More challenging news for seniors. The Wall Street Journal has this story:
But here's some discouraging news from the Employee Benefit Research Institute: For about one-third of working-age households (those between ages 30 and 59 in 2007), working until age 70 won't enough to provide adequate income in retirement.
"It would be comforting from a public policy standpoint to assume that merely working to age 70 would be a panacea to the significant challenges of assuring retirement income adequacy, but this may be a particularly risky strategy, especially for the vulnerable group of low-income workers," said Jack VanDerhei, research director of EBRI, a nonprofit, nonpartisan research outfit.
Explore this NCR special report with recent articles on the topic of immigration and family separation.
Working longer can help, for sure. EBRI's Retirement Security Projection Model indicates that nearly 64% households aged 50?59 in 2007 would be "ready" for retirement at age 70, compared with 52% those households if they were to retire at age 65.
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