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Retirement Wellness: Toward a More Complete Framework

A Stanford Center on Longevity project with support from the Society of Actuaries recently drew up a road map for thinking about living long and living well in America. Results identified three domains for successful living in old age: healthy living, financial security and social engagement.

My own approach to retirement wellness includes these three domains, but I also believe it’s critical to add two more: having suitable housing, and being passionate about something.

Read the full article at Forbes.

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Longevity: The Economic Opportunity Of Our Lifetime

As we live longer, our society is being transformed in ways we couldn’t have imagined. It’s vital that individuals and businesses recognize the tremendous potential of this longevity revolution. Far from being an economic challenge, our aging population could generate the most significant economic opportunity of our lifetime.

The “Silver Economy” is becoming an increasingly powerful force.

Read the full article at Forbes.

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The Taxing Problem Due to an Aging Population

Why are state fiscal leaders concerned about the aging of the population? As people age, they are inclined to earn less, and as a result they bring in less money for states through income taxes. They’re also inclined to spend less, which can decrease sales tax revenue.

Read the full article at Next Avenue.

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The ‘Never-Retirement’ Plan: Many Millennials Plan To Keep Working, Survey Says

Are some millennials planning to work, well, forever? It seems so, at least according to a new report looking at financial plans of Americans.

A stunning 83% of millennials said they intend to work in retirement, according to the discount brokerage service Merrill Edge’s survey of more than 1,000 Americans conducted this fall. Compare that with current retirees, 83% of whom do not work now, or never have during retirement. In addition, half of younger millennials (those aged 18-24) anticipate needing a side job to reach their retirement goals.

Read the full article at Forbes.

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A Startling Number of Seniors Have Been Victims of Financial Abuse – Money

A new survey of caregivers finds that about 37% of seniors have experienced financial abuse — almost double the estimated 20% that Allianz Life found when it last conducted its survey in 2014. And many of them aren’t talking about it.

Read the full article at Money.

11/2/2016 – 6 retirement strategies from a local pro

“What strategies does a retirement expert employ for his personal use? I bet you could learn a thing or two from a professional who has studied retirement all his life and is now in his early 60s, planning for his own retirement years.

That’s me — I’ve worked as a consulting actuary helping employers and workers with retirement issues for more than 40 years. Along the way, I’ve written five books on retirement planning, been a weekly retirement columnist at CBS MoneyWatch for over seven years and conducted research on retirement topics for the Stanford Center on Longevity for almost four years.”

Read the full article by Center on Longevity Research Scholar Steve Vernon at CBS MoneyWatch.

10/27/2016 – Here’s what happens when someone is forced to retire because they’re ‘old’

Mandatory retirement is still in the workforce, and it’s causing problems as people live — and work — longer.

Being compelled to leave a job because you’ve hit a certain age could impose significantly negative consequences on older employees, and experts say such a requirement shouldn’t exist at all.

Read the full article at MarketWatch.

10/11/2016 – Let’s retire retirement

At a recent BlackRock Retirement Roundtable, Stanford’s Laura Carstensen, Encore’s Marc Freedman and Brookings’ Josh Gotbaum discussed the different ways that our current concept of “retirement” is outmoded.

Read the full article at BlackRock Blog.

10/6/2016 – Advice for Boomer Bosses on Millennial Employees, and Vice Versa

Americans are now living an average of 30 years longer than a century ago, according to research from the Stanford Center on Longevity.

While this trend actually worries many baby boomers and Gen Xers who wonder if and how they’ll be able to ever afford retirement, millennials have emerged as the most “optimistic generation” when it comes to embracing the new possibilities afforded by this increased longevity, according to a recent study by insurance company Allianz Life.

Read the full article at Fox News.

10/6/2016 – 401(k) Plan Shortcomings Failing As Retirement Income Program

The current “retirement plan” of choice – 401(k) plans – really aren’t true retirement income plans. While they can be great for accumulating savings, most 401(k) plans don’t do much to help older workers decide if they have enough money to retire, or how to convert their hard-earned savings into a retirement paycheck.

Read the full article by Center on Longevity Research Scholar Steve Vernon.