Monday, March 30, 2009

Recession Has Altered Retirement Plans of Americans

No doubt the recession has altered the retirment plans of many Americans

Some Not-So-Good News for Retirees

    AT&T Retirees Rally In North Haven
    WFSB - Hartford,CT,USA
    Retirees from AT&T rallied in North Haven Monday amid concerns about
    their benefits. The company is currently negotiating contracts with
    current employees

    Some retirees returning to work
    KSWO - Lawton,OK,USA
    Lawton_A lot of folks who had retired are back on the job, and many
    working far longer than they had anticipated. It isn't because they
    didn't plan for

Here is some more news relating retirement plans to the recession:

In a recent poll Americans estimated that their retirement savings have dropped an average of 25 percent and almost a quarter of those polled (22%) said they now plan to retire later than previously expected.

The expected retirement age jumped 3.6 years to older than age 65 mainly due to the loss of retirement savings.

The Baby Boomer generation—once thought to be moving into the years in which they would be spending their retirement savings—might instead be accounting for more than a third (35%) of total dollars saved by Americans post-recession.
Important Note: An economics professor advices people how to solve the problems of the economy and the recession which the economics professor has avoided by becoming an economics professor.

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