When Vic Paganucci of Norwalk, Conn., was given a chance to take early retirement last spring, he jumped at it. He was weary of his two-hour commute to Wall Street and no longer enjoyed his job as an insurance broker.
Some Boomer Retirees have Second Thoughts
But now, at 58, he’s having second thoughts. In part, it’s because he misses the fulfillment a job provides. But increasingly, money is a concern, too.
“I have no problem paying the bills, but the market seems to go down endlessly,” he says. “Sometimes I wish I had looked for a job rather than just retiring.”
The oldest Baby Boomers are turning 62 this year, making them eligible for Social Security. About half of this year ‘s group — some 1.6 million — are expected to file for Social Security as soon as they qualify, even though that means receiving reduced benefits for the rest of their lives.