Most Americans felt investment pain in 2008 as the value of retirement accounts and other assets dropped along with the economy. But older Americans are feeling particularly hard-hit by the financial crisis and many now say they must now postpone their retirement, according to a survey by the AARP, which represents older Americans. The survey, released on Friday, showed 57 percent of those who were employed or looking for work and who lost money in their investments over the past year expected to delay retirement and work longer. It also found 36 percent of workers had stopped putting money into their retirement accounts in the past 12 months.Have you decided to postpone retirement because of investment losses? How much longer will you have to work to afford retirement? Is the concept of retirement a thing of the past?
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Of course I am postponing my retirement. In fact, I don’t know if and when I will be able to retire. I am not alone, not just as reported by AARP study, but in my entire circle of friends, none of us are retiring anytime soon. And, in the past, all of us could be defined as eligible for retirement. It is not only a financial thing; it is a life thing. Age should never be the determinent of retiring; there are too many other considerations and financial is just one of many considerations.
- Posted by NancyBNot at all! About 30 years ago My wife & I started investing in rental properties. During the last few years we have sold out one at a time. We never had many, nor any of considerable3 size, the largaest was a ten plex, but we are holding over a quarter of a million in mortgages which gives us a comfortable income on top of our social Security. Not rich, but we can have a worry free life! Income property has been good to me for over 64years.
- Posted by John H Lindop