Business

Older people prefer retirement from work
by kristina leskova

The recession caused that many people lost their jobs. When we take closer look at the situation in United States of America we find out that there is a huge number of unemployed people. Many of these people are older and they decided to retire. For the country this means that Social security will have to pay more than it collects in taxes. This situation is expected to continue at least next two years. When we take look into the history this situation happened around the year 1980. Fortunately Social security has enough money from previous years in the amount of 2,5 trillion dollars. There are many people who retire because they need money. It was expected that number of ! retirees will increase but it was not expected so high number. Many of these people would like to work further even though they reached the age to retire. But due to recession many older people were laid off and what would you do? Would you stay unemployed without money, just waiting for some job? Or would you rather retire and get at least some money? People have to pay their bills and they can not wait too long for some job. And to find a job seems to be not very easy. Of course it is better to work longer because after that you will get more money as retiree. But if there is no other possibility it is better to have the security and monthly get the money. The average monthly benefit is 1100 dollars. About 2,2 million people applied for Social security benefits in October through July. In the same period but during last year this number was only 1,8 million people. American president wants to handle this problem in the next year.

related story (sgx15478): http://news.yahoo.com/s/ap/20090927/ap_on_go_ot/us_social_se...

by kristina leskova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 3:40 PM