USA Today: Boomers expect to work longer, can't afford to quit
WASHINGTON — As baby boomers begin to ease into their 60s, most expect to delay retirement longer than their parents or grandparents.
That's good, because many can't afford to stop working.
Two new reports portray aging boomers as better educated, with higher incomes and longer life expectancies than the generations that preceded them. They also have fewer children and are less likely to be married, leaving them fewer options if they need help in their old age.
"That one child they had will be very valuable," says William Frey, a demographer at the Brookings Institution, a Washington think tank.
Frey's report Tuesday says higher rates of divorce and separation could result in greater financial hardship for aging baby boomers. In 1980, about two-thirds of Americans age 55 to 64 lived in married-couple households. That percentage fell to less than 58% in 2005. …
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