The recession caused 40 percent of older Americans to postpone retirement.
The typical household lost about 5 percent of its total wealth between the summers of 2008 and 2009, according to Brooke Helppie McFall, an economist at the University of Michigan Institute for Social Research (ISR).
"The average person would need to work between 3.7 and 5 years longer than they planned in order to make up the money they lost," she said.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
