Many baby boomers in Arkansas and across the country can look forward to a retirement period not even remotely envisioned by their parents. For many people, the “golden years” now signifies a high quality of life that surpasses by decades the post-working years of previous generations.

That is assuredly a good thing.

Notably, though, it can also spell more than a modicum of angst and hardship for Americans who leave the work force and contemplate many years of life ahead without a continuing paycheck or other resources to sustain themselves.

That is becoming a commonplace across the country as boomers approach or ease into their 60s by the millions. Although many of those who wish to continue working are able to hang on to their jobs or secure new employment, many are let go by their employers and cannot find new jobs.

In the absence of sufficient funds, that can equate to true hardship.

The special plight of some boomers has been well noted by financial experts and other media commentators. Many people in that age demographic have not saved sufficiently for retirement, yet are finding themselves nudged out the workplace door. That often happens while they are still spending money on their own parents and kids. Soaring medical debt entraps many of them, as do credit card outlays and other expenses.

That can lead to bankruptcy, and at an especially vulnerable point in life. The National Foundation for Credit Counseling states that about three of every 10 people who sought its advice in 2012 did so for bankruptcy-related reasons. Many of those people were 55 years of age or older.

Seeking candid and confidential advice about bankruptcy can be a wise move for any person struggling with unmanageable debts. An experienced and client-empathetic Little Rock bankruptcy attorney can answer questions and discuss possible solutions to debt challenges.

Source: The Indiana Gazette, “Average retirement age creeping ever higher,” Abby Ellin of the New York Times News Service, Feb. 2, 2014