America’s Elderly Are Twice as Likely to Work Now Than in 1985

Just as single-income families began to vanish in the last century, many of America’s elderly are now forgoing retirement for the same reason: They don’t have enough money. Rickety social safety nets, inadequate retirement savings plans, and sky-high health-care costs are all conspiring to make the concept of leaving the workforce something to be more feared than desired.

For the first time in 57 years, the participation rate in the labor force of retirement-age workers has cracked the 20 percent mark, according to a new report from money manager United Income (PDF).