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Golden Years Not So Much for Some Retirees

Retirees and older Americans are among those hardest hit by the economic crisis. Many live on fixed incomes and depend on returns from investments that have taken a nose-dive.

A recent survey by AARP shows that more than one in four middle-aged and older workers have postponed retirement because of the economic downturn. And some retirees are even going back to work.

The Work Place, a career center in Boston that offers guidance to people looking for work or new careers, reports a 10 percent increase over the last year in people 55 and older seeking counseling.

Jerry Rubin is president and CEO of the Jewish Vocational Service, which runs The Work Place.

RUBIN: More individuals are concerned about their retirement and their retirement savings, and so they're feeling the pressure either to stay in or to get back into the job market. I can only think that will increase in the coming months as individuals who are in that age bracket find their assets diminishing.

This morning we meet retirees who are indeed concerned. We hear first from Joe and Evy Megerman, then we hear from Bob and Sharon Blake.

This program aired on October 14, 2008. The audio for this program is not available.

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