18 02, 2021

Retirement Insecurity 2021: Americans’ Views of Retirement

2021-02-18T10:24:38-08:00February 18th, 2021|Categories: Retirement|Tags: |

A new report finds that across party lines, Americans are worried about concerns about their financial security in retirement. The vast majority of Democrats (70 percent), Independents (70 percent) and Republicans (62 percent) agree that the nation faces a retirement crisis. There also is bi-partisan agreement that the average worker cannot save enough on their own to guarantee a secure retirement, along with broad support for Social Security and pensions. This new national survey of working-age Americans also reveals [...]

28 02, 2019

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

2019-02-28T16:14:55-08:00February 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 [...]

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 [...]

5 07, 2018

The next bear market in stocks will spark a retirement crisis

2018-07-05T12:10:18-07:00July 5th, 2018|Categories: Retirement|Tags: , |

A recession could decimate even substantial retirement portfolios, and Social Security and Medicare are facing shortfalls Almost lost amid the torrent of recent news was a sobering item that will surely have far-reaching consequences. The U.S. government announced that for the first time since 1982, it is tapping into Social Security trust funds (https://www.wsj.com/articles/the-social-security-trust-fund-goes-bust-1528411768) to pay current benefits to recipients and it is dipping into Medicare's reserves to cover the costs of that program. The trustees also projected that [...]

8 09, 2017

Are 401(k)s Contributing to the ‘Retirement Crisis’?

2017-09-08T18:01:59-07:00September 8th, 2017|Categories: 401(k)|Tags: |

We’ve been at this for almost 3 years — the DOL Fiduciary Rule. The Rule’s intent was to increase transparency in fees paid by consumers, decrease conflicts of interest caused by variable compensation and to put all investment advice under a uniform standard of care. Sadly, the department places the most cumbersome and difficult requirements on IRAs and independent investment and insurance advisors. […]

28 02, 2017

Democrats And Republicans Deeply Worried About Economic Security In Retirement, Agree America Faces Retirement Crisis

2017-02-28T18:33:18-08:00February 28th, 2017|Categories: Retirement|Tags: |

America faces deep political divide, but not when it comes to economic security in retirement. A new report finds that 76 percent of Americans are concerned about their ability to achieve a secure retirement, with that level of worry at 78 percent for Democrats and 76 percent for Republicans. Some 88 percent of Americans agree that the nation faces a retirement crisis, and the concern is high across party lines. […]

11 07, 2016

America isn’t saving enough for retirement. Can that be fixed before it’s too late?

2016-07-11T20:22:28-07:00July 11th, 2016|Categories: Retirement|Tags: |

The race is on to save Americans’ golden years. The aging of baby boomers, the looming funding crisis for Social Security and the meager size of many workers’ nest eggs — if they have one at all — have spurred candidates, lawmakers and experts to propose ways to boost retirement savings. Politicians even are talking about making changes to Social Security, long known as the third rail of politics because touching it was thought to be a career-killer. The looming financial [...]

8 01, 2016

Conservatives are still trying to prove there’s no retirement crisis — but workers may know better

2016-01-08T21:47:49-08:00January 8th, 2016|Categories: Retirement|Tags: |

One persistent feature of the conservative attack on Social Security, and especially on the emerging campaign to increase benefits, is the notion that the typical American will do just fine in retirement just as it is. Andrew G. Biggs of the pro-business American Enterprise Institute has been especially vocal on the topic in recent weeks, with articles in the Wall Street Journal, Washington Post and Forbes appearing all since just before Christmas. The pieces overlap in their treatment of the theme, which is succinctly defined [...]

27 04, 2015

Why the retirement savings crisis is also a women’s crisis

2015-04-27T17:42:05-07:00April 27th, 2015|Categories: Retirement|Tags: , |

Here is what we know: The retirement savings crisis is enormous. By some estimates, Americans are under-saved by up to $14 trillion. This number may in fact be understated, because it assumes Social Security and Medicare solvency – a big if. And the solutions to this problem are generally assumed to be a real negative for the economy. But here’s the dot that few have connected: The retirement savings crisis is also a women’s crisis. […]

10 04, 2015

The Retirement Crisis: Why 68% Of Americans Aren’t Saving In An Employer-Sponsored Plan

2015-04-10T17:23:51-07:00April 10th, 2015|Categories: Retirement|Tags: , |

Few Americans are saving for retirement, suggesting many workers may face a retirement with a lower standard of living, according to a recent study released by the Schwartz Center for Economic Policy analysis at the New School. Since Social Security cannot fully replace income in retirement, other savings is needed, and that usually comes in the form of funds accumulated in employer-sponsored retirement plans such as 401(k)s. However, in 2011, almost half of working Americans were not offered a retirement account [...]

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