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The Ever Increasing Retirement Age
More and more Americans are finding themselves working well past full retirement age. Many working late in to their 70s when they physically can’t work any longer because they simply cannot afford to retire. Those nearing retirement are among the first generation to be retiring after pensions have stopped being the norm. Most workers are now responsible for their own savings apart from Social Security and as a result have not been putting money away for their retirement. In the past, company pensions have fulfilled this role as an almost automatic retirement account, but as they have phased out workers have failed to pick up the slack. This is leading to a higher rate of seniors living in poverty. For more information on this topic visit this article by Rodney Brooks with The Washington Post.