The Retirement Crisis
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Falling Short
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Author : Charles D. Ellis
language : en
Publisher: Oxford University Press
Release Date : 2014-12-01
Falling Short written by Charles D. Ellis and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-01 with Business & Economics categories.
The United States faces a serious retirement challenge. Many of today's workers will lack the resources to retire at traditional ages and maintain their standard of living in retirement. Solving the problem is a major challenge in today's environment in which risk and responsibility have shifted from government and employers to individuals. For this reason, Charles D. Ellis, Alicia H. Munnell, and Andrew D. Eschtruth have written this concise guide for anyone concerned about their own - and the nation's - retirement security. Falling Short is grounded in sound research yet written in a highly accessible style. The authors provide a vivid picture of the retirement crisis in America. They offer the necessary context for understanding the nature and size of the retirement income shortfall, which is caused by both increasing income needs-due to longer lifespans and rising health costs-and decreasing support from Social Security and employer-sponsored pension plans. The solutions are to work longer and save more by building on the existing retirement system. To work longer, individuals should plan to stay in the labor force until age 70 if possible. To save more, policymakers should shore up Social Security's long-term finances; make all 401(k) plans fully automatic, with workers allowed to opt out; and ensure that everyone has access to a retirement savings plan. Individuals should also recognize that their house is a source of saving, which they can tap in retirement through downsizing or a reverse mortgage.
Social Insecurity
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Author : James W. Russell
language : en
Publisher: Beacon Press
Release Date : 2015-04-07
Social Insecurity written by James W. Russell and has been published by Beacon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-07 with Business & Economics categories.
How 401(k)s have gutted retirement security, from charging exorbitant hidden fees to failing to replace the income of traditional pensions Named one of PW's Top 10 for Business & Economics A retirement crisis is looming. In 2008, as the 401(k) fallout rippled across the country, horrified holders watched 25 percent of their funds evaporate overnight. Average 401(k) balances for those approaching retirement are too small to generate more than $4,000 in annual retirement income, and experts predict that nearly half of middle-class workers will be poor or near poor in retirement. But long before the recession, signs were mounting that few people would ever be able to accumulate enough wealth on their own to ensure financial security later in life. This hasn’t always been the case. Each generation of workers since the nineteenth century has had more retirement security than the previous generation. That is, until 1981, when shaky 401(k) plans began replacing traditional pensions. For the last thirty years, we’ve been advised that the best way to build one’s nest egg is to heavily invest in 401(k)-type programs, even though such plans were originally designed to be a supplement to rather than the basis for retirement. This financial experiment, promoted by neoliberals and aggressively peddled by Wall Street, has now come full circle, with tens of millions of Americans discovering that they would have been better off under traditional pension plans long since replaced. As James W. Russell explains, this do-it-yourself retirement system—in which individuals with modest incomes are expected to invest large sums of capital in order to reap the same rewards as high-end money managers—isn’t working. Social Insecurity tells the story of a massive and international retirement robbery—a substantial transfer of wealth from everyday workers to Wall Street financiers via tremendously costly hidden fees. Russell traces what amounts to a perfect swindle, from its ideological origins at Milton Friedman’s infamous Chicago School to its implementation in Chile under Pinochet’s dictatorship and its adoption in America through Reaganomics. Enraging yet hopeful, Russell offers concrete ideas on how individuals and society can arrest this downward spiral.
Falling Short
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Author : Charles D. Ellis
language : en
Publisher:
Release Date : 2014
Falling Short written by Charles D. Ellis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Pensions categories.
The United States faces a serious retirement challenge. Many of today's workers will lack the resources to retire at traditional ages and maintain their pre-retirement standard of living. This book provides both a vivid picture of the retirement risks facing all Americans and a short list of practical solutions that build on our existing retirement system. The book offers the necessary context for understanding the nature of the retirement income shortfall.
The Retirement Crisis
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Author : Brett Goldstein
language : en
Publisher: Im Press, Incorporated
Release Date : 2011-09
The Retirement Crisis written by Brett Goldstein and has been published by Im Press, Incorporated this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09 with Finance, Personal categories.
For many, their retirement savings were obliterated by Wall Street's staggering decline combined with corporate greed, mismanaged retirement plans, and a broken retirement system. This perfect storm has left the next generation of retirees poised for financial chaos. Instead of living out one's golden years relaxing by the pool or traveling the globe, many will find retirement unattainable. For a growing number of Americans it will leave them living at or below the poverty line, barely able to afford basic living essentials. For this ever increasing number of Americans a retirement crisis doesn't just loom on the horizon, it has arrived, and brought with it disastrous implications. It begs the burning question of who wants to work their whole lives only to retire into poverty? Better still, it behooves us to understand how this happened and what we may still be able to do in order to resurrect our retirement plans.
Is There A Retirement Crisis An Exploration Of The Current Debate
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Author : George A. (Sandy) Mackenzie
language : en
Publisher: CFA Institute Research Foundation
Release Date : 2020-07-03
Is There A Retirement Crisis An Exploration Of The Current Debate written by George A. (Sandy) Mackenzie and has been published by CFA Institute Research Foundation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-07-03 with Business & Economics categories.
Many quantitative empirical studies of retirement preparedness find that a substantial number of US households face a potential financial crisis at some point in the future. This monograph provides a critical survey of the most important and best-known of these studies, and it also examines the prospects for other countries. Studies of retirement preparedness vary in complexity and sophistication, and as a result, researchers offer a wide range of forecasts, with some warning of a severe crisis and others being more skeptical about the likely scale of the problem. This monograph appraises the quality of surveyed studies by determining how well each deals with key conceptual issues and how adequately each addresses principal risks. Going beyond the circumstances in the United States, the monograph also provides international perspective by comparing the “macro” and institutional aspects of pension and health systems in a group of eight industrialized countries, including the United States.
The Silent Retirement Crisis
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Author : Cindy Couyoumjian
language : en
Publisher: Greenleaf Book Group
Release Date : 2023-10-31
The Silent Retirement Crisis written by Cindy Couyoumjian and has been published by Greenleaf Book Group this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-10-31 with Business & Economics categories.
Retirement does not have to be stressful and scary. With proper planning, Americans can not only retire comfortably: They can also prosper. Cindy Couyoumjian’s third book explores the silent retirement crisis that will impact millions of Americans. She uses the term silent to convey the idea that the majority of those who are about to retire, or are in retirement, share a common and unspoken fear—running out of money. Couyoumjian asserts that the anxiety people have about their retirement is not a misdirected emotion. We are led to believe that the fear (silent as it is) is due to our lack of financial literacy or not having a financial plan in place. While some of this is true, it’s not totally our fault: Her book addresses the big-picture, systemic problems that conspire against average Americans while favoring the wealthy few. The first third of the book explores how broken capitalism has contributed to our broken retirement system. The second third offers us a new way of thinking and investing, underscoring how university endowments have achieved extraordinary return by using a multi-asset class investment approach. Part III offers meaningful solutions to the retirement crisis. The author introduces us to her flexible and customizable REALM model designed to potentially protect clients from sudden market losses. Also included is other valuable information such as estate planning, tax strategies, 401(k) rollover options, life insurance, and long-term care initiatives. Couyoumjian shows us that retirement planning isn’t just savings and investing. With an umbrella of other planning items, we can take action to make the difference between an anxious retirement defined by uncertainty and a comfortable one, grounded in prosperity. Founder of Cinergy Financial, Cindy Couyoumjian believes financial literacy is a moral imperative and has dedicated her professional life to helping people understand the constantly evolving financial and economic landscape. With 37 years of industry experience, she is a leader in the financial industry, managing over $200,000,000 in assets. She is the author of two previous best-selling books, Redefining Financial Literacy, (2021) and The Rise of Women and Wealth (2022). She has appeared on NBC, CBS, FOX 40, talk radio AM870 and 790 KABC, and was a brand contributor to Forbes in 2020. Her dedication and commitment to empower with facts, not fear, are unwavering as she continues to educate and guide her clients toward their individualized financial goals and objectives.
Global Pension Crisis
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Author : Richard A. Marin
language : en
Publisher: John Wiley & Sons
Release Date : 2013-10-14
Global Pension Crisis written by Richard A. Marin and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-14 with Business & Economics categories.
A comprehensive look at the crisis of unfunded pension liabilities and what must be done to avoid the same problem in the future As the generational bubble of the Baby Boomers begins to retire, it is increasingly evident that governments, corporations, and individuals have failed to adequately prepare for the obligations and needs of this giant cohort. Retirees are outliving actuarial life expectancies, pension liabilities are skyrocketing, pension plans are underfunded, and medical costs rise, the United States alone can expect unfunded liabilities to exceed $4 trillion. Even while the American economy shows signs of sustained recovery, states and local governments will still experience sharp increases in pension fund payments through the next year or longer. Global Pension Crisis looks at this situation and offers practical advice for retirement plan managers and financial advisors, while also explaining how to strengthen pensions and prevent similar crises in the future. Offers a clear and comprehensive explanation of the current pension crisis for retirement fund managers, financial advisors, and economists Includes prescriptive guidance on how to strengthen the pension fund system and prevent another similar crisis Written by venture capitalist, entrepreneur, and former senior Wall Street executive Rich Marin
But What If I Live The American Retirement Crisis
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Author : Gregory Brandon Salsbury
language : en
Publisher:
Release Date : 2006
But What If I Live The American Retirement Crisis written by Gregory Brandon Salsbury and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Baby-boom generation categories.
This book is dramatic wake-up call for a generation of overspent and under-saved Americans who face the very real possibility of outliving their money. Yesterdays retirees were supported by guaranteed income sources. Today, baby boomers are looking at a very different picture, one where they are increasingly responsible for generating their retirement income from personal savings while facing a longer life expectancy and astounding leaps in expenses. Key Selling Points: explores the seven key challenges that stand between baby boomers and a successful retirement; helps baby boomers recognize and address the key challenges to retirement; guides baby boomers to better plan for the income they will need so they can achieve the retirement they deserve.
No Room For Less
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Author : Nilanjan Dey
language : en
Publisher: Notion Press
Release Date : 2022-08-13
No Room For Less written by Nilanjan Dey and has been published by Notion Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-08-13 with Business & Economics categories.
A severe retirement crisis is imminent in India. Its impact on socioeconomic systems will upend the lives of ordinary people. This book analyses the current legislative framework, ongoing reforms, saving and investment patterns, and financial products that are aimed at the rapidly burgeoning retirement market. In a world divided between the pension haves and the pension have-nots, the relative absence of retirement literacy remains a giant concern, a gap the book aims to address. For both policymakers and individual savers, The Great Indian Retirement Crisis makes a compelling story.
Is There A Retirement Crisis An Exploration Of The Current Debate
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Author : George A. (Sandy) Mackenzie
language : en
Publisher:
Release Date : 2020
Is There A Retirement Crisis An Exploration Of The Current Debate written by George A. (Sandy) Mackenzie and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.