Boomers keep on working

Marketplace Staff Oct 17, 2006
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Boomers keep on working

Marketplace Staff Oct 17, 2006
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LISA NAPOLI: A new study finds a quarter of all Baby Boomers aren’t planning to retire. The findings are mixed news for the group that commissioned them: the National Association of Realtors. From Chicago, Diantha Parker reports.


DIANTHA PARKER: The Realtor’s Association did the research in hopes of predicting how much property Boomers might buy in their golden years.

The answer: not as much as you might expect.

Many Boomers don’t have the money or the desire to stop working, says Boston University economist Larry Kotlikoff. But, he expects many will find a way.

LARRY KOTLIKOFF: People might be saying gee I don’t need to retire can work till I’m 75, ’til I drop, but the fact of the matter is we don’t see that right now among, you know, people that are in their late 50s, early 60s. They’re retiring.

40 percent of respondents already own vacation homes where they plan to retire — or whatever they want to call it.

In Chicago, I’m Diantha Parker for Marketplace.

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