Retirement for baby boomers is not coming any time soon. Happy Birthday, baby boomers, the first wave of you are now over the age of 65. Numerous studies have shown that retirement physically and emotionally has benefits for the elderly, sadly retirement today means getting a second job. A longitudinal study of French workers implied that retirement reduces the severity of depressive symptoms and fatigue, especially among workers with chronic diseases. Reduction in mental fatigue was larger in males, employees who retired at 55 years of age or younger and employees married or living with a partner. Reduction in physical fatigue was larger among females and employees that retired before the age of 55. In this study, 72 percent of the employees had retired between the ages of 53 and 57, in the US we don’t get to retire until 65. However, a study conducted in the United States also showed improved mental health among employees who retired in their 60s.
In more birthday news, you can’t retire. Well you can, as long as you get another job. Preferably with health insurance. Retirement in the U.S. usually involves Social Security, employer pensions and private savings. In today’s world, all three are being threatened. Many people lost their personal investments. With companies going bankrupt employee pensions were threatened. Social Security should probably drop the word “security” very soon. It’s a scary time for baby boomers. A 1991 study found that more than half off all bankruptcy cases were baby boomers. Half.
Again, Happy Birthday, baby boomers. We can’t let you “retire”, but for your birthday present we’re going to get you bus passes to Mexico and Canada so you can get your prescriptions filled.