Bumpy Market Has Many Delaying Retirement, Survey Finds
New York Times (12/17/02) Vol. 18, No. 4 p.C9; Arnone, William J.

According to a recent poll taken by the AARP, 77 percent of workers between 50 years old and 70 years old claimed to have lost money in the stock market since 2000, and 30 percent have either returned to work, started looking for work, or are considering one of those steps. About 54 percent said their stock market losses were less than 25 percent, while another 9 percent claimed to have lost over 50 percent of their retirement savings. As a result of the stock market losses, 60 percent stated they were planning their budgets more carefully, and 4 in 10 respondents claimed that they would be less comfortable in retirement than they had expected. AARP Director for Federal Affairs David Certner says that the survey highlights the need for stronger investment and pension protections and improved financial education.

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