We hear about older Americans who think they will have to keep working until they are 80. They are right; they should. But it’s all talk.
The Federal Reserve Bank of St Louis in 2008 started publishing a graph on the percentage of American 60 or older who are still looking for jobs or who have jobs. Today, it’s 24%.
These poor people think Social Security and Medicare will survive. They will have a rude awakening, at a time when they are old, rusty, and unemployable.
Then what? The will sell their homes and move in with their kids, who are not planning on this.
They think the government can be trusted. Silly people.