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Retirement's slump: just how bad is it right now for boomers?

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You know things are bad for boomers when AARP says the recession is hitting its members hard. Reuters reports AARP’s recent survey of Americans aged 45 and older found many had suffered savings and investment losses, are having trouble paying for essentials such as food, gas and medicine and are planning to postpone retirement.

Furthermore, Consumer Reports recently released its latest retirement survey and found 51 percent of retired readers and 55 percent of those just short of retirement are facing investment losses of at least 20 percent in the past 12 months.

AARP says it is working to ensure the stimulus package being developed by President-elect Barack Obama includes help for the unemployed and aid to cash-strapped states for health care, and is also seeking help for homeowners facing bankruptcy, money for job training in health care professions, and aid for doctors and hospitals to upgrade health information sharing technology.


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