In recent years, many younger people have wondered why their older relatives or neighbours in North Carolina haven’t retired yet. Isn’t retirement the time to relax, travel, and enjoy life after decades of hard work? While that sounds ideal, the truth is more complicated. For many baby boomers (those born between 1946 and 1964), retirement is either delayed or not an option at all. Rising living costs, lost pensions, and unexpected life challenges have pushed many to keep working into their golden years.
Let’s take a closer look at some of the main reasons why boomers in North Carolina are still part of the workforce.
False Promises of Pension
Back in the day, many boomers were promised stable pensions by their employers. But over time, these dedicated pension plans started disappearing. Some companies even shut down, possibly to avoid paying pensions they had promised. As a result, many boomers don’t get the retirement income they once expected, leaving them with no choice but to keep working.
Retirement Isn’t Affordable
Just like younger generations, many boomers also struggle with high prices. It’s not that they don’t want to retire—they simply can’t afford to. In fact, homelessness among younger boomers is becoming a serious issue in some areas. They are facing the same economic stress as millennials and Gen Z.
More Seniors Are Working
Data shows that nearly twice as many people aged 65 and above were working in 2023 compared to 35 years ago. And not only that—they’re working about 15% more hours than they did in 1987. Clearly, more older adults are staying in their jobs much longer.
Living Costs Are High
Boomers are also expected to live longer than previous generations, but the cost of living has gone up sharply. Food, housing, medical care—all these things are more expensive now. To manage these expenses, many seniors are forced to keep earning.
Not Yet Time for Retirement
Some younger people may feel that boomers should step aside. But many boomers aren’t even at the official retirement age for full Social Security benefits, which will be reached in 2031. So, they’re technically not due to retire just yet.
Past Choices Matter
Many people don’t realise how their early career choices can affect their retirement. Some boomers may have small pensions, or none at all. And without enough savings, it’s difficult to stop working completely.
Paid for Others, Left With Less
Many boomers spent years contributing to pension systems for people older than them. But now, they are receiving little or nothing in return. This has left many feeling frustrated and financially stuck.
Some Mistakes Were Made
Of course, not everything was out of their control. Some boomers lived beyond their means—buying expensive homes, cars, or going on holidays to keep up with others. These financial choices have led to struggles in their older years.
Lack of Financial Planning Tools
Saving and investing were not as common or accessible in earlier decades. Online tools, retirement calculators, and personal finance apps weren’t available. So, many boomers didn’t plan well, simply because they didn’t know how.
Some Still Love Their Jobs
Not everyone who’s working at 65+ is doing it out of necessity. Some genuinely enjoy their work. Staying busy, connecting with coworkers, and having a daily routine gives them purpose and keeps them mentally active.
Staying Fit and Busy
Working also keeps older adults physically active. It might not be a gym workout, but even standing at a shop counter burns more calories than sitting on the couch watching TV all day.
Managing Life Alone
Losing a partner is never easy. But beyond the emotional toll, it often doubles the financial burden. Many boomers work extra years to cover daily costs after losing a spouse.
When Retirement Is Forced
Some people simply can’t continue working due to health issues or job loss. For boomers who never earned much or couldn’t save, being forced into retirement can be scary, especially if they weren’t prepared for it.
Inheritance Makes a Difference
In some cases, an inheritance is the only reason a baby boomer can retire. Without that extra money, many would be depending only on social security, which often isn’t enough to live on comfortably.
While retirement sounds like a dream, the reality is much harder for many baby boomers in North Carolina. High costs, disappearing pensions, lack of savings, and life’s unexpected turns have made it difficult for them to stop working. Some keep working because they want to, but many do it because they must. Understanding their situation helps bridge the gap between generations and builds more respect for the choices they’ve had to make.
