Personal Liberty Digest™ will be upgraded this weekend to reflect a dynamic new look and mobile-friendly viewing to enhance your experience! Plus, we'll be providing even more of the compelling content you've come to expect, delivered in a whole new way!

  Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty

Financial crisis worries retirees

December 12, 2008 by  

Will you still have a nest egg?The financial events of the past year or so have not made it easy for many people to sleep easily, but retirees may be among the worst-hit groups.

A Reuters report explores the way that millions of middle-class and upper-income retirees are facing huge losses in their savings because they invested in stocks rather than more secure investments.

Just a few years ago, these same people may have been making significant profits from this decision – but when the stock market began its downward spiral, not everyone was able to protect themselves.

Some blame the situation on the way that retirement accounts work in the U.S. Instead of a pension system, most people receive income from a 401(k) or other type of investment-base account.

"Late boomers will fare far worse than their parents and grandparents in terms of replacing their income in retirement, mainly because of the erosion in the employer pension system," Teresa Ghilarducci of New York’s New School for Social Research told the news provider.

According to AARP research, people who are nearing retirement no longer expect to be able to live as well as they once did, with 69 percent of workers aged 45 or older saying they plan to spend less in their golden years.

Personal Liberty News Desk

Facebook Conversations

Join the Discussion:
View Comments to “Financial crisis worries retirees”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at


Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.