There’s a new retirement trend that’s impacting more and more people. It’s a sudden or forced retirement where people are unexpectedly thrust into retirement before they are ready for it. If it hasn’t happened to you, it’s likely going to affect someone you know.
According to a 2010 report by the Employee Benefit Research Institute, 41% of retirees stopped working earlier than they expected. The most common reasons were:
• Poor health (54%)
• Corporate downsizing or closures (37%)
• Need to care for a spouse or family member (19%)
Forced retirement is a growing reality, leaving those affected with a host of questions and issues to resolve. I’ve put together several useful things for you, or those you know, to consider when dealing with this type of a situation.