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Recovering from the Great Recession: Long Struggle Ahead for Older Americans (AARP Public Policy Institute, May 2011)
In this article, Sara E. Rix discusses the findings from a survey of 5,027 Americans aged 50 and older about their experiences during the current recession. The results were disheartening:
- Nearly 30 percent either were unemployed and looking for work at the time of the survey or were employed but had been involuntarily unemployed in the previous three years
- Nearly one-third found that their homes had declined significantly in value
- A large number fell behind on or accumulated more debt on credit cards
- More than half worried about not having enough money for a comfortable life during retirement
- More than two out of five anticipate working part-time during retirement
- One-third expects to postpone retirement
