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Photo courtesy of Darren Calabrese, The Globe and Mail

Active baby boomers rewrite the retirement myth

Economics Professor, Michael Veall, was recently interviewed for a piece on how retired baby boomers are changing the job market and economy.

Jan 22, 2019

Excerpt from article:

Financial considerations are not always the prime motive for so-called “unretirees” to work.

With 2010-15 data from the Canadian Longitudinal Study on Aging, researchers found “only 37 per cent of women and 41 per cent of men said that financial considerations were a factor in their decision.”

McMaster University economics professor Michael Veall, a study contributor, says “what appears to be more important is broadly social reasons,” notably a person’s state of health and a desire to feel useful and connected to others.

“There is not a one-size-fits-all explanation here,” he notes. Moreover, he says that “with more women in the labour market than before, retirement is more of a joint decision [by spouses].”

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