According to AARP, for the Baby Boomers that are still in the workforce, 40% of them plan to work “until they drop.”

A recent survey of U.S. workers, that included all age groups, found that 54% plan to keep working when they hit retirement age, and 39% plan to either work past age 70, or never retire at all.

A CESI Debt Solutions survey found that 56% of U.S. retirees still had outstanding debts when they retired.

The University of Michigan found that people 55 years of age, or older, now account for 20% of all bankruptcies in the United States.  In 2001, they accounted for only 12% of all bankruptcies.

Between 1991 and 2007 the number of people between the ages of 65 and 74, that filed for bankruptcy rose by 178%!!!

The American Journal of Medicine reports that medical bills are a major factor in more than 60% of personal bankruptcies in the United States.  Approximately 75% percent of the people who file bankruptcy due to medical bills have health insurance!

More than 30% of all U.S. investors, currently in their sixties, have more than 80% of their 401k retirement plans invested in the volatile stock markets.

According to the Congressional Budget Office, the Social Security system paid out more in benefits than it received in payroll taxes in 2010. That was not supposed to happen until at least 2016.

The University of Chicago, and Northwestern’s Kellogg School of Management,  calculated the combined pension liability for all 50 U.S. states. They found that  all 50 states are collectively facing $5.17 trillion in pension obligations, but they have only $1.94 trillion set aside in state pension funds. That means, collectively, the state governments are short $3.2 trillion.

The U.S. government now says Medicare will run out of money five years sooner than they were projecting just last year.