Reply #4: With folks in their early 50's being laid off due to downsizing what do

[KoKo]

they do to find work between their 50's and their 70's? And what do they do to obtain health insurance until Medicare kicks in? With few companies offering pensions lots of folks now are dependent on their 401-k's. With the money that's gone out of them, and the job layoffs it is hard enough to wait until 67 (the age for many of these folks) before they can get any money to live on afgter their savings are gone.

This is going to be a big problem in the coming years. Older workers are not hired....and it's not like most of them are fit enough to do roofing and heavy construction. What about all the Middle Managers? All the Tech folks......Downsizings and mergers have wiped out their jobs.

What does one live on when saving have been wiped out, you can only earn 1% on what you have now....and the market is down?

I don't think anyone is thinking about that. I didn't either in my 20's and 30's until my dad in this late fifities (an Engineer for the Government) got laid off and had to retire. He was eligible for Social Security back then at age 62 and he had a pension so he didn't suffer. But, today it's very different for folks in their late 40's and 50's.