Old, broke, and financially unprepared for retirement: Many older Americans are simply unprepared for the costs associated with retirement.
America is graying out. The massive cohort of baby boomers are now entering retirement age at a rate of close to 10,000 per day, or roughly 300,000 per month. Many are fully unprepared for the challenges associated with retiring and living a life where work income becomes a smaller source of support. The workforce during […]
The impending retirement crisis: Pushing the financial constraints of an economy where many will rely on Social Security for the bulk of their income on the backs of a growing young low wage workforce.
There is a looming retirement crisis on the horizon. Most Americans are ill prepared for a long-term retirement. Back in the early 1980s, over 60 percent of American workers had access to some sort of pension plan. Today, that number is less than 10 percent. Planning for the future is challenging because it takes discipline, […]
The comprehensive guide on why you will never retire living the way you do: Examining the typical $50,000 household budget and why most Americans have nothing to very little saved for retirement.
We are facing an impending retirement crisis of epic proportions. The math is tough to look at. We have a growing population of aging baby boomers hitting retirement age with weak investment portfolios. Many will face increased healthcare costs since most of healthcare spending tends to hit in old age. Many older Americans are finding […]
How many Americans live paycheck to paycheck? A nation living precariously close to the financial edge.
The fuel that drives our economy is spending. There are few nations that rival our ability to spend. We spend with the gusto of a shop-a-holic. The assumption is that we simply have the money lying around to spend at this level. That is simply not the case since most Americans are flat broke by […]
Sticking it to Millennials and young Americans when it comes to wealth: Households headed by those 40 years old or younger see inflation adjusted wealth 30 percent below 2007 levels while older Americans recoup losses.
The evidence continues to mount on the deep pangs of financial pain faced by younger Americans before and after the Great Recession. The Federal Reserve Bank of St. Louis posted wealth information and what we find is that for those 40 years old and younger, there has been little recovery since the recession ended officially […]
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 […]