Baby boomers doubtful they will ever be able to retire

Seniors enjoy retirement, something boomers don't they will be able to do

Carol Forsloff - Will the average baby boomer be able to retire?  Many don't think so, and here's why.

Many Americans express dissatisfaction with their jobs while at the same time many baby boomers do not think they will ever retire.  That appears to mean they keep jobs they do not like because they fear losing income and their future possibilities of retirement.

Yet the financial picture itself is part of the issue.  Many workers describe themselves as underemployed.  Others are concerned about the long hours they have to work, the limited, if any, vacation time and the possibility they may have to work long past the once-considered optimum age to retire at age 65.

News reports regularly attest to the fact that Americans work longer hours than any other population group in the industrialized world.  Americans also work longer in life, past the age at which the Germans, French and others retire.

The United States has no mandated annual leave time.  Americans, however, average about 13 days off every year, even though there is no legal requirement that companies grant any days at all.  And this contrasts with 30 annual days for the French.  The US is also the world leader in productivity per person.

On average Americans work a longer work week, with approximately 40% working more than 40 hours per week and many working up to 50.

The result of all this?  The likelihood of a heart attack is increased with the number of hours worked.  In other words you increase your chances of dying of a heart attack the longer you work every week.

And that is further increased if you have little or no time off.

This all comes at a time when unions have lost their clout, with fewer and fewer companies having unions to negotiate contracts to offer benefits.

As for retirement, what do baby boomers think?  According to surveys in 2012 most believe they will have to work the rest of their lives.

And if they work longer hours as well, it is possible those lives will be shorter than they would be if they worked the traditional 40-hour week that their fathers used to work.