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Sliding Into Poverty After Retirement

Here is a shocking forecast.  Nearly half of middle class Americans face a slide into poverty as they enter retirement – this according to a recent study conducted by the Schwartz Center for Economic Policy Analysis at the New School.  The risk of losing middle class status in retirement has been driven by a number of factors, including depressed earnings and rising health care costs.  This is causing 74 percent of Americans to plan to work past traditional retirement age. 

Anirban tells us more. 

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.