Retirement as We Know it May Soon Be a Thing of the Past

Years ago, retirement meant spending your days playing golf, shuffleboard, or canasta. That life doesn’t seem to exist anymore. A report by CBS News states that most people of retirement age just can’t afford to stop working. It cites a study by the Pew Research Center that found that one in five people over age 65 — approximately 11 million Americans — are still working. The joke is that working is the new retirement. 

Some analysts are pointing fingers at the demise of traditional company pension plans after the introduction of 401(k)s. Without forced savings, workers were not saving enough to sustain themselves through retirement and Social Security only covers a fraction of retirement income.

The Seniors Trust is committed to improving the financial well-being of America’s retirees through the passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and will ensure the long-term solvency of the Social Security program.