Will We Ever Retire?: Everyone, Back in the Labor Pool

Eroding pension benefits, longer life-spans and a major meltdown in stocks add up to this: most of us will have to work well into our 70s

Martha Parry had had it all figured out when she sold her small insurance firm in Massapequa, N.Y. Her house was paid for, and she would be receiving monthly payments over the next two years from the sale of her business. Those proceeds would cover her expenses until she turned 65 and started collecting Social Security benefits. Meanwhile, the $1 million she had managed to save in tax-advantaged accounts would grow to $1.3 million or so. Only then would she start tapping the income from her nest egg. Parry looked forward to filling her golden years with golf, restaurant meals and...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!