Job-Happy Boomers Nix Retirement
Professor David J. Demko, PhD
AgeVenture News Service
Retirement? "Hell no, we won't go", say some boomers. Others can't wait to say "Adios" to the workplace and enter retirement's proverbial "week full of Saturdays". So what's the tie breaker that separates a "retirement-wanna-be" from a worker who has NO PLANS to go anywhere anytime soon? Here's the latest research. Read it and reap.
What prevents some boomers from thinking about retiring from work? The answer. Work. That's right. Job-related gratifications might reduce retirement planning among baby boomers, say researchers based at three different universities.
The study found rewards obtained from work affect people differently, and, that in turn affects retirement planning. Satisfied workers are more likely to remain in their jobs and are less likely to plan for retirement.
Karl Kosloski of the University of Nebraska, David Ekerdt of the University of Kansas, and Stanley DeViney of the University of Maryland found that for many Americans the reward of work has great value, especially when the workers enjoy the work and the social relations involved.
Retirement planning, the researchers pointed out, is not a unitary notion, but rather a cluster of loosely related behaviors. At its simplest level, retirement planning can be the intention to be fully retired, partially retired, or to change careers by a certain age. It might also involve anticipatory rehearsal, thinking about it, or talking it over with friends
and co-workers. All of these definitions of planning were used in this study.
Those who had jobs high in opportunities for ascendance within the organization were more likely to have a plan for retirement and to think about it and discuss it with others. In contrast, those who had jobs high in intrinsic enjoyment or positive relations with co-workers were less likely to plan for retirement, regardless of how planning was defined.
The findings suggest that information about peoples' enjoyment of work can be used as an important tool in understanding the conditions under which they plan for retirement. Those insights might help retirement planning professionals to assist workers in realizing
more complex retirement plans.
Details of the study appear in the Journal of Gerontology, May 2001. The Journal is a refereed publication of The Gerontological Society of America, the national organization of
professionals in the field of aging.
See related articles in AgeVenture archives.
Breaking the Watch: Retirement in America
Pension Penchant Rallies Retiree Readiness
Retirement Continues to Re-invent Itself
Pre-retirees Say Not Working Isn't Working
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