Millennials are worse off than their parents: Millennials earn 20% less than baby boomers at same stage in life.
It is now official that Millennials are worse off than their parents. The Federal Reserve released a study showing that Millennials are as broke as we suspected. According to the figures released Millennials earn 20% less than baby boomers did at the same stage in life. This is a major reason why so many Millennials […]
The retirement gamble: 30 percent of American adults have no retirement savings. Half of Americans live paycheck to paycheck.
Retirement angst is a big deal. It probably feels like a bigger deal since older baby boomers are now entering into retirement age in wildebeest like droves. A time that was supposed to be spent sipping ice cold margaritas on the warm beaches of the world is now filled with working retail jobs or trying […]
The increasing odds that you will die working: The extinction of retirement and the growing old age labor force.
I was greeted by an older gentleman at a local Target store. He slowly smiled and said hello. I nodded and said hello as he proceeded to greet other shoppers. Leaving the store I was greeted by an older cashier. Over the last decade, the retail labor force is seeing a growing number of older […]
The looming retirement crisis: 10,000 baby boomers a day turn 65 and most are inadequately prepared for retirement. Half of elderly Americans in poverty without Social Security.
There is a very common number that is thrown out regarding baby boomers and retirement. We consistently hear that every day 10,000 baby boomers hit the typical retirement age of 65. This trend is expected to go out until 2030. What is troubling with this narrative is the assumption that most have enough funds to […]
A day of reckoning has arrived to retiring Americans: 63 percent of Americans that start working by the age of 25 will be dependent on Social Security, relatives, or charity by the time they hit 65.
The notion of retirement is a fairly new one outside of wealthy circles. For most of civilized history, people worked until they died. Not a glamorous way to go but that is simply the course of human history. Only until recently with the emergence of the middle class was there a general semblance that retirement […]
New definition of retirement = work until you die: Half of Americans have little to no savings for what will likely be a long and drawn out retirement.
The ideal vision of retirement is one of constant leisure supported by a sizable nest egg. Building a nest egg takes decades of discipline and careful planning. Unfortunately, many Americans did not adequately prepare and combined with the casino like financial system, many have been washed out of the system. Many retiring baby boomers are […]
A demographic time bomb: Over the next decade 20 percent of the US population will be 65 years of age or older.
It is no secret that the United States like many developed nations is facing a demographic shift of epic proportions. Within the next decade 20 percent of the US population will be 65 years of age or older. This will place severe constraints on young workers, Social Security, and Medicare. Roughly 300,000 Americans per month […]