“Working” Towards Retirement
Posted October 11, 2007
| With more of the nation’s 76 million baby boomers heading into their retirement years, experts note there will be an increasing need for people to keep working well past 60. That’s in part because they’re healthier and living longer, but also because they haven’t been saving sufficiently for a traditional retirement and face the prospect of future cuts in Social Security benefits. According to data from The Employee Benefit Research Institute and research firm Mathew Greenwald and Associates, 43 percent of people age 55 and older — the largest contingent in that group — have saved less than $25,000 for retirement. |  |
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