The looming retirement train wreck: Pension issues, lack of retirement savings, and extending the date of retirement all part of the current economic future.
The concept of retirement is a fairly modern one. In fact, we can argue that only one generation actually got to enjoy a long and relatively healthy stay in retirement over a mass population. For most of history, life and work went hand and hand and people retired essentially when they keeled over. The only […]
The new American retirement nightmare: Many Americans find they are completely unprepared for retirement.
Starting in late 2010, we reached a threshold where baby boomers were reaching the age of 65 at a rate of 10,000 per day. This will last into 2030. What was once thought of as a retirement age is no longer the case. The body has not evolved to adapt to financial circumstances but people […]
New model of retirement, aka working forever. Americans woefully underprepared to face retirement and half of households have zero retirement plan.
Most Americans are incredibly unprepared when it comes to retirement. The goal posts keep shifting. Now for full retirement under Social Security people will need to retire at 67 versus 65. What is rarely discussed is that rising Medicare premiums are being taken out of monthly payments so the amount being received is already shrinking […]
New Retirement Model of Working into Old Age – Baby Boomers hitting retirement age with little to no savings.
The fiscal issues facing the country are troubling for a variety of reasons but one big reason is the reality that many older Americans simply do not have enough money to retire. The idea of entering your golden years without the need of working is a relatively modern one. In fact, it was the generation […]
The modern day Gilded Age – in 2010 top one percent captured over half of all income gains. From early 2009 the S&P 500 is up 109 percent but home prices are at new lows falling almost 34 percent.
Most Americans derive their net worth from the equity built up in their homes. This has been the case for many decades. As the stock market races upwards to stratospheric highs it is hard for many average Americans to understand why it is that economically they are stuck in the same place. New tax data […]
Welcome to the new model of retirement. No retirement. In 1983 over 60 percent of American workers had some kind of defined-benefit plan. Today less than 20 percent have access to a plan and the majority of retired Americans largely rely on Social Security as their de facto retirement plan.
As many Americans enter into retirement they are realizing one unfortunate thing. The new retirement plan is no retirement at all. Over the last few decades Americans were promised the idea of a comfortable retirement yet none of this has materialized because of financial swindling and a real estate bubble that will go down in […]
The Retirement fantasy – middle class Americans are quickly realizing that a secure retirement future may only be a myth. Stagnant income, debt illusion, and the future outlook for working Americans.
Americans are having a tougher time finding extra disposable income to save and create wealth. It is hard to plan for the future when you are worrying about having enough money to purchase a couple of frozen meals. When looking at overall statistics we rarely get a glimpse at how tough things have become for […]