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Post Info TOPIC: Why many Americans will never retire


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Why many Americans will never retire
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Why many Americans will never retire
Economists have expected for some time that a significant number of Americans will need to delay their retirements and work well into their 70s, the website Wall Street 24/7 reports.

The value of homes has dropped enough that they are no longer sure and certain sources of investment retirement funds. The market collapse that followed the credit crisis took a tremendous toll on some peoples retirement accounts. Those who were frightened out of the market in most cases sold too soon and did not get the advantage of the run-up in the market over the last year.

American small business owners who rely on the value of their companies and the cash flow from the operations of these companies have begun to defer retirement, and a growing number say they will not retire at all. They will either be forced out of work by ill-health or will simply die with their boots on.

According to a new Wells Fargo/Gallup Small Business Index poll, Nearly half, 47 percent, of small-business owners now plan to never retire until forced to do so for health reasons up from about 4 in 10 in 2005 and 2007. Another 41 percent plan to cut back on work but will not retire.

The survey also shows that business owners will retire later than planned. When asked about a target retirement age, 69 percent intend to retire at age 65 or older up significantly from 41 percent in 2005 and 52 percent in 2007.

The trends will have a profound effects on several sectors of the economy. People who once might have moved south to Florida and the Carolinas are less likely to do so as they continue to work. This could further undermine the real estate values in the region and kill a number of resort communities built for people over 60.

On the other hand, homes that might have gone on the market across the country as people retired may stay in the hands of their current owners for a decade longer than they might have in 2005. This could keep inventory off the market which would, in theory, help home prices recover.

People who retire at 60 often open up jobs for people two decades younger. Business owners who do not leave keep their younger employees from promotions that might increase their disposable income.

Finally, the deferred retirement of many American who have substantial earning power may increase the nations tax base as people who once planned to leave work and live on less money stay in their jobs because they do not have sufficient savings. And, some of these people will be a solid base of unexpected ongoing tax receipts.

Results for the total data set are based on telephone interviews conducted July 6-12, 2010, with a random sample of 604 small-business owners.

(This item was posted on the Wall Street 24/7 website Oct. 4, 2010.)

October 4, 2010


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Uke


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If I last another 15 months, I ain't gonna give 'em another day! I figure I've worked long enough, and done enough... And I've earned the retirement and paid in for guys already retired!

Our younger guys are gonna help us as we retire tu!

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Us guy's thank you uke...

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Uke wrote:

If I last another 15 months...

And I've earned the retirement and paid in for guys already retired!

Our younger guys are gonna help us as we retire tu!



Going to have to stop that mush leak on the side of your bonnet.



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Those who can make you believe absurdities can make you commit atrocities. - Voltaire

Uke


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Hmmm... Well that leak has abated...somewhat. But... Many, many, many youngsters will soon join the ranks.

This warms Uke's hart!

(Sorry, this hart is actually Snippy's hart, which Uke borrowed!)

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Force Majeure

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Now that Brother *cy* is vested, he's got another 10 or 12 years of fashionable purty running ahead of him.

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Snippy wrote:

Now that Brother *cy* is vested, he's got another 10 or 12 years of fashionable purty running ahead of him.



You lie!



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ULIAR!


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Troll... World famous purveyor of hate, discontent, and annoyance!*

*Although Mr. Troll IS an equal opportunity annoyer.

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