Tough times for older workers. Many can’t retire or find a job. We’ll look at boomers and more in the bust.
Our economic bad times have been bad for lots of people. For the young, trying to get started. For families, trying to pay the rent. And for older Americans.
For boomers and above there have been some particularly trying dynamics here. Just when they’re trying to batten down their finances for old age, their finances have widely been blown up.
Jobs lost. Homes lost. Savings ransacked. Retirement dreams made laughable. And when it comes time to find a job instead of goin’ fishin’, they may be bagging groceries.
This hour, On Point: tough times for older workers.
Carl Van Horn, professor of public policy and director of the Center for Workforce Development at Rutgers University. Author of “Working Scared (Or Not At All): The Lost Decade, Great Recession, and Restoring the Shattered American Dream.”
Marci Alboher, vice president of Encore.org, a non-profit group that promotes finding new careers after middle age. Author of “The Encore Career Handbook: How to Make a Living and a Difference in the Second Half of Life.” (@heymarci)
From Tom’s Reading List
Florida Today “Steven Smith started searching for a job as soon as he lost his administrative role with a Space Coast nonprofit agency in June 2012. He keeps track of the numbers. Applications: 270. Interviews: 10. Job offers: zero, though two prospects look promising. And like many older job-seekers, sometimes, Smith worries about his age: 58. Yet, eight months into his quest for work, the Indian Harbour Beach resident plugs away.”
The Wall Street Journal “Whether it’s for personal satisfaction or financial need, many retirees and future retirees want to work in retirement. In a poll of over 3,000 business professionals conducted by RetiredBrains.com in 2010, more than 86% said they plan to continue working once they are retired.”
USA Today “There are a number of reasons why Americans workers may decide to put off retirement. Some may just love their jobs; others may need more money. But even those who have socked away plenty of cash are often terrified about rising medical bills and want to keep earning, Hannon says.”