Boomers turn 51- 67 this year. Boomers are the kind of people who worry about their retirements and most of them wish to continue to work part-time during their retirement period because they like working and they want to augment their retirement savings. Baby Boomers like to think openly and do what needs to be done, and they do it at any cost, that’s why they are different from the previous and subsequent generations. But the problem with Boomers is that they love what they are doing.
The first wave of baby boomers that retired seven years ago, made quite an impact on the U.S. economy. There are 77 million baby boomers or nearly one-quarter of the total population that are near retirement. Over the coming decade, the eventual retirement of this demographic group will slow labor force growth significantly.
There seems to be no general consensus about when old age actually begins. The United Nations has generally denoted old age as beginning at sixty-five, in agreement with most countries in the developed world. But the World Health Organization has established age 55 as the beginning of old age in Africa. So, as you can see, it all depends on the culture in which you exist. Old age is relative. But science has identified many factors which may define our old age, and none of these are calendar related.