Work/Life balance Boomers once thrived on 60-hour workweeks, getting their social life in at the water cooler, and logging the face time needed to get a promotion or more pay. Now that retirement years loom, they have embraced flexible schedules even if it means no promotion. Many boomers must keep working but they want to live a little too. Millennials have felt that way from the start, in part because they’ve had fewer career opportunities but also because many have seen parents toil away for 40 years and never get ahead. Meaning Boomers have long sought a higher purpose, be it ending a war or fighting for civil rights. But their job was about getting ahead, not changing the world. Millennials link work with doing good and having a rewarding experience. That is partly how they expect to be paid—through job satisfaction. Saving Now past 50, many boomers have begun to ramp up saving in a last-minute blitz to reach retirement security. Many won’t make it, which is the main reason that 28% in the Merrill Lynch survey work in retirement. But others are taking advantage of catch-up savings plans and setting aside more pay. The Insured Retirement Institute estimates that 80% of boomers have retirement savings; about half of them have at least $250,000. Perhaps they have taken a cue from Millennials. Eight in 10 in the younger generation say the recession convinced them they must save more now.

http://time.com/2854034/millennials-retirement/