Seniors though don't have that kind of leeway, and are faced with a smaller set of options as to how they can recoup their losses..
The Employee Benefit Research Institute reported that 3.8 percent - 14.3 percent of households had a worsening of their retirement capability during the recession. This was linked with the age of the homeowner, as well as what types of investments the homeowner held.
According to a Feb. 7, 2011 article on USNews.com, Boomers who were born betweem 1948 and 1954 were found in 2010 to have a 47.2 percent risk of not having enough to retire on. Those Boomers who were born between 1955 and 1964 had a slightly lower risk of 43.7 percent.
Sources:
Elderly Poverty. Nursing-home-abuse.org. Retrieved April 22, 2012.
http://www.nursing-home-abuse.org/elderly-poverty.html
Seniors 'near poverty' are at risk in deficit cuts. MSN.com. Retrieved April 22, 2012.
http://money.msn.com/saving-money-tips/post.aspx?post=246dbaed-249c-4064...
How to Put Your Retirement Back on Track. USNews.com. Retrieved April 22, 2012.
http://money.usnews.com/money/blogs/the-best-life/2011/02/07/how-to-put-...
Visit Jody's website and blog at http://www.ncubator.ca and http://ncubator.ca/blogger
Reviewed on April 24, 2012
by Maryann Gromisch, RN
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