However, unlike people in their twenties, people in their fifties might not be able to recalibrate. While a small minority say they plan to retire prior to reaching the traditional workforce exist age of 65, most won't make it. The leading reasons for the change of plans: a health crisis, either personally or that of a loved one.
It's a double whammy: the middle aged are also racking up debt to pay for their own further education. The response of numerous personal finance and workplace gurus to our retirement predicament has been to beg people to stay in the workforce as long as possible. Heck, even AARP ran a commercial campaign a few years ago asking the over 50 what they plan to be "when I grow up." As a result, programs have proliferated that promote the idea that all an unemployed or underemployed fiftysomething needs is a new credential or an encore career and well, voila all will be well again.
Different world now economy still not good scholarships few and far between costs up every year and student debt sky rocketing.