27 03, 2019

Gen Z Anticipates Retiring at 56, Are You Offering Them Retirement Benefits?

2019-03-27T15:33:35-07:00March 27th, 2019|Categories: Retirement|Tags: |

Yes, you read that headline correctly, the youngest generation in the workforce is already planning on leaving it once they hit the 34-year mark. And to think, we were just worrying about attracting them into the workplace! By some estimates, the oldest Gen Zer was born in 1997, which means if all goes according to their plans, they’ll start leaving the workforce around 2053. As an older Millennial, I’m only slightly bitter about this—thanks, student loan debt—but good for [...]

27 03, 2019

More Employees Expect to Postpone Retirement Due to Financial Stress

2019-03-27T09:45:00-07:00March 27th, 2019|Categories: Retirement|Tags: |

While today’s employees feel confident in their finances, the reality of their situations is not aligned with this confidence, a new report shows. According to MetLife’s 17th annual U.S. Employee Benefit Trends Study, nearly two out of three people say they are confident in their finances, but half say they are living paycheck to paycheck, many have tapped their retirement savings, and an increasingly large group says they will have to delay their retirement because of their finances. In fact, the level of [...]

28 02, 2019

The Next Recession Will Show The Stark Reality Of The Retirement Crisis

2019-02-28T16:14:55-07:00February 28th, 2019|Categories: Retirement|Tags: , |

The country faces a growing retirement crisis. An ever larger share of the fastest growing part of the population will struggle to make ends meet in retirement. Estimates show that many have not saved enough to offset declining Social Security benefits and rising costs due to greater longevity and health care inflation, just for starters. As a result, we should see retirees increasingly face financial struggles. This hasn't happened yet because a number of favorable trends in recent years [...]

8 01, 2019

Retire at 55 and live to 80; work till you’re 65 and die at 67

2019-01-08T09:37:04-07:00January 8th, 2019|Categories: Retirement|

Imagine working as long as you possibly can, or until your maximum retirement age, to ensure you have sufficient funds for your Retirement, only to die within two years of retiring? An actuarial study conducted on some of the larger US Pension Funds including Boeing Aerospace, indicates that employees who retired at the age of 65, died within two years of retirement. Dr Ephrem (Siao Chung) Cheng provided the results from an Actuarial Study on the correlation between Retirement [...]

28 11, 2018

House proposes ambitious tax package with retirement provisions

2018-11-28T13:52:43-07:00November 28th, 2018|Categories: Retirement|Tags: , |

A legislative tax package with several retirement savings ideas promoted in both the House and Senate was introduced late Monday by House Republicans. One part of the 297-page tax package is the proposed Retirement, Savings and Other Tax Relief Act of 2018. It builds on the Family Savings Act passed by the House in September and incorporates several provisions from the Senate's proposed Retirement Enhancement and Savings Act of 2018, which has not been voted on. A House version [...]

27 11, 2018

Americans are retiring at an increasing pace

2018-11-27T14:40:22-07:00November 27th, 2018|Categories: Retirement|Tags: |

The number of Americans retiring daily has nearly doubled since the year 2000. Currently, roughly 10,000 people turn 65 each day, the standard age for retirement, according to a Deutsche Bank note published Tuesday. And according to Census forecasts, that number is set to rise. It will reach nearly 12,000 people within the next 10 years. By 2030, according to the Census Bureau, all baby boomers will be older than 65. The growth in retiring baby boomers will have [...]

9 10, 2018

Nearly 40% of Millennials Believe Retirement Saving Can Wait

2018-10-09T09:29:02-07:00October 9th, 2018|Categories: Retirement|Tags: |

When you're in your 20s, retirement can seem impossibly far away. Investing for something that's some 40 years in the future may feel a bit like taking scarce resources that you need right now, and locking them away for a time that might never come. And even it if will, there's no need to start planning for it today. Later will be fine. Of course, older people know different. They recognize (often with regret over having failed to take [...]

24 09, 2018

Retirement Is In Peril For Most Working Class Americans, Warns New Report

2018-09-24T11:16:21-07:00September 24th, 2018|Categories: Retirement|Tags: , |

Retirement is in peril for most working-class Americans cautions a new report by the National Institute on Retirement Security, a Washington think tank. “The American dream of a modest retirement after a lifetime of work now is a middle-class nightmare,” warns the study’s author, NIRS Executive Director Diane Oakley. The report contends nearly four out of five working Americans are falling short of conservative retirement savings targets. Roughly the same number have less than one year’s income saved in [...]

17 09, 2018

New Report Finds Nation’s Retirement Crisis Persists Despite Economic Recovery

2018-09-17T16:38:51-07:00September 17th, 2018|Categories: Retirement|Tags: |

A new research report finds that the retirement savings levels of working age Americans remain deeply inadequate despite economic recovery. An analysis of U.S. Census Bureau data reveals that the median retirement account balance among all working individuals is $0.00. The data also indicate that 57 percent (more than 100 million) of working age individuals do not own any retirement account assets in an employer-sponsored 401(k)-type plan, individual account or pension. The analysis finds that overall, four out of [...]

17 09, 2018

Retirement issues begin to see activity in Washington

2018-09-17T16:22:43-07:00September 17th, 2018|Categories: Retirement|Tags: |

Between a recent White House retirement directive and more legislative proposals from Capitol Hill, plan executives and other retirement security advocates are encouraged that, while it might take months or years to see concrete change, Washington is paying attention. "It's been a while since retirement was a big issue," said Jack Towarnicky, executive director of the Chicago-based Plan Sponsor Council of America, a division of the American Retirement Association. The ideas coming out of Washington include promoting open multiple employer plans to allow unrelated businesses access to professionally managed retirement accounts [...]

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