News To Know: Why Putting Off Retirement Could Be A Good Thing

According to a recent Time Magazine article, having to postpone retirement for a few years might not be such a bad thing. When millions of Americans have spent their careers preparing for the day they could retire, there are benefits to holding onto your job for a bit longer. The country could see a big boost in the size of the economy if boomers were to stay at their jobs for a few more years. Moreover, the extra years of work could lessen the impact of the looming labor shortage resulting from retiring boomers. On a more individual level, as many as two thirds of older boomers aren't fully prepared for retirement. Working longer could help these people properly prepare for an enjoyable and secure retirement.