In an article about present unemployment in the US, Emily Glazer published an article in the Wall Street Journal saying that more than 2.2 millions of the 14.9 of unemployed Americans are 55 and older!
That is a scary thought! These people are struggling to meet their family needs and competing with much younger generations and at a global level! The article tries to present some alternatives for those in crisis but the remedy some times sound worst than the reality because they propose to use any resources for retirement and even pay taxes and penalties in the hope that the future will turn around.
Amazing grace!http://online.wsj.com/article/SB10001424052702303436904575570663472679240.html?mod=WSJ_Careers_CareerJournal_4
All that I can say about that article is that I hope it never happens to me. It's scary enough to not know what you're going to do about a job at my age, let alone when I'm 55 or 60 with a few years left to work before retirement.
ReplyDeleteI've often thought that it's been tough on my generation being in this recession because of the hit that a lot of us took by buying at the peak of the real estate market. I can't imagine, though, not having a job at age 55 and having an article like this one advising me on how to raise more money by renting out a room to college kids, or taking money out of my retirement account ten years before I thought I would be to pay my bills.