Working Longer: The Solution to the Retirement Income Challenge
"This book is a badly needed wake-up call. With lifetime pension plans dwindling and employer health benefits to retirees shrinking drastically, Americans--especially the Boomer generation--need to face the reality that Munnell and Sass describe: longer lives, higher costs, and inadequate savings in their 401k plans and elsewhere. This means that average Americans are going to have to work longer or face poverty in their so-called golden years." —Hedrick Smith,correspondent, PBS Frontline: "Can You Afford to Retire?""The United States has a retirement income problem. This remarkable book examines one potential solution to the problem: increased work by older Americans. Munnell and Sass provide thoughtful answers to the key questions. This is a lucid, thorough, and thought-provoking contribution to a very important debate." —Robert Hutchens,Cornell University"We have made remarkable progress in improving health and longevity. Now we need to figure out how to finance the substantially longer retirements these gains have produced. In Working Longer, Munnell and Sass make a strong case for moving the average age at retirement from 62 to 65 or 66& #151;and thereby safeguarding the future of most retirees. Anyone who is interested in preparing our country for a better retirement future should read this elegant essay." —John H. Biggs, former chairman and CEO, TIAA-CREF"The retirement landscape is different from the one you might have imagined just a few years ago. The good news is that you're living longer. The bad news is that health care will cost more, pensions are shrinking, and your investments might not have grown as fast as you'd hoped. Munnell and Sass show you how& #151;by working a little longer& #151;you can overcome these challenges and live the retirement you'd planned." —Jane Bryant Quinn, financial columnist and author ofSmart and Simple Financial Strategies for Busy People"As Americans live longer and healthier lives, many seniors will need to generate additional income to remain financially secure. The skills, experience, and expertise of these seasoned workers can only stand to benefit our economy. This book is a timely and comprehensive look at the challenges and opportunities of recruiting and retaining older workers." —U.S. Senator Herb Kohl (D-Wisc.), Chairman of the Senate Special Committee on Aging"The books provides a concise summary of a wealth of evidence about retirement decisions and a handy guide for middle-aged Americans on how to stay well-off when they hang up their shoes." —The Economist"A well-researched, thoughtful explanation of a critical national issue and a well-reasoned proposal to cope with this challenge. Highly recommended." —CHOICE"Working Longertackles the issues of surviving one's so-called golden years." —Harry Hurt III,New York Times"Working Longeroffers a prescription that readers may find a bitter pill: keep working.... [The authors] have studded their brief, well-organized book with tables, charts, and graphs." —Wall Street Journal