title: Australian baby boomers face retirement during the global financial crisis.
abstract: This paper examines the impact in Australia of the global financial crisis on the baby boom cohort approaching later life. Data from national focus groups of people aged 50 to 64 years (N = 73), conducted in late 2008, found widespread but variable concern and uncertainty concerning work and retirement plans and experiences. A national survey (N = 1,009) of those aged 50 to 64 years in mid-2009 reported lower levels of financial satisfaction compared with other life domains; many planned to postpone retirement. Findings are interpreted in the context of policies and markets that differed significantly from those in the United States, notwithstanding the global nature of the financial crisis.
authors.affiliation: Centre for Research on Ageing, Health, and Wellbeing, Australian National University, Canberra, ACT, Australia. hal.kendig@anu.edu.au
authors.forename: Hal
authors.initials: H
authors.lastname: Kendig
authors.forename: Yvonne
authors.initials: Y
authors.lastname: Wells
authors.forename: Kate
authors.initials: K
authors.lastname: O'Loughlin
authors.forename: Karla
authors.initials: K
authors.lastname: Heese
mesh_terms: D000368:Aged; D001315:Australia; D015331:Cohort Studies; D003625:Data Collection; D057172:Economic Recession; D005260:Female; D006801:Humans; D008297:Male; D008875:Middle Aged; D010415:Pensions; D010549:Personal Satisfaction; D011157:Population Dynamics; D011158:Population Growth; D011640:Public Policy; D011788:Quality of Life; D012179:Retirement