For Many Seniors, There May Be No Retirement

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Many older people are finding themselves in a position they never expected to be in at retirement age: still working or in need of a job.

And the laundry list of reasons just keeps growing. Already battered nest eggs took another beating this month with the market's wild swings. With interest rates essentially at zero since 2008, income from Treasurys and certificates of deposit is pretty paltry. And the Federal Reserve recently said it would likely keep rates "exceptionally low" through mid-2013. On top of that, housing prices are still in the doldrums, leaving homeowners with much less equity to tap.

More than three in five U.S. workers in their 50s and 60s plan on working past 65 — and 47% of that group say they'll do so because they'll need the money or health benefits, according to a 2011 study from the nonprofit Transamerica Center for Retirement Studies.

But in this tight labor market, working into your golden years isn't easy. And you'll have to make your age and years on the job come across as assets, not liabilities. In addition, with the current market upheaval, you'll need a financial plan that puts your savings on the fast track and takes into account how Social Security and Medicare benefits could be affected.

http://finance.yahoo.com/focus-retirement/article/113381/many-seniors-keep-working-wsj;_ylt=AvaO472s7FnMlPhlTrZGxSS7YWsA;_ylu=X3oDMTE1NnRnc3Q2BHBvcwMzBHNlYwNmaWRlbGl0eUZQBHNsawNmb3JtYW55c2VuaW8-?mod=fidelity-changingjobs&cat=fidelity_2010_changing_jobs