Think unemployment only affects younger workers? Not according to this Wall Street Journal article, which reports that many Americans in their 70s and 80s are looking for work to cover such expenses as mortgage payments, medical bills, and outstanding loans. These sept- and octogenarians are up against younger workers to find work and be able to pay their accumulating bills.

It seems the dream of retiring at the old age of 65 just isn’t realistic anymore – especially with the current recession. Pensions have been cut or eliminated altogether, Social Security will be bankrupt within the next 10 years and people just aren’t saving as much as they used to.

So what’s a person to do? Other than the obvious (don’t be unemployed), we should all remember the advice of our grandparents: save, save, save. Live within your means, think twice before spending money on something you don’t really need and learn to take care of yourself. Because, chances are, an increasing number of employers won’t.