Associated Press-NORC Center for Public Affairs Research survey details the changing nature of work and aging in America and its implications for individuals and the economy; results include older Americans views on future of Social Security.
Read the full article at NORC at the University of Chicago.
There are few entirely conflict-free places where investors can educate themselves on the topic, and there’s little to no money-related guidance offered within the public school system, which is where the financial groundwork should really be laid.
Joshua Rauh, a finance professor at the Stanford Graduate School of Business, is acutely aware of that. And it’s why he felt compelled to open his graduate-level course on the finance of retirement and pensions to the masses. “My goal is to try to empower people to make better decisions about their finances with an eye toward retirement and for retirees who are thinking about managing their money,” Professor Rauh said, “whether it is buying an annuity or having a spending rule.”
Read the full article at The New York Times.
You know about America’s retirement savings woes, but you might not be aware that the nation may be facing another, more personal disaster. Call it The Married Couples’ Retirement Crisis.
Read the full article at Forbes.
Retirees and those saving for retirement may be worried about their investments, taxes and retirement plans as the federal government shutdown drags on, and lawmakers argue about extending the debt ceiling. But retirement advisers say you should take a deep breath and hold on.
Read the full article at MarketWatch.
Given how many Baby Boomers are entering retirement with little to no savings, the Golden Years have become the Frugal Years for an entire generation of retirees.
Read the full article at USA Today.
Coming soon: means testing, mandatory savings, longevity insurance.
The nation’s retirement system consists of a patchwork of programs that include Social Security, 401(k) plans, IRAs, Keoghs, traditional pensions and federal thrift savings. Each of these has served a specific need or group. But in many cases, these programs have evolved into something they were never intended to be.
Read the full article at Time.
The U.S. ranks No. 11 and gets a “C” letter grade in a ranking of 20 pension systems in the 2013 Melbourne Mercer Global Pension Index. The report took a macro look at where retirees come out in terms of a living pension including retirement income from government plans, employer plans and individual savings. The sustainability and integrity of the pension systems came into play too. Here’s a look at the countries that ranked in the top 10.
Read the full article at Forbes.
For the past decade, the Congressional Budget Office (CBO) has projected lower 75-year deficits than the Social Security trustees. That relationship has now reversed, with CBO projecting a larger 75-year shortfall. One reason for the reversal is that CBO has switched from relying on the Social Security actuaries’ mortality assumptions and have come up with their own. The question is whether this is an earth-shattering development or another data point.
Read the full article at MarketWatch.
Most 401(k) participants plans are on their own when it comes to deciding how to turn their retirement savings into reliable, lifetime income. The reason? Most employers pay retiring employees a lump sum from the 401(k) plan and don’t provide any help with the critical task of generating retirement income from that savings.
Read the full article by Center on Longevity Research Scholar Steve Vernon at CBS MoneyWatch.
Switching directly from a full-time job that consumes most of your waking hours to retirement can be a very abrupt change. More than a third of working Americans say they would like to semi-retire, or cut back their hours, before retiring completely, according to a recent HSBC and Cicero Group survey. Workers have both personal and financial reasons for preferring to gradually transition into their retirement years.
Read the full article at U.S. News and World Report.