The headline on today's front page of The New York Times read "For the Unemployed Over 50, Fears of Never Working Again". The article was replete with depressing stats, like:
- >55 unemployed: 2.2 million
- > 55 unemployment rate = 7.3% (more than double from the beginning of the recession)
My guess is that if these people are anything like most Americans, they had planned to work well into their sixties. But as I used to warn my clients who espoused the "I'll just keep working forever" retirement plan, sometimes life doesn't hand you that opportunity.
But if you're lucky enough to be in the position to retire, like this lovely tennis fan, then here's what you need to do:
Jill Schlesinger
Jill Schlesinger, CFP® is the Emmy-nominated business analyst for CBS News. She covers the economy, markets, investing and anything else with a dollar sign on TV, radio (including her nationally syndicated radio show), the web and her blog, "Jill on Money." Prior to her second career at CBS, Jill spent 14 years as the co-owner and chief investment officer for an independent investment advisory firm. She began her career as a self-employed options trader on the Commodities Exchange of New York, following her graduation from Brown University.
