The Great Recession at 30 Months
More than half (55%) of adults in the labor force say that since the economic slump began 30 months ago, they have suffered a spell of unemployment, a cut in pay, a reduction in hours or have become involuntary part-time workers; the recession has also led to a new frugality and diminished expectations about retirement and their children’s future.
Most Middle-Aged Adults Are Rethinking Retirement Plans
In the midst of a recession that has taken a heavy toll on many nest eggs, just over half of all working adults ages 50 to 64 say they may delay their retirement — and another 16% say they never expect to stop working.
Not Your Grandfather’s Recession — Literally
Relatively speaking, older Americans’ attitudes and lifestyles have been less affected by the economic slump than have those of younger Americans. Meantime, the “Threshold Generation,” people nearing retirement, have been hardest hit, as they’ve seen their nest eggs shrink the most.
Baby Boomers: From the Age of Aquarius to the Age of Responsibility
As the oldest of the nation’s 75 million baby boomers approach the age of 60, a Pew Research Center survey finds many are looking ahead to their own retirement while balancing a full plate of family responsibilities – either raising minor children or providing financial and other forms of support to adult children or to aging parents.