Many baby boomers are facing a difficult decision
By Dirk Perrefort
Staff Writer
Posted: 03/28/2009 07:25:05 PM EDT
DANBURY -- The best-chronicled generation in American history is having a tough time making decisions about when to retire.
Many baby boomers have seen their 401(k) retirement plan balances dwindle before their eyes -- by as much as 50 percent in some cases -- in the face of the worst economic times in decades.
As a result, a lot of folks in their 50s and 60s will need to continue working longer than they had planned.
"I was looking to retire soon, but I'm not able to anymore," said Gordon Feathers, 59, of Danbury.
"The economy has devastated our retirement funds," he related. "Originally, I wanted to retire at 60. I can't do that now."
Feathers, a math professor at Mercy College in New York, said he will probably continue to work in some form even after he retires.
"I'd probably still teach some classes," he said.
Feathers exemplifies what some experts say will be a growing trend among baby boomers -- semi-retirement.
Many boomers will have to decide whether to take reduced Social Security benefits at age 62 or wait until their full retirement age of 66.....
To retire -- or not to retire -- baby boomers ask themselves - NewsTimes.com
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