"A study, released on Tuesday by workforce solutions company Manpower Group and conducted by surveyor Reputation Leaders, found that 12 percent of millennials around the word expect never to retire. In Japan, a whopping 37 percent said they think they'll work until they reach the grave ..." - Polly Mosendz, Bloomberg, May 25, 2016. Here is the article.
We Baby Boomers who continue to work past age 65 may be the first generation to do that in large numbers. After all, most of our parents died soon after they retired at that age. My father lasted until 67.
However, we will soon have lots of company in not even considering retirement as the reward for a lifetime of work. When I speak with Millennials in Tucson, Arizona, not one has any dream about working until a certain age, then doing what they want to do.
One had been out of work for more than a year. The job she nailed down with a non-profit pays $10 an hour. And she told me that she had to fight for that. Her previous jobs had been in call centers.
The tragedy of all this is that the cards are really stacked against Millennials. We Baby Boomers might have experienced some unexpected financial setbacks. But because of our previous experience, we can still bill out at a living wage. The Millennials don't have that kind of background. And most of them will never get a shot at the kinds of work experiences we had.