49% of middle-class workers will be poor in retirement

retirement

To maintain living standards into old age we need roughly 20 times our annual income in financial wealth.

In 2010, 75 percent of Americans nearing retirement age had less than $30,000 in their retirement accounts. Downward mobility in retirement is a looming reality for both middle and higher-income workers. Forty-nine percent of middle-class workers will be poor or near poor in retirement, living on a food budget of about $5 a day.

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America’s fastest growing group in the workforce is changing what it means to be ‘retired’

Senior Worker in Supermarket

According to government estimates, the over-65 set is the fastest growing segment of the working population: More than 7 million are punching the clock.

Ailika Thomas’ husband brought her coffee in bed after she woke. It was 7 p.m., and the 73-year-old was facing a long, moonlit drive from her rural Indiana home to Chicago; Dean wanted to make the journey as easy as possible for his wife. He warmed the car and stocked it with snacks while she got dressed. When Ailika emerged from the back door in a pink-and-white pants combo accompanied by her two Yorkshire terriers, Dean gave her a warm goodbye kiss and made her promise to call at journey’s end.

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More baby boomers working past retirement

boomers working past retirement

LifeGoesStrong.com poll found a baby boom generation planning to work into retirement years.

So much for baby boomers and their dreams of retirement from kicking back at the lake house ot long afternoons of golf.  For many boomers, the plan now calls for logging more hours at the office and renewed worries about money, according to a new poll.

 

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Debt problems plague older Americans

postponing retirement

Many Americans have to postpone retirement.

Many Americans are reaching their 60s with so much debt they can’t afford to retire.  Before retiring most people would pay off their debts. But as wages have barely kept up with rising prices over the past 35 years Americans have pushed debt higher, living beyond their means. Now, people are postponing retirement, cutting living standards or both.

 

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Baby Boomers Face Uncertainty, Fear Outliving Their Retirement Savings

baby boomers

Many baby boomers fear they have not saved enough and will run out of money during their retirement.

Nearly half of baby boomers face so much uncertainty that they fear that their retirement will result in poverty, according to a new study by California-based investment advisers Financial Engines.

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Serious People Live Longer Than Happy People: Study

 serious people

Serious people live longer.

We’ve been told for years that stress can kill you.  We’ve been told that happy people live longer and that hours in the gym will keep you healthy. Now an eight decade long study has turned this kind of long-cherished conventional wisdom on its head. Now it seems stress can be good for you and serious people may live longer than those with sunny dispositions. Exercise may not hold the key to longevity.

 

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Jobs Are Back Just Not For the Middle-Aged Worker

why-the-middle-aged-are-missing-out-on-new-jobs

Jobs are back. Just not for everybody.

Like many other things in the stutter-step economic recovery, the job market is finally recovering, but progress is uneven and some people are being left out. The latest jobs report, for example, shows that the economy created 216,000 jobs in March, for a total of about 1.9 million new jobs since employment levels bottomed out at the end of 2009. That’s a healthy pace of job growth that will help bring down the uncomfortably high unemployment rate, and, with luck, cement the recovery.

 

 

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More Middle Aged Men Opting for Cosmetic Surgery to Look Good

cosmetic surgery

Doctor pulling back the brows of a middle-aged man contemplating cosmetic surgery.

More men are going under the knife, opting for procedures like facelifts, botox and liposuction, according to a new report that said cosmetic surgery is fast becoming a preferred option for middle aged males who want to “look good”.

 

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