Published weekday mornings as the coffee brews
this seems to be the opposite effect - unless the indication is that the market tanking means we cant afford to hire geriatrics.
As I read this it is, as the Value of the Market goes up the number of older folks in jobs declines.
I believe the assumption is that old people would rather not have jobs, but with the declining stock market they don't have much choice.
I think kanthalion nailed it. Case in point, my mother-in-law's employer (a bank) laid off 78 of its 200-some employees yesterday, and she (at 50 years of age, had been employed there for quite some time) was one who got the pink slip. But at least she was one of the few who actually got a severance package. :\
So what age is old?
Mike...old age is getting younger and younger every day...I will never retire, at this rate...nor will my son!
Anyone with half an ounce of common sense moves more and more money out of the market as they approach retirement, to hedge against a big drop in stock values right before retirement.But if you're just talking about the negative impact of a down market on people's ability to "catch up" on retirement savings, well ... yeah, that's the risk.Regardless, it's amusing how those who are lamenting our "Great Depression" market and the economy right now are the same ones who want to tax the pants off profitable, successful, publicly owned companies like Exxon. What's that saying about cake?
If 25.5 is old that makes me about2.42470588 times old. Thank goodness I retired at 2.04235294.
Shouldn't the graph be in the form of y=x.As the value of the stock market declines, more old folks will move out of retirement or extend their retirement age. This is so since pension fund will be having low return, inflation might be increasing.
Again some pretty daunting thoughts. So what is the solution..we have to stop dwelling on the problem and start dwelling and acting on solutions..carol stanley author of For Kids 59.99& Over
As of this week, you will need a much larger index card to capture the zeitgeist.
huh...I read it more like, as more and more boomers retire, the economy steadily goes into the toilet.
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