Baby Boomers Working Later & Enjoying Freedom

According to a recent study by Investors Group, many baby boomers and middle aged people are concerned about health care and a lack of companionship but are generally happy about having the freedom to do whatever they want and being able to make their own financial decisions.

The main findings from the national study suggest:

• 89% of baby boomers like being able “to do whatever they want”
• 40% of single boomers don’t have a financial plan
• 43% of baby boomers will likely retire later in life because they are single
• 28% of baby boomers plan to work past the ages of 60 to 65,
• 46% of female and 47% of male baby boomers say being single allows them to focus exclusively on career goals
• 80% of single baby boomers value their ability to choose the friends they want
• 60% of baby boomers like going to bed whenever they want
• 67% of baby boomers like having the ability to take holidays to their own preferred locations
• 62% of baby boomers said lack of companionship is a disadvantage of being single.

A total of 2,628 surveys were completed with Canadian adults aged 40 to 60 between January 16th, 2008 and January 21st, 2008, using the Harris Decima online panel. A sample of 2,628 respondents provides estimated proportions that are accurate to within, at most, +/- 1.9% at the 95% confidence level.

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