Working Late Into Life
By George Anderson
A new Census Bureau report says 13.2 percent of Americans 65 or older are currently working or looking for work.
An Associated Press report says many are working or looking to return to work because of concerns about stock market losses, Social Security and the high cost of medicine and medical care.
Edward Coyle, executive director of the Alliance for Retired Americans, said, “People are more nervous now than they were a year ago. You have lots of folks approaching retirement age, scratching their heads and wondering if they can do it.”
Moderator’s Comment: What affect is (will) the growing
number of senior citizens working or looking for work having on the employment
picture? How will retailers be impacted by the problems facing the Medicare
and Social programs?
Here are some scary thoughts for the day.
- One in ten seniors are currently living in poverty.
- Medicare is expected to be insolvent by 2026 based
on current estimates. - Social Security is projected to run out of money by
2042. [George
Anderson – Moderator]