Retirement in America increasingly means working into old age, with most seniors unable to support themselves on Social Security and savings alone, according to noted retirement expert Teresa Ghilarducci. Ghilarducci's research shows that only 10% of Americans between the ages of 62 and 70 are both retired and financially stable.
Retirement in America increasingly means working into old age, with most seniors unable to support themselves on Social Security and savings alone, according to noted retirement expert Teresa Ghilarducci. The reason: The nation's retirement system has left behind the bottom 90% of workers, Ghilarducci told CBS MoneyWatch in discussing her new book, 'Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy.
' Ghilarducci, a labor economist and a professor at The New School for Social Research in New York, also said the nation needs a 'bold plan,' which she calls the 'Gray New Deal' after the Depression-era New Deal, to shore up retirement for millions of Americans. Ghilarducci's research shows that only 10% of Americans between the ages of 62 and 70 are both retired and financially stable. The majority of older Americans are either retired, but living below the standard of living they enjoyed while working, or still working because they can't afford to stop, she found in analyzing data from the University of Michigan's Health and Retirement Survey
Retirement America Seniors Social Security Savings Working Financial Stability
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What to expect as the Munich Security Conference kicks off with beefed up securitySecurity forces descended on Munich for the conference which will see an estimated 60 heads of state and over 85 government officials meet.
Read more »
Fact Check: Joe Biden Falsely Claims ‘Republicans Will Cut Social Security’Source of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Sanders-Warren Plan Would Tax the Rich to Increase Social Security by $2,400 a YearKenny Stancil is senior researcher at the Revolving Door Project and a former staff writer for Common Dreams.
Read more »
Republicans Vote to Advance Budget With Trump-Arrington Death Panel for Social SecurityNewswire Editor is a Common Dreams staff position.
Read more »
60 Days Into 2024 and Millionaires Are Already Done Paying Into Social SecurityJake Johnson is a senior editor and staff writer for Common Dreams.
Read more »
Some Americans will receive a second Social Security check this weekSocial Security recipients will receive two checks this week, but it doesn't mean retirees are receiving extra money — it's due to a quirk in the system.
Read more »