Hold the Tears: Retirees Came Through Recession Best

Let's stop sobbing for the supposed struggling retiree. They are fewer in number than we've been led to believe, and on average elders have emerged from the Great Recession in far better shape than any other generation, new evidence suggests. From 2007 to 2010, median income for families headed by people aged 62 to 69 rose 11.9% to $56,924; for households headed by people over 70 the increase was 15.6% to $31,512, according to a paper from the Federal Reserve Bank of St. Louis. Every other cohor...