Economic downturn affects older workers

The downturn in the economy has forced many older workers to rethink their retirement plans.  Many who put money away for their golden years saw those funds take quite a beating in recent weeks.  And then there are people who didn’t have savings; they just can’t afford to retire.

A recent U.S. census survey found that older workers are participating more than ever before in the workforce.  Right now one out of every eight workers is over 65.  By 2030, it will be 1 in 5.

Economists say this is a good thing, because there aren’t enough people to replace retiring baby boomers.  But, is this always a good thing for older workers?

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