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.
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 […]
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.
“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 […]
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.
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.
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 […]
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 […]
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 […]
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 […]
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