SENIORS SHOULD RE-THINK UN-RETIRING AND CONSIDER ALTERNATIVES: REVERSE MORTGAGES

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It seems that larger-than-anticipated bills and smaller-than anticipated savings are driving seniors out of retirement and back into the work force.   Increased traffic at Robert Skladany’s website, www.retirementjobs.com, is just one indicator of this sudden influx. Mr. Skladany says that the number of people coming out of retirement to re-enter the workforce has roughly doubled in the past year.
Additionally, there has also been an increase in the number of unemployed job seekers over the age of 50 who do not consider themselves “retired”. Furthermore, older workers are delaying their retirement dates as due to the decreasing values of their 401(K) accounts.


According to a new study by MetLife, current workers between the ages of 55 and 65 expect to keep working until they are 70 while workers over the age of 66 anticipate working until they are 76.


Undoubtedly, the US job market is already weak. However, conditions are even worse for older jobseekers as is takes, on average, seven and half months for seniors to find a job according to Labor Department figures. The MetLife study concludes by stating "[There's] a disconnect between those in their late 50s and 60s who aspire to continue working and the realities of a job market that tends to treat many older job candidates as, at best, irrelevant."  On www.seniorjobbank.org, there are roughly 100 job seekers per job posting, according to publisher Gene Burnard.


Furthering the already difficult conditions facing senior job seekers is the fact that places like Flordia, California, Arizona, and North Carolina-all of which are popular retirement destinations-are currently experiencing above average unemployment rates.

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