Many workers who are closer to retirement can be tempted to consume rather than save.

Our findings show that too many workers are not looking at their 401(k) savings as long-term in nature, but are instead using termination of employment as an opportunity to spend this money,

Employers are trying to give workers vehicles ? such as lifestyle funds ? that make diversification easier.

[As for himself, the hurricane and flood have eroded any ambitions he had for an early retirement, and he harbors little hope for the city to be rebuilt within two years.] I can’t wait two or three years for the city to come back, ... I’m 48 years old and it’s freaking me out (having to relocate), but I just love it up here. I tell my mom it may end up being the worst decision I make in my life, but for now I’m happy.

There were a lot of older workers, some close to retirement who worked there, and it will be hard for them to find work.

Parents are the workers at the carnival. It takes over 400 people to do it - that's an amazing number. We sure want them all to know that it's very much appreciated.