Monday, December 14, 2009

Like it or not, you may be retired


Only 60% of people 55 to 64 are employed and it’s trending down.

Kelly Evans and Sarah E Needleman wrote about this in the WSJ Dec 8, 2009.

People get laid off, aren’t ready or thinking of retiring, can’t find another job, then get early Social Security and start the Big Struggle.

Just a year or two ago we were hearing that people were planning to continue working.

Now, not so much.

Getting early SS means you get less forevermore, unless you pay back what you got at 66 and start over, sort of. Who can do that—we need this money to live on.

But people retiring early means fewer dollars paid into SS, your classic vicious cycle.

Does age bias have a part in this? Naturally, don’t believe anyone who says differently.

One person quoted in this said the younger people at companies thought he could not even check email—when he was very computer savvy.

Plus—there is the factor of working hard all your life, learning, getting smarter and better, then being dropped as worth nothing.

That part really blows.

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