Six in 10 over-50s delaying retirement cited poorly performing 401(k)s as a factor

http://www.suntimes.com/business/2776444,CST-NWS-retire06.article

More people delaying retirement, survey finds

Many cite health-care costs, declining 401(k) as reason for working longer

October 6, 2010

BY KIM JANSSEN Staff Reporter kjanssen@suntimes.com

Fears over health-care costs and savings shortfalls have led two in five U.S. workers to delay their planned retirement date, according to a survey released Tuesday. snip

Older workers -- with less time to make up shortfalls in their shrunken 401(k) accounts -- and those in poor health, who rely more heavily on their employer's health insurance plan, are the most likely to have postponed retirement, the study found.snip

Half of all respondents cut their daily spending, while six in 10 over-50s delaying retirement cited poorly performing 401(k)s as a factor.

The economic downturn means more than half of all workers are willing to accept larger paycheck deductions in return for guaranteed retirement benefits, the survey found.

in order to survive long-term joblessness?

I know several people who have had to do that.

...put it in the Wall Street casino so the wealthiest can steal it.

Not good I bet.

One of the factors I considered when I retired at 48 with a decent pension and health insurance was that it would be good idea to open up a job for the next generation.

To many people fell for the "rugged individualism", line of crap and refused to unionize or support other US union workers. Now they are fucked. And the next generation right along with them.

Don