The retirement outlook for employees age 50 and older is well, its pretty bleak. But the stock market collapse from last fall and earlier this year isnt all to blame. New research shows that near-retirees arent taking advantage of open opportunities to claw back their retirement savings, and instead are slumping their shoulders and resigning themselves to working longer.
New analysis from Mercer shows that since the end of 2007 through April 30, 2009, participants under age 30 have seen an average account balance gain of 24%, while those 55 and over have lost an average of 16%. Why do whippersnappers have an advantage?
