Dennis Tubbergen Writes About Delays in Retirement

Americans working longer can cause problems for those who are unemployed.

Grand Rapids, MI -- (SBWire) -- 05/10/2013 --For those of us who are too busy to stay on top of events in the world's economy, financial advisor Dennis Tubbergen lends a helping hand.

Tubbergen is a financial advisor, author, radio show host and CEO of PLP Advisors, LLC. Tubbergen does his best to give brief updates when it comes to some of the latest significant events in U.S. and world economics and politics and how these events may impact the average American.

Whether people enjoy his weekly newsletter at or his blog at, Tubbergen can be counted on to share his viewpoints and opinions. On May 1, 2013 his blog was titled Bad News if You are Unemployed - More People Planning to Delay Retirement.

"According to a report in The Wall Street Journal, nearly 2 out of 3 Americans aged 45 to 60 plan to delay retiring for a while and continue to work," began Tubbergen. "That is not necessarily welcome news if you happen to be looking for work."

Below Tubbergen quotes from the January 13, 2013 article.

The American workplace is about to get grayer.

Nearly two-thirds of Americans between the ages of 45 and 60 say they plan to delay retirement, according to a report to be released Friday by the Conference Board. That was a steep jump from just two years earlier, when the group found that 42% of respondents expected to put off retirement.

The increase was driven by the financial losses, layoffs and income stagnation sustained during the last few years of recession and recovery, said Gad Levanon, director of macroeconomic research at the organization and a co-author of the report, which is based on a 2012 survey of 15,000 individuals.

Matt Stern, 51 years old, a former analyst at a Manhattan hedge fund, met with a financial planner in December, days before he was laid off and the fund announced its imminent liquidation. At the meeting, the planner projected that Mr. Stern could retire at age 62. But now, with his assets down 10% to 20% from their 2008 peak, he is looking for a job and retooling his expectations for retirement.

"I might have to prioritize income over whatever calls to me on other levels," such as travel or being involved in nonprofit organizations, Mr. Stern said.

The labor force has been getting older for decades for reasons that range from longer life spans and better health to companies' replacement of defined-benefit pensions with higher-risk 401(k) plans.

But the stark increase in workers expecting to stay on the job - now 62% -- was a surprise, Mr. Levanon said. After all, the stock market has largely earned back its losses, home prices are rising, and the unemployment rate is creeping down, all of which suggests workers should be feeling more secure.

Many middle-aged Americans, though, drew down their savings during those lean years and now find that leaving the work force on their original timeline is no longer viable, he said.

They are also facing low interest rates, an uncertain future for Social Security, and a lower likelihood of receiving employer health insurance after retirement.

"There is one factor related to every other factor mentioned in this article," notes Tubbergen. "Demographics. Baby boomers have been reaching retirement age at a rate faster than any time in the past several decades. When these baby boomers were working and paying Social Security taxes, the program worked because there was a huge group of workers supporting a relatively small group of retirees."

Tubbergen goes on to say that interestingly, the economic showdown is largely attributable to this group as well. Economist Harry Dent, a past guest on Tubbergen's Everything Financial Radio Show, has done a significant amount of research on adult spending patterns.

"He's concluded that consumers spend the most money on average between the ages of 45 and 50 when they have children in college," states Tubbergen. "Once these same folks become empty nesters, they pull back on consumer spending. That's not good for an economy dependent on consumer spending for 70 percent of its output."

To read the blog in its entirety go to and select his May 1, 2013 entry.

Tubbergen’s syndicated radio show can be heard on metro Michigan stations WTKG 1230 AM and WOOD Newsradio1300 AM and 106.9 FM.

About Dennis Tubbergen
Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices in Grand Rapids, Michigan. Tubbergen is CEO of PLP Advisors, LLC and has an online blog that can be read at To view Tubbergen’s latest Moving Markets? newsletter, go to

The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.

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