Big Income Losses For Those Near RetirementSubmitted by emalvini on Fri, 08/24/2012 - 04:02
Big Income Losses For Those Near Retirement
By CATHERINE RAMPELL
August 23, 2012, 2:00 pm
Americans nearing retirement age have suffered disproportionately after the financial crisis: along with the declining value of their homes, which were intended to cushion their final years, their incomes have fallen sharply.
The typical household income for people age 55 to 64 years old is almost 10 percent less in today’s dollars than it was when the recovery officially began three years ago, according to a new report from Sentier Research, a data analysis company that specializes in demographic and income data