Baby Boomers are commonly described as those of you born in the years spanning the mid 1940s to mid 1960s, or the first generation born after World War Two. You grew up in a time of great change, and are held widely responsible for much of the social and cultural development in the decades following the war. 

If you are a Baby Boomer, you are likely to have been known for your productivity, tenacity, teamwork and mentoring skills throughout your working lives. In fact, your generation is thought to be extremely work focused, often defining yourselves by professional achievements. As a Boomer, you are likely to have carved out a long lasting, prestigious career, allowing you to reap the benefits of high income such as buying your own home or living comfortably.

Only 24% of Boomers are confident that they have enough money saved up to last them through retirement, and of this group 68% said they should have saved more. When you think about the circumstances, these stats are unsurprising. Your generation started working when life expectancy was much lower than it is now. People are living longer, which is great, but the flipside is that many of you may not have planned enough savings to see yourselves through the later years of your lives. 

On top of this are challenges posed by inflation rates. The cost of living is increasing and, for those of you on a fixed income, it can be difficult to keep up with these rising costs. Many of you are delaying retirement, or even taking up two or three jobs alongside your pension, just to make ends meet. You’re known for being fiercely independent, so it’s not a surprise that you don’t want to be a burden, choosing instead to continue working into your later years to bring some financial stability back into your life.