Working longer as a retirement strategy may not be as effective as previously thought. Economist Teresa Ghilarducci argues that the responsibility for retirement planning has been unfairly shifted onto individuals. While some demographics see longevity gains, others experience stagnant life expectancies due to work-related stress. Ghilarducci suggests a “Gray New Deal” to address these issues, emphasizing the importance of government support and realistic financial planning. Mary Dotson, 77, relies on food pantries to make ends meet as her Social Security check falls short. Economist Ghilarducci proposes a Guaranteed Retirement Account to supplement Social Security for all workers. Contributions would be matched by the government, and workers would manage their accounts. The plan faces opposition from brokerage industry lobbyists.

Read more at Yahoo Finance: Working longer won’t save your retirement, expert warns