Photo: AP

Baby boomers could be in for a rude awakening when they retire—they’re planning on working once they hit retirement age, but they’re overestimating both potential pay and job flexibility.

That’s according to a new study from the Bankers Life Center for a Secure Retirement titled “New Expectations, New Rewards: Work in Retirement for Middle-Income Boomers,” which found that although 60 percent of boomers are planning on that after-retirement job, and more than half of nonretirees say they’re willing to take a pay cut to have it, their expectations are too high.

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