Workers are living longer and electing to work longer, so retirement as a concept is becoming outdated for many. Employers must encourage us to remain engaged & offer flexible work options, explains Wharton Prof. Olivia S. Mitchell to John D. Stoll at the Wall Street Journal.…Read More
Financial literacy helps people make better spending/retirement decisions and can help them save, find Profs. Annamaria Lusardi of GWSB and Olivia S. Mitchell of Wharton. New educational apps and games can also boost financial literacy & understanding, says Glenn Gillis at Independent Online. …Read More
The new SECURE Act includes retirement plan enhancements: Prof. Olivia S. Mitchell talks with David Brancaccio at Marketplace Morning Report how annuities will boost retirement wellbeing.…Read More
The new SECURE Act will boost retirement security, including raising the required minimum distribution age to 72 and encouraging 401(k) plans to include deferred annuities as payout options, explains Wharton Prof. Olivia S. Mitchell to Erin Arvedlund of the Philadelphia Inquirer.…Read More
Congress finally passed the long-awaited SECURE Act: deferred lifetime income annuities can now be included in 401(k) plans to enhance improve retirement security, explains Prof. Olivia S. Mitchell of Wharton to Elizabeth O’Brien at Money.…Read More
Borrowing against your retirement savings can be tempting but counterproductive in a recession, says Nick Strain at MarketWatch, citing “Borrowing from the Future: 401(k) Plan Loans and Loan Defaults,” the Pension Research Council study by Timothy Jun Lu, Olivia S. Mitchell, Stephen P. Utkus and Jean A. Young.…Read More
Millennials should save 40% of paychecks to retire at 65, says Olivia S. Mitchell of Wharton, but only 1 in 5 save more than 15%. Read more here.
“Work longer, save more, and expect less!” Facing lower expected returns, Millennials must save more of their paychecks for retirement than did their parents and grandparents, states Wharton’s Olivia S. Mitchell to ConsumerAffairs. Read here.
To retire at age 65, Millennials must save nearly half their paychecks. Even if that’s impossible, there are still steps you can take to improve your retirement security, Wharton’s Olivia S. Mitchell explains to Megan Leonhardt of CNBC Make It. Read it here.
Economic hardship 401(k) withdrawals to get easier from January 2020, which Wharton’s Olivia S. Mitchell thinks will boost popularity of 401(k) withdrawals over loans and help people avoid penalties from defaulting on those loans. Read here.
