The Federal Reserve is giving us a choice – work forever, or make sure to die before running out of money.
The New York Times just featured a spry 71-year old Judith Lister who is teaching kindergarten in Pahrump, Nevada. While Ms. Lister enjoys teaching, she admits she can’t live on her Social Security checks and needs her teacher’s pension, which she can’t collect for three years.
Seniors who can’t find work sometimes look for a quick exit.The Times’ Paula Span explains that Ms. Lister is not alone, writing, “Over 16 years, employment rose not only among 65- to 69-year olds (close to a third now work), but also among those 70 to 74 (about a fifth). In the 75-plus population, the proportion still working increased to 8.4 percent from 5.4 percent.”