Posts: 446Joined: November 28, 2007Last Post: August 11, 2010
Not Ready to Retire
Many older workers are retiring earlier than they expected, and in many cases it’s not by choice. A recent article in the AARP Bulletin finds that there is a rising tide of people who blame the recession for pushing them toward an early and unwelcome retirement.
And it’s no wonder. A story in today’s Boston Herald finds that even though the economy is strengthening, many jobs lost in the recession could be gone forever. Since 2007, the US has lost more than 8 million jobs. Among workers 55 and up, the unemployment rate has more than doubled – translating to almost 2.1 million older people without jobs. Many of these out-of-work boomers are being forced to make financial decisions usually reserved for later in life.