The Retirement Dilemma: Keep Working? - BusinessWeek »
Posted By y_soitenly 4 months, 3 weeks ago in Business & FinanceAmericans nearing retirement have too much debt and nowhere near the savings they need to live comfortably for 20-odd years.
As the first cohort of the baby boom generation this year hits 63—which is the average age of retirement in the U.S.—the big question is: Are they financially ready to retire?
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y_soitenly4 months, 3 weeks ago
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many Americans are not financially prepared to stop working because of a variety of issues. Many households have no real retirement plan, period. The average American family has not saved enough to retire and maintain the standard of living they've enjoyed in previous years. Moreover, at a time when they should be free of burdens such as mortgages, many pre-retirement households still have a high level of debt when they should be planning for reduced earnings. Watching their retirement savings dwindle or fretting about looming layoffs, workers now have far less confidence that they'll have sufficient funds for their golden years than they did in 2007,
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