Older Americans are accumulating more debt as they approach retirement than prior generations, reports Wharton Prof. Olivia S. Mitchell to Dan Loney of Wharton Business Daily. Read the paper here.…Read More
Workplace-sponsored financial education programs, as well as programs targeted to the specific circumstances of Black and Hispanic women, would boost financial literacy far more than a one-size-fits-all approach, explains Wharton Prof. Olivia S. Mitchell to Julie Stich of IFEBP. Paper here: Financial Well-being among Black and Hispanic Women…Read More
Financially literate older Americans are less likely to carry excessive debt, as per Wharton Prof. Olivia S. Mitchell, Prof. Annamaria Lusardi of the George Washington University, and Noemi Oggero of the University of Turin, in a report spotlighted by NBER.…Read More
Early 401(k) withdrawals can drastically reduce retirement assets; if need be, borrowing from a retirement account can be a safer option, explains Wharton Prof. Olivia S. Mitchell. Via Knowledge@Wharton.…Read More
Holding stock in your employer’s company can be riskier than investing in a well-diversified, tax-qualified retirement account, explains Wharton Prof. Olivia S. Mitchell, via Pensions & Investments. …Read More
Wharton Prof. Olivia S. Mitchell will discuss her recent book, ‘Remaking Retirement: Debt in an Aging Economy’ at the European Banking Federation’s 2021 European Money Week, Tuesday 23 March at 16:00 CET/11 AM EDT, ‘Financial Security at an Older Age: What Do We Need to Prepare For?’ Full event schedule and to register: https://www.ebf.eu/ebf-events/…Read More
Financial literacy is even more important in times of economic uncertainty. This quiz, written by Prof. Annamaria Lusardi of GWU and based on work with Profs. Olivia S. Mitchell of Wharton and Robert Clark of NC State Poole College of Management, can help you test your financial savvy. Via CNBC.…Read More
Poor financial capability can erode later life well-being. Use auto-pay for bills, keep track of spending, and take the time to improve financial literacy, advises Wharton Prof. Olivia S. Mitchell, via TheStreet.com.…Read More
‘Do Required Minimum Distribution 401(k) Rules Matter, and For Whom? Insights from a Lifecycle Model:’ Wharton Prof. Olivia S. Mitchell notes that raising the RMD age would have little effect on most people, but would help wealthier retirees leave a legacy, via MarketWatch. Full paper here.…Read More
COVID is eroding the Social Security and Medicare trust funds, already facing looming insolvency. Not much time left to fix the system, cautions Wharton Prof. Olivia S. Mitchell. Via the Philadelphia Inquirer. See also Andrew Biggs’s examination of the social security benefits loophole, “How the Coronavirus Could Permanently Cut Near-Retirees’ Social Security Benefits.”…Read More
