Working longer in 'retirement'

January 22, 2009
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Before the most recent recession began in late 2007 and wiped out many a savings account, other factors already were forcing more Americans to delay their retirement dreams.

Mainly, weâ??re living longer, which means retiring at the traditional age of 65 demands living longer without a paycheck. The average life expectancy was 61 years at the advent of Social Security in 1935 and now itâ??s 78 years.

Working longer before retiring wonâ??t be such a terrible thing for many Americans who are able to sit behind a computer, but will be a strain for construction workers and others whose skills are in physical labor.

Have Americansâ?? perceptions of retirement been permanently altered by the recession? If youâ??re planning for the future, at what age do you anticipate retiring?

  • A few months ago, my father and I were talking about his potentional last years in work. Since he is getting close to retire early age, we have discussed this. Currently, it is not fiscially responsable for most people to retire, unless they have a grose amount of money at their disposal. Granted, he wasn't planning on retiring for atleast another 5 years anyway, the recession has just confirmed what we already are seeing.
  • Whoever conceived the 401k was an agent for business owners. They will gladly give up a 50-100% match because noone can afford a 2% contribution. Now with unemployment running at 8%, anyone with a job will sacrifice everything for just a minimum paycheck. What needs to happen right now, right here, is a national workers strike.

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