Baby Boomers Retiring On Time

April 4, 2012 ( – Fifty-nine percent of the first Baby Boomers to turn 65 are at least partially retired. 

According to “Transitioning into Retirement: The MetLife Study of Baby Boomers at 65,” 45% of Boomers are completely retired and 14% are retired, but working part-time. Of those still working, 37% say they will retire in the next year, and on average plan to do so by the time they are 68.

Half (51%) of those who are retired say they retired earlier than they had expected. Of those who retired early, four in 10 say they did so for health reasons. The majority (85%) of respondents consider themselves healthy, and almost all (96%) retirees say they like retirement at least somewhat. Seventy percent like retirement a lot.

Almost two-thirds, 63% of respondents, are already collecting Social Security benefits, and on average began doing so at the age of 63, defying the conventional wisdom that people would choose to wait to receive benefits until a later age in order to receive a higher payout. Among those in the survey, just over 60% are confident that the Social Security system will be able to provide adequate benefits for their lifetime.

Regarding the attitude of these respondents, the data shows that 43% of those polled are optimistic about the future. Of the 19% who are pessimistic about what is ahead, 49% fault the government and 21% blame the economy. The 65-year-old Boomers do not consider themselves old; on average they will not consider themselves to be old until they are age 79, a year older than reported in 2007. 

“Many of the Boomers weathered the recession well and have been able to stop working. Half of all Boomers feel confident that they are on track or have already hit their retirement goals,” said Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute. “We found that more are homeowners today than 2008, that the value of their homes decreased by only about 5.2% on average, that the majority feel they’re in good health and that 83% have grandchildren. Overall, it’s a pretty confident group of Americans.”

Additional survey findings include:

  • The average retirement age for the 1946 Boomers is 59.7 for men and 57.2 for women;
  • Twenty-four percent have a living parent;
  • Eight-four percent are parents; 83% are grandparents, up from 77% in 2008;
  • Of those not retired, 61% plan to retire at the same age as they planned one year ago;
  • Thirty-one percent of 65-year-old Boomers think they were at their sharpest mentally in their 40s; only 20% say they’re at their sharpest today;
  • Home ownership increased significantly among the studied cohort since 2008, from 85% to 93%; and
  • Seventy-one percent are married or in a domestic partnership; 12% are divorced or separated; 10% are widowed and 7% are single.


The “Transitioning into Retirement: The MetLife Study of Baby Boomers at 65” study was conducted by GfK Custom Research North America on behalf of the MetLife Mature Market Institute in November 2011. A total of 1,012 respondents born in 1946 were surveyed by random digit-dial telephone contact.