Retirement & your career: Baby Boomers head to Early Bird Specials

Hello readers of the blog.

Here is a quick survey I’ve decided to conduct.

I read this morning on the front page of the AI CPCU (American Institute of Chartered Property Casualty Underwriters) about the increasing job opportunities and the vast opportunities that will exists in the next ten years or so, based on the fact that the Baby Boomer generation is ready or getting ready to retire (if they haven’t lost their entire retirement fund in the market, forcing them to work until approximately age 90.) This made me ponder the many points of my career thus far, which although I don’t pretend that I’ve been around for all together that long, I have met my fair share of people considering.

We work in financial services, an industry that is so incredibly welcoming to young talent willing to bust their chops to climb up the corporate ladder. Think of our friends for a minute who work in other industries, who had to start out as someone’s assistant to eventually work their way up to a decent salary and a position where they hold some responsibility for the results they are supposed to produce. Finance generally speaking offers enormous opportunity right from the get-go where young graduates can actually get their hands wet with clients instead of just fetching coffee.

This brings me (finally) to my point, using the age of 55 as a threshold, I really don’t find that there are THAT many baby boomers that will be leaving open positions. I’d say that 85% of the brokers I’ve collaborated with or other underwriters I’ve worked with are actually under 45, meaning that they have another 20 years MINIMUM to work before I can even begin to think about usurping their position!

So my question to you- demographically around your office- do you see that there will be lots of new opportunities popping up in the next 5-10 years- or is the Media just toying with our emotions?