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WYPR Features

Sliding Into Poverty After Retirement

WYPR - 88.1 FM Baltimore | By Anirban Basu
Published November 1, 2018 at 12:41 PM EDT
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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. 

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Anirban Basu
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.
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