If they are living in poverty, it is difficult for single women with children to provide for their present needs, let alone plan for the future. For many, FICA taxes deducted from the paycheck is the only pension plan they have. If they are on welfare, they do not have even that much and certainly cannot save any money.

Many people work hard for an early retirement so they can enjoy their later years travelling, fulfilling a dream, or just making their own schedule. Then their company goes bankrupt or decides to get rid of the pension plan.

There is the older homemaker without skills or a profession whose husband deserts her or dies.

Nowadays, a lot of people are wary of 401k plans, and one must have a large sum of money to start an IRA. However, if a person could manage to save $1000 to begin an IRA, it would be there when the job or company pension plan disappears. I understand it is better to not invest in the company one works for (as the Enron employees did) but to make low risk diverse investments in 401k plans.

Some are willing and able to work beyond retirement and do so, especially if their jobs are not physically demanding. Experience is a valuable asset.

However, the bodies of folks who do heavy physical work wear out earlier than the retirement age of 67. I believe, like Senator Bill Thomas, that these people should be able to retire earlier with full benefits. They do not usually live as long, anyhow.

I also believe strongly that the seniors who are financially able to retire should do so and let younger workers who need jobs replace them in the workplace. As some one already mentioned, there is a lot of volunteer work available.

Sometimes young people become disabled due to accidents or other circumstances beyond their control. Then there are those unfortunates who have always been mentally or physically disabled and are unable to plan for the future. Thank goodness for government programs and charities which sustain them.

I think that nowadays more young people are aware of retirement plan options than perhaps twenty years ago. Due to the Social Security crisis there is a lot more discussion of retirement plans in the various media which has been educational in nature.