Brief Health Problems and Job Layoffs Crack Retirement Nest Eggs
Richard W. Johnson, Gordon B. Mermin, Cori E. Uccello
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Health problems and job layoffs are common as people approach retirement, though most Americans lack adequate protection when such disaster strikes. This brief shows that the onset of work disabilities reduces household wealth by 30 percent for older single people, and job layoffs reduce wealth by 23 percent. Repercussions are smaller but still serious for married people. Workers need to consider these risks as they develop their retirement plans.
Research Areas Aging and retirement
Tags Economic well-being Pensions Disabilities and employment Retirement policy
Policy Centers Income and Benefits Policy Center