What do you fear about retirement?

Oct 21, 2008

Americans Changing Their Retirement Plans

A severe economic downturn will make you realize that Oscar Wilde wasn't kidding when he said: "It is better to have a permanent income than to be fascinating." Indeed it is time to change your retirement plan.

A new AARP survey confirms that a lot of older Americans have changed their retirement plans and now have no intention to drop out of the workforce.

Apparently baby boomers are delaying retirement plans indefinitely. Indeed, a whopping 70 percent of workers plan to work during their retirement years.

Part-time retirement jobs are the top choice in the survey of 1,500 Americans ages 45to 74 who are working or looking for work.

Of course, as I have indicated in
How to Retire Happy, Wild, and Free when you retire isn't always completely in your control. A large number of workers retire because of layoffs, buyouts, health problems, or to care for relatives.

What's more, recent research from the Urban Institute suggests that part-time and flexible work arrangements for retirees may be drying up for all but highly educated workers because of the credit crunch and more people needing to work full time for financial reasons.

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