Last night I was surfing the Internet to find information about retirement plans. My father is going to retire in a couple of months, so I was helping to find a good plan. I got up in something that was hard to believe. There could be no thought in my wildest dreams that anyone can postpone your retirement plan. At least I do not! However, many people across the United States is doing, and the reason (yes, you’re right!) Recession.
A recent survey by Golden Gateway Financial has shown that more and more seniors in the U.S. are delaying their retirement to make ends meet. At the time of economic crisis, when everyone is busy arranging finance, older Americans are seeking new employment opportunities.
The elderly in the U.S. are seeking new jobs (at an age that should have otherwise retired), so that they can recover from losses in financial markets and housing sectors. The recession has affected everyone, and the elderly are its best to cope with the situation by holding their retirement plans.
Before the recession of nearly 67% of the elderly in the U.S. wanted to withdraw before age 70. But the scenario has changed radically since the recession. You’d be surprised to know that currently about 40% of older adults in the United States plan to work after 70, so they can support their living costs. They say they have matched their monthly payments, food bills, electricity bills and the like to pay and can not find a better way to keep your finances.
I was horrified to see people on the verge of retirement slogging to make a living. What do you feel about it?