Mind the Gap: McKinsey on Boomers Need to Work

28 November 2007 at 6:35AM Leave a comment

The McKinsey Global Institute site has an interesting article about “Serving Aging Baby Boomers”. MGI suggests that the upcoming boomer retirement binge may not be so huge:

While the conventional wisdom about boomers suggests they are widely affluent, only 25 percent are financially prepared for retirement and are aging with confidence. More than half of this generation, a massive cohort comprising 24 million people, envision a comfortable retirement, feel entitled to the good life, but lack the financial resources to pay for it. These boomers share the same aspirations as the affluent but won’t be able to maintain their current lifestyle without continuing to work or cutting spending by 25 percent or more.

This suggests that companies that find creative ways to lure boomers and accommodate their post-retirement working needs will do well in the upcoming labor shortage.

Boomers: “Born to be wild” or “Bored, tubby & mild”? (Amusing animation by Walt Handelsman)

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Entry filed under: Mind the Gap.

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