The retirement crisis playing out right before our eyes - Forbes
Unlike prior recessions, the unemployment rate is higher among older workers than among younger ones. In the past, many older workers would have retired but since many have little or no savings; they continue to look for work. Furthermore, over the past forty years, the number of people age 65 or older who worked almost doubled. The lack of savings plays a large role in older workers working longer with almost one-in-five were working part-time in order to supplement their retirement income. For many older workers, working longer offered a solution to their retirement savings crisis. In Christian Weller’s article appearing on www.forbes.com website, he writes working longer was a retirement plan until it wasn’t. Read Mr. Weller’s article here…
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