Released: July 27, 2008

Working forever might not work

Source: Gail MarksJarvis, Baltimore Sun (Free Registration)

Baby boomers who never got around to saving as much as they hoped promised to keep working past retirement age. The joke in the generation has been: “I’ll just work forever.” And the intent has shown up repeatedly in research.

But now along comes an economic downturn, and people are losing jobs. It looks as though Plan B, a lifetime of working, might not be an option to rescue undersavers after all.

“It’s a perfect storm,” said Jack VanDerhei, a Temple University professor and fellow at the Employee Benefit Research Institute. 

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