Australian Baby Boomers Face Retirement During the Global Financial Crisis |
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| Authors: | Hal Kendig PhD Yvonne Wells PhD Kate O'Loughlin PhD Karla Heese MSc |
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| Affiliation: | 1. Centre for Research on Ageing, Health, and Wellbeing , Australian National University , Canberra , Australia hal.kendig@anu.edu.au;3. Lincoln Centre for Research on Ageing, Australian Institute for Primary Care and Ageing , La Trobe University , Victoria , Australia;4. Ageing, Work, and Health Research Unit, Faculty of Health Sciences , University of Sydney , Sydney , Australia |
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| Abstract: | This paper examines the impact in Australia of the global financial crisis on the baby boom cohort approaching later life. Data from national focus groups of people aged 50 to 64 years (N?=?73), conducted in late 2008, found widespread but variable concern and uncertainty concerning work and retirement plans and experiences. A national survey (N?=?1,009) of those aged 50 to 64 years in mid-2009 reported lower levels of financial satisfaction compared with other life domains; many planned to postpone retirement. Findings are interpreted in the context of policies and markets that differed significantly from those in the United States, notwithstanding the global nature of the financial crisis. |
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| Keywords: | baby boomers global financial crisis mixed-methods analysis retirement income satisfaction |
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