| The retirement of the estimated 76 million members of the baby boom generation, those born between 1946 and 1964, will add to the demands placed on society and on the federal government. This suggested the need to prepare for an aging population that will be unlike any preceding generational cohort. In this quantitative correlational study, retirement issues for members of the baby boom generation were examined, specifically in the area of the ability to retire before age 62, in relation to the independent variables of financial security, psychological readiness to retire, access to health care, and a changing workplace environment. The survey participants were persons in Buffalo, NY. The actual number of eligible participants ultimately determined the sample size of 102. The quantitative correlational methodology consisted of basic descriptive statistics for demographic information and inferential statistical analysis using the Spearman correlation coefficient test. The results of the statistical analysis demonstrated a moderately strong correlation between the financial security and ability to retire before age 62 variables, r(68)= 0.28, p < 0.02. The results were not statistically significant when the independent variables of psychological readiness to retire, health care, and job satisfaction were correlated with the dependent variable. In addition, psychological readiness and the ability to retire before age 62 was not strongly correlated, r(68) = 0.20, p > 0.11. Health care and the ability to retire before age 62 was also not strongly correlated, r(68) = 0.10, p > 0.42. Finally, job satisfaction and the ability to retire before age 62 was not strongly correlated, r(68) = 0.04, p > 0.75. Future research could compare the life styles of baby boomers who retired before age 62 to the quality of their lives 5 years later, exploring the same issues of financial security, psychological readiness to iv retire, access to health care, and job satisfaction. The geographical area for future research could also be expanded. Employers may use the data from this study to assess an aging workforce in their workplace and determine how to prepare for workers leaving the workplace. |
