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Keep Baby Boomers on the Job Past Retirement Age

  • Published: 2010-12-28 : Home Instead Senior Care.
  • Synopsis: As Baby Boomers begin to turn 65 Americans believe they should be encouraged to work past normal retirement age

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As Baby Boomers begin to turn 65 on January 1, 71 percent of Americans believe they should be encouraged to work past normal retirement age, according to survey conducted by the Marist College Institute for Public Opinion.

At the same time, 69 percent of Americans - including 71 percent of Gen-Xers and 61 percent of Millennials - say they have a responsibility to provide for those who retire before them. The national survey, "The New Reality of 2011: Baby Boomers at 65," was commissioned by Home Instead Senior Care and provides a multi-generational perspective as those born into America's post-World War II population explosion reach retirement age.

Home Instead CEO Roger Baumgart said, "We are encouraged to see there is opportunity for intergenerational collaboration to ensure that seniors in America age successfully."

The greatest concerns of Baby Boomers - 77 million Americans born between January 1, 1946, and December 31, 1964 - about life after 65 are finances (48 percent) and health (34 percent).

While most Americans believe they should provide for retirees, many fear our society and economy will pay a stiff price for the post-war population explosion. Some 61 percent worry that Baby Boomers will bankrupt Social Security, while 59 percent believe the needs of aging Boomers may overload the healthcare system.

Younger generations diverge from their elders in some key areas. Thirty-one percent of Millennials feel that Boomers should be encouraged to retire, versus just 8 percent of the Silent-Greatest generation and 16 percent of Boomers themselves. Likewise, 37 percent of Millennials believe they should bear no responsibility to provide for retirees.

The report details the findings from a telephone survey taken between December 2 and December 8, 2010, of 1,029 adults in the continental U.S., and has a margin of error of plus or minus 3 percentage points.

For full results, visit HomeInstead.com. For technical questions, contact Lee Meringoff, Director of the Marist Institute for Public Opinion, at (845) 575-5050.

ABOUT HOME INSTEAD SENIOR CARE

Founded in 1994, the Home Instead Senior Care(r) network is the world's largest provider of non-medical in-home care services for seniors, with more than 900 independent franchises in 14 countries. Home Instead local offices employ 65,000+ CAREGivers(SM) who each year provide more than 40 million hours of client service, including companionship, meal preparation, medication reminders, light housekeeping, errands and shopping. Founders Paul and Lori Hogan pioneered franchising in the non-medical senior care industry and are leading advocates for senior issues.

ABOUT MARIST COLLEGE INSTITUTE FOR PUBLIC OPINION

The Marist College Institute for Public Opinion has conducted research on public priorities, elections, and a wide variety of social issues, building a legacy of independence, reliability, and accuracy. Its results are distributed throughout the world.



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