Working Longer: The Solution to the Retirement Income Challenge

by Alicia H. Munnell, Steven A. Sass

" Daily headlines warn American workers that their retirement years may be far from golden. The main components of the retirement income system—Social Security and employer-provided pensions and health insurance—are in decline while the amount of income needed for a comfortable retirement continues to rise. In Working Longer , Alicia Munnell and Steven Sass suggest a simple solution to this postponing retirement by two to four years. By following their advice, the average worker retiring in 2030 can be as well off as today's retirees. Implementing this solution on a national scale, however, may not be simple. Working Longer investigates the prospects for moving the average retirement age from 63, the current figure, to 66. Munnell and Sass ask whether future generations will be healthy enough to work beyond the current retirement age and whether older men and women want to work. They examine companies' incentives to employ older works and ask what government can do to promote continued participation in the workforce. Finally, they consider the challenge of ensuring a secure retirement for low-wage workers and those who are unable to continue to work. The retirement system faces very real challenges. But together, workers, employers, and the government can keep this vital piece of the American dream alive. "

207 pages, Hardcover

First published January 1, 2008

About the author

Full name: Alicia Haydock Munnell.

Reviews

[Vincent · Rating 1 out of 5]

Not that I am suddenly contemplating retirement but given the ongoing talk about pushing back the age where benefits kick in, I thought it useful to learn more about the issue. Munnell takes a very scientific and data-driven approach to the question. Every few pages there's a pie chart, bar graph or other set of statistics. In essence, she argues that Americans should on their own work longer so that they don't have to lean so heavily on the federal social security system. This, she says, should not be a big problem since the average worker in this country is better equipped than ever to work late into old age.
Why?
Because we are smoking less, eating better and being asked to do less physical work. The smallest percentage of jobs ever are blue collar meaning that staying at work may just mean staying at a desk longer.
She notes that there are not many government incentives to working longer and says instead the US should not tax wages of older workers to make it sweeter.
Although there are some good thoughts in this book, it is profoundly boring.

[Jane · Rating 3 out of 5]

Found this book at a public library and used it in two different 10 page papers now. It has some decent information about retirement. This is why I don't have time to read as much fiction right now.