Rose Syracuse has held one job - one job only - for her entire life. For 73 years, she worked mainly in the accounts department at the Macy's Department store on 34th Street in Manhattan. She's worked for Macy's longer than anyone else - ever. And last week, after all those decades, she retired. Rose Syracuse joins us on the line from New York. Thank you very much for taking the time to talk to us.
ROSE SYRACUSE: Oh, that's fine. And Rose Syracuse would not have retired if she hadn't broken her hip.
Anyone with a 401(k) retirement plan has been painfully aware of the gyrations in the stock market in recent years. The market has come back up lately, but the economy is still in low gear, so many analysts aren't too bullish in the short term. Also, treasuries and CDs are offering tiny returns.
So what's the average American trying to save for retirement to do? Answers are percolating at an annual economics retreat in Maine.