- Oct 25, 2005
- 1,210
- 23
Retirement will be gradual for many, study finds
With EMPLOYERS switching to CASH BALANCE PENSIONS (I will come back to THIS) and the NATION saddled with LOW SAVINGS...it looks to be a BITTER END for a GREAT MANY in the NATION.
The KEY here is PENSION and HIGH SAVINGS. Not ONE or the OTHER.
But in the NATION that is ALREADY DEFEATED.
Seems like RUTHLESS WHITE has EVERYTHING UNDER CONTROL...
Oh well.
The key determinant to whether someone works in retirement - and how much - is tied to how much pension the workers have accumulated and how much they've saved.
The study found that there were basically six paths to retirement among Americans 55 and older:
Early retirees: 29 percent retired early. In most cases, this group had pensions and high savings balances.
Work and play: 12 percent left full-time work in their 50s, but immediately set up their own companies or took on high-level, part-time jobs. They largely enjoy their work and want to stay active.
Still working: 35 percent of workers moved to part-time or self-employment in their 60s. They tend to have lower financial resources, and often lack a pension.
Returnees: 5 percent stop working, typically in their 50s, and then are forced to return to the work force, sometimes because of a financial shock like the death of a spouse.
Spouse's retirement: 9 percent. Often married women in excellent health, they follow their husband into retirement in their 40s and 50s.
With EMPLOYERS switching to CASH BALANCE PENSIONS (I will come back to THIS) and the NATION saddled with LOW SAVINGS...it looks to be a BITTER END for a GREAT MANY in the NATION.
The KEY here is PENSION and HIGH SAVINGS. Not ONE or the OTHER.
But in the NATION that is ALREADY DEFEATED.
Seems like RUTHLESS WHITE has EVERYTHING UNDER CONTROL...
Oh well.