The trend is the same, but it seems the numbers are getting worse. Seventy-one percent of Americans say they do not have enough retirement savings, according to a new national survey. Especially worrisome: More than half of those surveyed, 54 percent, believe they will never pay off their debt fully.
Read the full article at The Washington Post.
Recent studies conducted by the Stanford Center on Longevity (SCL) and the Society of Actuaries (SOA) show how employer-sponsored 401(k) plans and their advisers and administrators can use their resources to construct a menu of diversified retirement income options.One important conclusion from the SCL/SOA studies is that 401(k) plan sponsors have the potential to increase their participants’ retirement incomes by 5 percent to 20 percent by offering retirement income programs with institutional pricing instead of the standard retail pricing individuals might have to pay on their own.
Read the full article by Center on Longevity Research Scholar Steve Vernon at CBS MoneyWatch.
“Half of private America is working full time and have nothing, so when they hit 65 or 70, basically all they have is Social Security, which is on average a little over a grand a month,” said Joshua Gotbaum, a guest scholar in economic studies with the Brookings Institution. Yet, a state-by-state effort to turn around that dire scenario is afoot in what promises to be “the biggest expansion of retirement security since Social Security was created,” said Gotbaum.
Read the full article at CBS MoneyWatch.
Since a young age, many of us have had the “save for retirement” message on our minds. It is virtually impossible to ignore the advice on making the most of 401(k)s and investing additional funds so that when the time arrives you have the financial wherewithal to enjoy retirement.
Read the full article at U.S. News and World Report.
An aging United States reduces the economy’s growth — big time. That’s the startling conclusion of a new academic study, and if it withstands scholarly scrutiny, it could transform our national political and economic debate.
Read the full article at The Washington Post.
Germany’s Bundesbank said raising the legal retirement age to 69 by 2060 could ease some of the pressure on the country’s state pension system as the population ages.
Read the full article at Bloomberg.
Read the full article at Forbes.
A recent Pew Research Center analysis of federal employment data lays out the numbers. In May 2000, 12.8 percent of those older than 65 held a job. By this May, the number had climbed substantially, to 18.8 percent.
Read the full article at The New York Times.
Americans are living on average 30 years longer today than a century ago. How will you spend the time?
As people contemplate their lives, they realize that taking more risks could have provided the opportunity for richer experiences, and that extra time and freedom would let them do things differently.
Read the full article at U.S. News and World Report.
Everyone knows that older Americans — especially the elderly — are the most likely to be scam victims, right? Turns out, this is a myth. In fact, according to a new report link by BBB Institute for Marketplace Trust, Millennials are more likely to be scammed than boomers.
Read the full article at Next Avenue.