Fact Sheet How Is the Economic Turmoil Affecting Older Americans?
Richard W. Johnson, Mauricio Soto, Sheila R. Zedlewski
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The slumping stock market, falling housing prices, and weakening economy have serious repercussions for older Americans who are approaching retirement or already retired. Seniors have little time to recoup the values of their homes, 401(k) plans, and individual retirement accounts-all important parts of their retirement nest eggs. More and more older adults are working to bolster their retirement incomes, but the rising unemployment rate limits their prospects. This fact sheet examines the impact of the ongoing economic turmoil on retirement savings, home values, and retirement decisions.
Research Areas Economic mobility and inequality Wealth and financial well-being Aging and retirement
Tags Economic well-being Pensions Wages and nonwage compensation Income and wealth distribution Retirement policy Wages and economic mobility
Policy Centers Income and Benefits Policy Center