Americans Closest to Retirement Were Hardest Hit by Recession - NYTimes.com
Mark Twain wrote: "There are three kinds of misstatements: Lies, Damned Lies and Statistics." I wish that the link above was indeed a misstatement, but it is not. In the article by the NY Times is a link to an NBER paper on the statistics of "being laid off at the age of 57-59". Their conclusion: subtract three years from your life expectancy. Those of us that were in this age range (I was 57 when laid off six years ago) and laid off during the Great Recession can expect nothing but bad news. Part time low paying jobs with no benefits; liquidating assets to pay for the basics of life; depression / low self esteem; poorer health as one delays health care until the symptoms are too big to ignore; statistically dying three years before your time.
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