Female, Single Baby Boomers Eye Options

Some single baby boomer women are in no hurry to retire, according to a survey released in June.

More than half of respondents said they would stay at work well after their expected retirement, A vast majority of them (79%) added that they were satisfied with their current job.

This is encouraging news. Single female pre-retirees are more happy, healthy, and confident than ever in history; the survey reveals that those who are still working aim to carve their own personal and professional paths.

Saving and smart financial planning should help them hit their targets for retirement, and it appears they are finding satisfaction and meaning in their work as they do that.

Even though only a minority (12%) of them felt they were prepared for retirement, many said that they were now pursuing their career passions. Among those who worked full-time, 20% of them planned to start an “encore career” in their retirement years, in a job that could provide both greater meaning and continued income.

maura griffin

Female, single Baby Boomers are happier and healthier than ever before. (photo: Getty Images)

According to the study, 73% working full time with intentions to retire were looking forward to more time for themselves, 46% wanted more time for social activities and 47% planned to spend more time with their family. Smart savings habits likely allowed the 40% of those surveyed to retire already; of those who planned to keep working, 59% said they are doing so to be fully financially prepared for retirement.

The survey was conducted by Del Webb, which reported that roughly 28 million of the country’s 76 million baby boomers (37%) were single women. Harris Poll conducted the survey online last year among 1,020 single US women between the ages of 50 and 68.

Written by

Maura Griffin, MBA, CFP®, is the founder of Blue Spark Capital Advisors.