Economy Impacts GAWDA Members' Retirement
Economy Impacts GAWDA Members' Retirement
With the downturn in the economy of the last few years, many people have been forced to delay their retirement, and the gases and welding industry is no exception to this trend. In a recent survey of members of the gases and welding distributors association (GAWDA), more than three quarters report changing their retirement plans due to the economy. The poll was conducted by Welding & Gases Today, the leading magazine for the gases and welding equipment industry.
When asked about the impact of the economy on retirement, 76.9 percent of all survey respondents indicate that it has forced them to change their retirement plans. Respondents who are business owners came in slightly under the overall number, with 71.4 percent changing their retirement plans because of the economy. More than half of respondents identified themselves as business owners or executives.
According to the retirement survey by Welding & Gases Today, no GAWDA member says he or she realistically expects to retire before age 65. One third of respondents will retire between ages 70 and 75, while another 8.3 percent say they may never retire. Overall, respondents give an average retirement age of 67.9. The results mirror the findings of WGT's 2011 Business Forecast, with members indicating that the economy has forced them to adapt.
To view the full results of Welding & Gases Today's survey of GAWDA members, read "Retirement Survey: The Results Are In" (http://www.weldingandgasestoday.org/index.php/2011/03/retirement-survey-the-results-are-in/) at Welding & Gases Today online. For more information, contact Devin O'Toole, contributing editor at Welding & Gases Today at devin@weldingandgasestoday.org or 315-445-2347.
Founded in 1945, the Gases and Welding Distributors Association (GAWDA) is the premier source for manufacturing knowledge, education and networking. Through its member journals, e-magazines, newsletters and industry wiki, GAWDA connects suppliers of gases and manufacturers of related equipment as well as manufacturers of welding equipment and distribution leaders, for the purpose of safely delivering optimal solutions to the users of those products. GAWDA publications are the industry's voice for all matters related to the latest technology and the most up-to-date processes spanning welding equipment and products and services related to industrial, medical, specialty and cryogenic gases. A 501(c)3 organization, GAWDA members are located throughout North America.
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