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 […]
Why millions of Americans will never retire: How the prospect of retirement went from a realistic goal to an outrageous dream for most American families.
Retirement was presented to many Americans as some kind of middle class rite of passage. It was odd to see so many fall under the spell of easy riches and generous retirement math presented to the public from the Wall Street financing machine. Many saw retirement as a distant object so far into the future […]
Pension disaster looms over the horizon: In 1980 60 percent of Americas participated in a pension program. Today it is less than 10 percent and the amount saved for retirement is startling.
Americans are on the verge of a retirement disaster. As pension plans slowly go extinct Americans are not saving enough for retirement. The figures point to a looming pension and retirement disaster. Retirement for most Americans is largely a mirage. As organizations switched from pensions to 401ks it was expected that most Americans would save […]
What does it mean to be retired in the United States? The age of disappearing pensions, dependence on Social Security, and stock market speculation.
A few days ago the stock market experienced a mini panic as someone hacked a reputable news source Twitter account and posted a sensational headline. The markets quickly reacted to this news. What was troubling is many algorithm-based trading systems are setup to scour internet information for these kinds of dramatic changes. Many of the […]
The un-American savings rate: Americans savings rate heads to a record low. Americans saving about 2 percent per year and the near extinct pension.
For a brief period during the height of the recession, Americans resorted to saving more money as credit markets around the world tightened up. As data is now showing, this turned out to be a very brief anomaly in the market. Americans are back to not saving money. The debt markets are creeping back in […]
The coming pension crisis: States face a $3 trillion funding gap. Only about 10 percent of Americans now covered by pensions.
Many Americans look at the crisis in Greece and shake their heads wondering how it is possible for an entire country to derail the future of its younger generation. One big problem in Greece was massive government liabilities funding very generous pensions. Yet this came at an enormous cost. The US is facing a different […]
Saying goodbye to the middle class concept of retirement – many workers plan to work up until they are 80 well beyond the typical life expectancy of Americans. How long will $25,000 last in retirement?
The romantic concept of being able to retire on a sunny beach with endless drinks is a modern notion largely pushed by mainstream advertising. It is hard for many middle class Americans to imagine a world where retirement is a luxury for the very few. However that is the path we are now following. The […]