Millennials aren't going to spend their youth and middle years pinching pennies, worried about having enough for retirement. Instead, found a survey by Scottrade, they were going to enjoy life. And 70% indicated they will simply keep working when normal retirement age comes around. In fact, they plan to derive about 46% of what they are to live from doing that old-fashioned thing: working. Here are details from BusinessInsider.
We Baby Boomers are preparing that path for them. A growing number of us continue to work after we end our careers. Or at least cut back on how much time and effort we put into what we used to do 80 hours a week. And society is accommodating us.
For instance, big employers like Home Depot go out of their way to recruit the aging. At a Tucson, Arizona, Home Depot, one employee was celebrating his 80th birthday. I was in that store because, at 70 years old, I was doing an assignment for a vendor serving Home Depot. Here on E. Roger and 1st, in Fry's Supermarket, whose parent is Kroger, there is more and more gray hair at the check out. The manager is no spring chicken either.
The reality is that I don't know what I would do if I weren't still working. I never developed engrossing hobbies that could hold me together. The beauty of the new arrangement, though, is that I don't have to earn enough to make ends meet. I have other sources of retirement income. Also, debt is down to about $3,300. And I have built up again a nest egg.
We Baby Boomers who have the cognitive capacity and the health to continue to work are blessed.