by Ashlea Ebeling
posted by Jameel Murray
The current downturn will likely sharpen the financial gulf between the most affluent, best-educated retirees and the poorest ones. That, at least, is the conclusion suggested by new data from the Social Security Administration and a new study by Phillip Levine, chair of the Department of Economics at Wellesley College.
For all their bellyaching about declines in the value of their 401(k)s, the best-educated older workers, whose skills are most in demand, usually have a way to make up for their losses: work longer. The less educated, particularly during a recession, often do not have that luxury and end up forced into an early retirement.
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