on the internet can only be a good thing. Good luck with your new endeavor. I am sure that by using Wealthy Affiliate techniques success is on its way.

  5. angelce903

    Hello! Yes, unfortunately baby boomers show us the way for retirement as we were taught that we should get a job, and we will have a nice retirement in the end. But guess what? We are linving an economic crisis and a shift through what Robert Kiyosaki calls the “Information Age”. We can’t just have the same patterns than our grand parents before. That’s why I am also happy to have found WA, so that I can take my Financial future in charge and not count on the government! Stay in peace!

    • Susan

      I absolutely agree. My husband and I were students of Robert Kiyosaki’s for a while and began our real estate business as a result of working with him. We have never regretted it. I plan to write some future articles on the prosperity and satisfaction we feel from that business. Wealthy Affiliates also provides us with a way to take charge of our own financial future. I hope other folks will consider joining our community.

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