Over the last generation there has been a shift from pensions to do it yourself 401k plans. The idea was pitched during a time when the stock market was in a bull run and Wall Street was excited to open up additional streams of revenue. But now a generation later, the results are rather clear. […]
Unsocial Insecurity: Social Security Fund loses money for the first time since 1983. The new retirement model will have you working until you fall over from a heart attack.
Social Security was never designed as a long-term pension. It was implemented in 1935 during the Great Depression to assist families from falling into absolute poverty. The large work force dominated by men usually meant that many would die and leave a large family behind with no financial resources. Social Security was there to protect […]
100 American CEOs have more retirement wealth than 116 million Americans. The retirement divide grows larger each year.
Most Americans have no retirement strategy. In fact, the new model of retirement appears to be work until you die. It isn’t an uncommon model. In fact, this used to be the status quo for centuries on end. Some tend to believe that having a middle class is the natural order of things. That is […]
Get used to the idea that you will never retire: GAO report shows that half of Americans 55 and older have no retirement savings at all.
Some of you might remember the glossy highly produced advertisements back in the early 1980s when Wall Street decided it was time to turn American retirement plans into casinos. The slow and agonizing death of the pension plan was supposed to be replaced by the beautiful and wonderful world of the 401(k) plan. Save for […]
The oncoming disaster in public pensions: The $4 trillion retirement savings deficit and the bill of payouts for pensioners.
Americans have done a very poor job saving for retirement. In many cases, families simply have very little left over each month to save after monthly expenses chomp away at their net take home pay. Pensions used to be common. In 1975 you had 88 percent of private sector workers and 98 percent of state […]
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 […]
What are the top 10 financial worries of Americans? Two of the most common themes include paying for children’s college and saving enough for retirement.
Financial worries are a big concern for many American families. In spite of a booming stock market and a resurgent real estate market, most Americans don’t seem to be feeling financially better. A large reason is that many Americans did not partake in the rise in the investor driven real estate boom and also, many […]