Press Release
Baby Boomer Retirement – Not Another Y2K
Friday, August 15, 2008
I am concerned about the impending baby boomers retiring all at one time. Will this affect my business adversely?
A lot has been written about the impending doomsday of baby boomer retirement. Companies won’t have enough brainpower to back up the departure, the stock market will collapse and young professionals will not have the experience to guide their companies are just some of the dire predictions that so called “experts” have been telling us for the last five years. I think they are the same experts that said Y2K would destroy human civilization as we know it because all computers would reset to 1900 instead of 2000. Many of today’s baby boomers are not fully retiring and have no plans to. People are working for longer periods of time, immigration is up and the baby boomers’ kids generation (Gen Y) is about the same size. Along with the improvement of production efficiencies, the workforce will change but not face such extreme shortages that will business will be stifled.