Tuesday, September 14, 2010

Survey: AARP Takes Closer Look at Impact of Recession on 45+ Lower Income Workers

AARP has published results of its investigation of the struggles lower-income older adults are facing during the recession. Among other things, the Closer Look June 2010 Survey found that nearly six in 10 Americans 45+ who make less than $25,000 a year say they are either "not at all" or "not too" confident they will have enough money to pay medical and living expenses in retirement, compared to 36 percent of higher income adults.

On work-related matters, 28% stopped contributing to retirement savings in the past six months, and 14% of adults 45 to 64 reported having to prematurely withdraw funds from retirement savings vehicles. In addition, with many older workers currently facing extended unemployment, 63% said that, based on what they have experienced or observed, older workers face age discrimination in the workplace.

Source: AARP News Release (September 13, 2010)

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