Many Face Forced Retirement
According to a recent report
released by McKinsey & Co., 40% of
retired workers were forced to leave
their jobs earlier than they had
planned, typically due to health issues,
termination of employment, or having
to care for a loved one.
The survey polled 3,086 people, age 40
to 75, and included both retirees and
those currently employed. Results
showed 45% of those still working
plan to continue working past age 65.
However, only 13% of the retirees who
participated in the survey worked past
age 65.
The findings prompted David Hunt, a
senior partner at McKinsey to
conclude those "who are betting on
simply working longer to compensate
for a lack of current savings are
setting themselves up for a rude
awakening . . ."
Source: Los Angeles Times, 5-15-06
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