Monetary policies meant to stimulate the economy may be hurting retirees on a fixed income. And the current economic environment is forcing some to put a hold on retirement altogether. Boomers nearing retirement age might not be able to hang up their hats just yet. As life spans increase and interest rates stay low, more people are finding themselves working longer.
We asked Ross LaRoe, associate professor of economics at Denison University, to comment on retirement in the near future. LaRoe teaches microeconomics, public finance and the history of economic thought. He also conducts seminars on contemporary economic issues.
Are boomers being forced to retire later?
Has the current economic situation changed retirement planning for baby boomers?
The financial crisis of 2007 to 2009 has eroded the value of many baby boomers’ retirement savings, causing them to postpone retirement plans. While the markets have recovered some of their losses recently, they continue to be volatile and, hence, an ongoing source of concern for many, if not most, of those near retirement.
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