Why Aren’t Boomers Retiring? 13 Boomers Answer the Question.

senior couple playing mini golf enjoying a retired lifestyle

In this collection of insights from social media users, we explore the question of why many Baby Boomers are postponing their retirement. These 15 responses provide a multifaceted look at the challenges and reasons behind their decision to keep working, shedding light on financial struggles, changing work dynamics, and the pursuit of a fulfilling retirement lifestyle.

Featured Image Credit: resnick_joshua1 /Depositphotos.com.

#1 “Many of us can’t afford to retire.”

Shopaholic. economy and crisis concept. Female housewife has financial problem. girl need loan or credit. income planning. angry woman hold wallet with money. shopper girl save budget.
Image Credit: stetsik /Depositphotos.com.

“Many of us can’t afford to retire. While we’ve been ‘sucking up all the resources’ so the younger generation has to go without, we got a few surprises along the way that most of you are unaware of. Around age 40–50, many of us Boomers found out that the pensions we were promised when we were hired were being eliminated. Those older than us and nearing retirement got grandfathered in, but the more junior employees saw our pensions go away. Instead, they came out with something called a 401k Plan. This was in the late 1980’s to early 1990’s. At first, the companies told us they would match our contributions to the plans dollar for dollar. It wasn’t long, however, before they cut it to 50 cents on the dollar – then less; a classic case of “bait and switch”. Of course, there was a cap on percentage of income one could contribute, as well as a cap on how much the company would contribute, as well.”

#2 Retired With Side Hustles

Shocked senior disabled man in wheelchair using laptop
Image Credit: IgorVetushko /Depositphotos.com.

“Who said we weren’t? Most of my friends are retired. Most of us also have side hustles because between 65 (or, in some cases, 62) and death lie a whole lot of years that need to be filled with something other than daytime TV and day drinking.”

#3 “Many boomers didn’t save money for retirement.”

Coin piggy bank and money tower columns on white background
Image Credit: Paulpaladin /Depositphotos.com.

“They can’t. Many boomers didn’t save money for retirement, or if they did, they didn’t save enough, either because they miscalculated or because they didn’t make enough money to save enough money so that they could retire.”

#4 “We enjoy working.”

Portrait of senior woman.Casual
Image Credit: Hriana /Depositphotos.com.

“We enjoy working. We talk with old friends and make new ones. Right now I’m laying on the couch and that is the one action I try to avoid. so I work part time. It fills my needs.”

#5 Competition Is Fierce

Everyone needs something from me today. a young businesswoman feeling stressed out in a demanding office environment at work
Image Credit: PeopleImages.com /Depositphotos.com.

“I’m a boomer who was born several years after the baby boom started. I graduated from high school into a recession (sound familiar) and had to compete with millions upon millions of other baby boomers for what few jobs there were.”

#6 “The cost of living has climbed steeply.”

Tiny shopping cart on the red background with space for text
Image Credit: golib.tolibov.gmail.com /Depositphotos.com.

“Baby boomers cannot always afford to retire. They are expecting to live longer than the past generation. The cost of living has climbed steeply during their lives.”

#7 “No pension.”

US Currency in Closeup (selective focus)
Image Credit: Kuzmafoto /Depositphotos.com.

“No pension. Lost their job at age 50 due to downsizing or offshoring or just plain company greed. Greatly reduced pension after company bankruptcy, see airlines.”

#8 Companies Don’t Want To Pay

Young handsome businessman employee working in office in paperwork concept
Image Credit: Elnur_ /Depositphotos.com.

“They began phasing out dedicated pensions and those that do have them are finding them cut back as the companies deliberately went out of business so they wouldn’t have to pay into them.”

#9 We Had Kids

Keep smiling. Attentive girl leaning on table while blowing candles
Image Credit: Dmyrto_Z /Depositphotos.com.

“We helped pay for our children’s education and their weddings and helped them through their starts in life. But we took money out of our savings to do that and the kids aren’t ready to pay us back yet.”

#10 Some of Us Have To Work

Free New Remove BG Save Share Sample New Doctor talking by phone
Image Credit: IgorVetushko /Depositphotos.com.

“Last year, my beloved neighbor’s husband died. They were both retired and owned a house (fully paid). The lady never worked (homemaker). After her husband’s death, she doesn’t get any pension, just $600–$700. She has to pay 300–400pm utilities and 400 pm property tax plus $500 pm for her food. Can she manage to pay $1300–1500 pm with her $600 pm? NO.” She has to work.

#11 No Inheritance

Senior woman in hospital bed
Image Credit: AndreyBezuglov /Depositphotos.com.

“I retired, but I’m one of the lucky ones owing to an inheritance. Many of my contemporaries cannot afford to retire. They didn’t inherit money, lived paycheck to paycheck for decades, didn’t save money, or had their savings wiped out in the crashes of 2001 or 2008.”

#12 Work Is Better Than Boredom

Front view portrait of a bored woman in a bar looking at you a sad winter day
Image Credit: AntonioGuillemF /Depositphotos.com.

“There are two distinct reasons that may keep people at work. One is that they cannot afford to retire, the other is they may get far more out of working than out of mooching around doing bugger-all.”

#13 Plenty of Other Work Besides a Career

Displeased woman holding knife and fork during thanksgiving
Image Credit: RostyslavOleksin /Depositphotos.com.

“I’m retired from my teaching career. I’m not retired from running the farm I bought for myself for my 50th birthday. I’m not retired from making a very good living trading stocks and bonds.”

10 Things That Will Fade Away as the Baby Boomer Generation Bows Out

Vintage 1960 woman in convertible car looking over sunglasses.
Image Credit: ysbrand /Depositphotos.com.

The winds of change are upon us, and as the baby boomer generation slowly makes its way into their senior years, many users agree that there are certain aspects of life that will inevitably fade into the past. The generational shift is bound to bring about transformations that might leave us both nostalgic and relieved.

10 Things That Will Fade Away as the Baby Boomer Generation Bows Out

18 Things Millennials Do That Annoy Boomers

Girl wearing noise-cancelling headphones and holding the headphones on her ears, smiling.
Image Credit: EdZbarzhyvetsky /Depositphotos.com.

Millennials, also known as Generation Y, are the demographic cohort born between 1981 and 1996. They have grown up in a world that is vastly different from that of their parents and grandparents, the Baby Boomers. As a result, there are certain behaviors and attitudes that Millennials exhibit that can be perceived as annoying by Boomers.

18 Things Millennials Do That Annoy Boomers

13 Things That Were Once Highly Respected But Is Now a Complete Joke

Close-up of confident soldier against american flag
Image Credit: Wavebreakmedia /Depositphotos.com.

We scoured social media threads to bring you the most candid and honest responses from real people. From the mundane to the shocking, we have compiled a comprehensive list of the things that were once highly respected but is now a complete and utter joke.

13 Things That Were Once Highly Respected But Is Now a Complete Joke

11 Old-School Etiquette Rules You Don’t Need To Follow Anymore (And 3 You Do)

A creative vintage photo of a beautiful pin-up girl drinking tea and showing good table manners on colorful abstract cartoon style background.
Image Credit: fisher.photostudio /Depositphotos.com.

In a rapidly changing world, social norms and etiquette have evolved significantly over the years. What was once considered proper and polite may now seem outdated and unnecessary. While some old-school etiquette rules still hold value today, others have become obsolete.

11 Old-School Etiquette Rules You Don’t Need To Follow Anymore (And 3 You Do)

22 Things Non-Boomers Share That Makes Them a Complete Boomer

Photo of excited nice woman in striped dress grabbing her head and expressing surprise isolated over blue wall
Image Credit: Vadymvdrobot /Depositphotos.com.

A social media post asked folks to share what makes them feel like total “boomers” even as they embrace the digital age. Their responses were both amusing and relatable, proving that no matter how advanced we become, some things will always have us shaking our heads.

22 Things Non-Boomers Share That Makes Them a Complete Boomer

DISCLOSURE: The post may contain affiliate links, which means that I may receive a small commission if you make a purchase using these links. As an Amazon Associate I earn from qualifying purchases. You can read our affiliate disclosure in our privacy policy. This site is not intending to provide financial advice. This is for entertainment only.

Pri Kingston

Ash & Pri are the Founders of AshandPri.com and have spent the last decade building their way towards financial freedom and a lifetime of memories. Having successfully achieved their early retirement goal in under 10 years, they look forward to sharing their financial sense with like-minded people. Read more about Ash & Pri in the 'About Us' section.