How Older Workers Adapt to New Disability

One in four workers who are still healthy in their mid-50s will experience a disability in the next few years that will make working more difficult. Sometimes the disability stems from a sudden medical problem such as a heart attack, but many disabilities are just the accumulated wear and tear on aging bodies or chronic medical conditions that get worse. Whatever the cause, a new study in the journal Research on Aging finds that late-life disabilities often force older workers into early Retirement. Nearly three-fourths of the workers who experienced a new disability in their late 50s or early 60s had left the labor force before their full Retirement age. Among the people who didn’t have a disability, only a third had stopped working. The researchers also looked more closely at those with disabilities who did continue to work. Were they able to transition into a new job or occupation…

Originally Published on https://squaredawayblog.bc.edu/

Kim Blanton Squared Away Blog Writer

I’m a veteran financial and economics reporter, most recently for The Boston Globe, who has also written for The Economist and other publications. I uncovered scandals during the savings and loan crisis in Texas back in the late 1980s, trekked around the world to cover finance and economics in the 1990s, and ventured into Boston neighborhoods to cover the recent subprime mortgage crisis.

While covering subprime mortgages, I began to see the importance of financial behavior and literacy. Wall Street excesses certainly fueled the crisis, but a poor understanding of complex financial products also played a major role. I interviewed dozens of homeowners in the grip of foreclosure who had agreed to home loans that they did not understand and that their brokers did not or could not explain to them. The consequences for these individuals – and the country – were disastrous.

I use the same dogged reporting skills to cover financial issues of growing importance today, including the personal crisis that concerns millions of baby boomers: Retirement.