Bingo. Does anyone think most employers will keep older employees around when they can pay younger ones more cheaply and benefit costs also decreasing? Seriously, as much as the older work force is loyal, hardworking, and committed, when it comes to the bottom line, I’ve seen enough MBA’ers work the bottom line and the easiest way is to cut the older work force. Then what? If you’re in your mid-late 50’s you’re screwed, you’re not high on the list of desirables and waiting ten years to try and get the maximum on your SS so as to help round out your 401-k savings (pension? What pension?) Unless you’re union, most corporate pensions went out the window 25 years ago.) Yup, it’s going to be a bumpy ride, and no matter how much you may have saved, it may not have been enough depending on whether SS, Medicare, etc. are truly reformed or they go over the cliff. Interesting and scary times.
This may be true to a large extent, but a large percent of boomers leaving the job market will be hard to replace. I'm not sure there are enough youngins with the requisite skills and experience to replace all the talent going away with the boomers.