Alert
Close

AARP hosts National Caregiving Forum on Wednesday, July 8, at 11:30 a.m. ET. Watch here

Highlights

Open

 

Contests and
Sweeps

Free Fun!

AARP Games - Play Now!

PROGRAMS & resources

Best Employers for Workers Over 50

Check out the winners list and latest news about this AARP recognition program.

Employer Resource Center

Attract and retain top talent in a changing workforce.

Your Own Business

Information for business owners, entrepreneurs and the self-employed.

webinars

Learn From the Experts

Sign up now for an upcoming webinar or find materials from a past session. 

Most Popular
Articles

Viewed

Baby Boomers Report No Savings at All

With fewer pensions and more debt, they face retirement challenges their parents didn't

By some projections, boomers will need between $200,000 and $500,000 during retirement to pay for deductibles and expenses not covered by Medicare, including dental care, hearing aids and other treatment.

Social Security benefits won't go as far, either. In 2002, benefits replaced 39 percent of the average retirees salary, and that will decline to 28 percent in 2030, when the youngest boomers reach full retirement age, according to the Center for Retirement Research at Boston College.

"When people retire today, their standard of living is more likely to fall compared with those who retired 30 years ago," says Johnson of the Urban Institute.

"Also, the process of retiring has become more complex," Johnson says. "It used to be people left their jobs and moved into full-time retirement. Now people are phasing in retirement, switching to part-time jobs, moving from full retirement back into the labor force. That's not something you saw nearly as much in 1980s."

Working longer to afford retirement

In 1985, just over 18 percent of people ages 65 to 69 were in the labor force. By 2010, the percentage of workers in that age group nearly doubled to 32 percent, says Sara Rix, a senior strategic policy adviser at AARP.

She predicts that the generation that came of age in the 1960s will embrace advances in technology, stay fit and healthy well into their later years, and won't likely compromise on how they want to live their lives in retirement.

"I don't see boomers scaling back or willing to do without the way their parents' generation did," Rix says. "They're going to continue working so they can ultimately afford the retirement they want."

Carole Fleck is a senior editor at the AARP Bulletin.

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts

Processing

Please wait...

progress bar, please wait

Tell Us WhatYou Think

Please leave your comment below.

Advertisement

Jobs You Might Like

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

Member Benefits AT&T Wireless Cell Phone

Members save 10% on monthly usage charges on qualified AT&T wireless plans.

membership adt

Small business owners save 20% on new installation of any new ADT security system.

UPS Store membership discount aarp benefits

Members save 15% on eligible products/services and 5% on UPS shipping at The UPS Store®.

Member Benefits

Renew today! Members receive exclusive member benefits & affect social change.

Rewards for Good

Your Points Balance:

Learn More

Earn points for completing free online activities designed to enrich your life.

Find more ways to earn points

Redeem your points to save on merchandise, travel, and more.

Find more ways to redeem points

Advertisement

Advance your skills. Transform your career.

Explore your learning possibilities.