Some baby boomers continue working into their later
years because their work is fulfilling, they like the continued interaction
with colleagues, and/or they still have much to contribute. Others (a growing
segment) continue working because they have inadequate financial resources to
fund a lengthy retirement.
One would think that, as baby boomers retire, more
of their jobs will open to millennials but I don’t know of any formal studies
that have tried to quantify it. The nature of work and types of jobs also
change over time…so in some sectors, it’s possible that a job held by a baby
boomer in 2005 won’t even exist in 2018 for the millennial.
Many baby boomers were expected to retire on or around 2008 and since the Great Recession many have decided to work longer. Over the next few years you may see a drop off of baby boomers in the workforce to make way for millennials.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.