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Baby Boomers: Most will Work Past 65

Gelman, Rosenberg & Freedman CPAs is a member of CPAmerica International, an association of CPA and consulting firms that provides industry knowledge including insightful articles, to help member firms serve clients and other individuals and organizations.

The recession has had a significant impact on the retirement plans of many Americans – 54 percent of Baby Boomers now say they will work past 65.

older worker

A new study by Robert Half International shows that nearly three of four Baby Boomers said the recession has had some impact on their retirement plans. And the Workplace Redefined survey of nearly 1,500 working adults found that today’s workers most value working for a stable company and having job security.

Today’s workers are also focused on enhancing their skills to make them more employable. Nearly 4 in 10 workers in the Gen X generation, ages 34 to 48, plan to enhance their skill set, and 35 percent of Gen Y, age 33 and under. About 29 percent of Baby Boomers said they planned to do more training.

Post-recession, a large percentage of Gen Y employees hope to make a move to a new company – 36 percent. Just 24 percent of Baby Boomers want to change companies, and 30 percent of Gen Y.

Bob Albrecht has been our auditor for almost a decade for very real reasons.  He is a true professional who takes a pragmatic approach to operating in the most difficult of environments.