Tag: unemployment

Over 50 and out of work logo.

The financial impact on older people who find themselves out of work goes far beyond the missed paychecks: it upsets well-laid plans for retirement. Stan Bednarczyk, an engineer who was laid off in 2009 by a Michigan automobile supplier, has numerous concerns.  He can no longer contribute to the retirement account sponsored by his former employer…

asian chinese senior male barista teaching his daughter making coffee at cafe bar counter

Introduction Today men on average retire at 63 and women at 62, and they can expect to spend 20 years in retirement. But if Americans continue to retire as early as they do today, many will not have adequate income once they stop working. Social Security will provide less relative to pre-retirement earnings as t…