-- Just as single-income families began to vanish in the last century, many of America’s elderly are now forgoing retirement for the same reason: They don’t have enough money. Rickety social safety nets, inadequate retirement savings plans and sky high health-care costs are all conspiring to make the concept of leaving the workforce something to be more feared than desired.
This rise of college-educated older workers has pushed the demographic’s inflation-adjusted income up to an average of $78,000, 63 percent higher than the $48,000 older folks brought home in 1985. By comparison, American workers below the age of 65 saw their average income rise by only 38 percent over the same period, to an average of $55,000. United Income’s calculations draw on recently released data from the Census Bureau and the Bureau of Labor Statistics .
The BLS expects the big wave of aging baby boomers to represent the strongest growth in the labor force participation rate through at least 2024. “By 2024, baby boomers will have reached ages 60 to 78,” a BLS report noted. “And some of them are expected to continue working even after they qualify for Social Security benefits.”
Thanks to the lazy snowflake millennials