LOS ANGELES: The overwhelming reason why baby boomers are not retiring at 65 is because they cannot afford to withdraw from the workforce.
Boomers came to pension/superannuation plans late in their careers, have cash thirsty children, were never great savers, and have kept re-borrowing against escalating house values.
They still want a million dollar lifestyle, enjoy ‘medicated’ good health, think they are still only 31, and actually enjoy working…