When is the next big crash? Will you be ready?
One of the major lessons learned from the 2008 debacle is that people who remained in the market and avoided panicking came out of things just fine.
Read the full article at MarketWatch.
The more money you make before retirement, the more you may have to cut back when you do retire, a new study has found.
Read the full article at Los Angeles Times.
If college debt is a hindrance to young adults, mortgage debt is the drag on homeowners heading into retirement.
A much higher proportion of homeowners over 65 are carrying mortgage debt compared with past generations. And that debt could make it harder for them to stay in their homes.
Read the full article at The New York Times.
Despite modest gains in the economy in 2012, national poverty rates remain virtually unchanged from last year. However, a new study highlights one group that has unexpectedly fallen deeper into poverty: elderly women.
Read the full article at CNBC.
Life without mandatory retirement is hard. Compensation and health-care costs tend to increase with age, and in many – albeit not all – cases productivity declines. Employers can dismiss older workers who cannot do their jobs. But that is a very unpleasant task for both parties. The elimination of mandatory retirement combined with the shift from defined-benefit pensions to 401(k) plans also means that retirement is a much less predictable and orderly event than it has been in the past.
Read the full article at MarketWatch.
With only 38% of couples planning together, as a 2013 study from Hearts & Wallets found, it’s no surprise that nearly two-thirds don’t agree on when they’ll each leave their jobs, and a third aren’t in sync on where they’ll live.
Read the full article at CNN.
The Senate Special Aging Committee looks at the wave of retiring baby boomers that is just beginning in the U.S., and how the recent recession coupled with increased reliance on 401(k) or other market-based retirement funds has changed retirement plans for many Americans.
Read the full article at C-SPAN.
A disturbing new analysis from the Economic Policy Institute (EPI) pulls together data that “paint a picture of increasingly inadequate savings and retirement income for successive cohorts and growing disparities by income, race, ethnicity, education and marital status.” It’s one of several recent studies revealing a difficult financial future for tomorrows ethnic retirees and today’s grandparents.
Read the full article at New American Media.
For those who can’t expect hand-me-down wealth, there’s another retirement strategy, one that’s mentioned more and more these days: working longer. “Most people just don’t have the financial resources to stop working full-time in their 60s,” says actuary and consultant Steve Vernon, a research scholar at the Stanford Center on Longevity.
Read the full article at Bloomberg.
Not unlike the ageing public – central banks will have to work harder as their economies grey and greater interest rate volatility over time may well be the outcome.
Read the full article at Reuters.