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A
recent AARP survey showed that 20% of those aged 55-64 are being forced to
delay retirement because of the slowing economy. Of those, one-third said it
was because of falling portfolio value, and 18% blamed falling home values.
Among younger workers (45-54), 25% will delay retirement, with 20% citing
lower retirement funds, and one-third falling home values.
Unfortunately, many of those who plan to keep working will be forced to stop
due to health problems or other issues over which they have no control.
According to an Employee Benefit Research Institute (EBRI) survey of current
retirees, only 28% had been able to continue working until age 65. Nearly
40% had been forced into an unplanned, early "retirement" due to health
problems (28%), downsizing (28%), caring for family member (25%) or were
told they had obsolete skills.
What It Means to You
If
you are among those who are forced to keep working, make sure you can!
Safeguard your ability to work by checking out the following articles from
other About.com Guides:
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Health - Safeguard your health.
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aring for others - Look into long-term care
insurance for them.
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Downsizing - Look into your own career
planning.
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Obsolete skills - Make
sure your skills are up-to-date.
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