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 […]
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 […]
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 […]
A demographic tsunami looms: By 2020 we will have 20 percent of our population 65 and older. Half of elderly Americans would be in financial ruin if it weren’t for Social Security.
Kicking the can down the road has a nice appeal. It is the same allure that comes from procrastinating. Putting off the dirty work for another day. This seems to be the approach we have taken for deficit spending. So it is no surprise that older Americans have followed in the same footsteps and many […]
Only 4 out of 10 Americans has enough in their savings to pay for an unexpected expense: Half of the country is living paycheck to paycheck with no retirement plans.
There is little motivation to save when your local bank is offering close to zero percent on your savings account. And most Americans simply do not invest in the stock market. When it comes to saving money it is crucial to get into the habit of putting funds away for unforeseen events and expenses. Life […]
Standard American Retirement plan equates to flying by the seat of your pants: The majority of older Americans rely on Social Security as primary source of retirement income.
Social Security keeps half of elderly Americans out of poverty. You need to recall that many older Americans came of age during the 401k cult worship of Wall Street. Greed is good as portrayed in the movie Wall Street. Stories developed as a sign of caution actually drove many to aspire to become financial mavens […]
Social Security helps keep half of elderly Americans from poverty: Social Security has become the de facto retirement plan for millions of Americans.
Social Security was never designed as a long-term retirement plan for millions of Americans. Yet Social Security has become the default retirement plan for many elderly Americans. In fact, if it were not for Social Security roughly 44 percent of elderly Americans would be in poverty. This is calculated by how many Americans receive Social […]