When your hair is gray and your job has gone away: How to handle sudden retirement

DENVER BUSINESS JOURNAL - Times are tough for job hunters on the wrong side of 40.

According to a 2016 article in US News & World Report, there are 2.4 million unemployed Americans over age 45, and 1.3 million of them are 55-plus. This may include you or friends you know.

What’s next?

The new reality

A manager in the financial services industry explained that retirement in the 21 st century will be considerably different from the traditional version. People’s income in retirement will likely come from three source

  • Social Security benefits
  • Income from their 401(k) defined benefit pension plan, rolled into an IRA
  • Earnings from a small part-time job they take on in retirement

The third point is validated by a U.S. Department of Labor blog, “Why more people ages 55+ are working." It states, “According to one study, about 60 percent of older workers with a 'career job' retire and move to a 'bridge job;' that is, a short-term and/or part-time position."

Read more at the Denver Business Journal: http://bit.ly/2tIwCUW

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