There is much talk about boomers working later than our parents retirement age of 63. Many reasons are given, but here are a few:

-haven't saved enough
-longer life expectancy so we will need more money to live longer
-we are healthier and better able to keep working
-sheer desire to remain active

I think some of the people in our parent's generation retired too young. I'm not sure they realized they may have another 20 years of living left in them. That's a long time to live without a purpose for those whose self esteem was wrapped around their profession. I don't see where many of them have replaced their work with volunteer work, or other passions. I believe the boomers will remain active whether it's through work for pay or volunteering.

This is even more important than we imagine. To see older men sweeping floors in fast food joints and being bossed around by kids young as their grandkids and old women in the casinos cleaning toilets and cow towing to snotty women being treated like they are slaves. Even the so called better jobs are hard on old bones and eyesight and stamina. I have begged my mother to stay home but she is lucky enough to love her office job and they respect and love her there but this is rare in this day and age so take heed ladies, take care. And there is always a way around community property states when its YOUR money you'll find a way. Imagine sharing what you managed to scrape together for years with an ex thats just dumnped you for his cyber #@&* or some younger woman...not a pretty thought....heads up girls.

chatty, your mother is blessed to work in a loving environment. I'm sure that keeps her young and feeling appreciated. Why would she want to remove that from her life?

This, to me anyway, is where family kicks in. Taking care of elderly parents. With the threat of SS being gone and pensions disappearing, what are the retired folks supposed to do? It will be up to us to help them. I worry about those who have nobody to help.

If they are living in poverty, it is difficult for single women with children to provide for their present needs, let alone plan for the future. For many, FICA taxes deducted from the paycheck is the only pension plan they have. If they are on welfare, they do not have even that much and certainly cannot save any money.

Many people work hard for an early retirement so they can enjoy their later years travelling, fulfilling a dream, or just making their own schedule. Then their company goes bankrupt or decides to get rid of the pension plan.

There is the older homemaker without skills or a profession whose husband deserts her or dies.

Nowadays, a lot of people are wary of 401k plans, and one must have a large sum of money to start an IRA. However, if a person could manage to save $1000 to begin an IRA, it would be there when the job or company pension plan disappears. I understand it is better to not invest in the company one works for (as the Enron employees did) but to make low risk diverse investments in 401k plans.

Some are willing and able to work beyond retirement and do so, especially if their jobs are not physically demanding. Experience is a valuable asset.

However, the bodies of folks who do heavy physical work wear out earlier than the retirement age of 67. I believe, like Senator Bill Thomas, that these people should be able to retire earlier with full benefits. They do not usually live as long, anyhow.

I also believe strongly that the seniors who are financially able to retire should do so and let younger workers who need jobs replace them in the workplace. As some one already mentioned, there is a lot of volunteer work available.

Sometimes young people become disabled due to accidents or other circumstances beyond their control. Then there are those unfortunates who have always been mentally or physically disabled and are unable to plan for the future. Thank goodness for government programs and charities which sustain them.

I think that nowadays more young people are aware of retirement plan options than perhaps twenty years ago. Due to the Social Security crisis there is a lot more discussion of retirement plans in the various media which has been educational in nature.

Amen, amen, amen.

What a great topic.

I worry about getting older and not having enough money to live on. I rely on my husband's income while I'm paying my dues as an author (best seller one day soon!). What if something should happen to him? Could I go back into the work force and make enough money to support us? (I used to be a tech writer)

We're both fairly young (I'm in my 40's he's in his 30's) so we have a lot of saving still to do. We have separate IRA's and insurance policies.

The "what if's" could drive a person crazy.