Last months unemployment figures were the highest for 34 years with a further 598,000 jobs lost and the trend is expected to continue with some experts expecting it to reach 9% by the end of the year. Long term unemployment is also growing with 2.6 million people being out of work for over six months.
AARP members looking for part time jobs to bolster their retirement incomes are facing stiffer competition. Richard Johnson, an economist at the Urban Institute. “This recession is bad for older people because they can no longer simply afford to retire when they lose their jobs like they did in the past. Now we have so many older people invested in the stock market through retirement plans, it’s really impossible for them to retire.”
AARP members looking for alternatives have begun to consider setting themselves up in business for themselves, where they can take advantage of tax breaks and earn extra money to meet retirement costs with the help of such groups as Tomorrows Home Business.
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