Women’s median weekly earnings rose to 83.8% of men’s in 2023, up from 82.9% the year before, moving toward closing the pay gap. Dr. Olivia S. Mitchell, Wharton School professor, proposes that women build their financial literacy through education and financial advice.…Read More
Longevity to increase substantially in coming decades! So save more and keep healthy to boost old-age security, reports Prof. David McCarthy of the University of Georgia’s Terry College of Business, via IPRA webinar.…Read More
Social Security benefit payments have exceeded revenue for more than a decade. Uncertainty over program solvency makes it difficult to plan for retirement, explains Wharton Professor Olivia S. Mitchell, via aol.com.…Read More
Longevity uncertainty, high prices, and lack of understanding decrease demand for long-term care insurance, leaving many unprepared for future long-term care costs, explains Wharton Professor Olivia S. Mitchell, via policygenius.com. …Read More
People believing they will live longer are more likely to buy annuities, so educating near-retirees about chances of surviving to older ages could help motivate annuitization, report researchers Karolos Arapakis and Gal Wettstein of the Center for Retirement Research at Boston College. …Read More
The Population Aging Research Center (PARC) of the University of Pennsylvania hosted its 2nd Aging Retreat. Presentations addressed how America’s demographic changes are shaping health care, health equity, and the wellbeing of the elderly and their caregivers. Olivia S. Mitchell, Executive Director of the Pension Research Council, presented on “Financial Regret at Older Ages and Longevity Awareness.”…Read More
People are uninformed about longevity risk, leading them to undersave and over consume, report Abigail Hurwitz of the Hebrew University of Jerusalem and Olivia S. Mitchell of the Wharton School. Via Wall Street Journal. (Subscription required). …Read More
Population changes in China leave more older people vulnerable, increasing the importance of research and policy initiatives to meet challenges, explains Professor John Piggott of the University of New South Wales, Australia. Via RetireSecure Blog. …Read More
Falling U.S. life expectancy ignores longevity dispersion, misleading Americans as they prepare for retirement. A risk-management mindset is needed instead, advise Olivia S. Mitchell of the Wharton School and Moshe Milevsky of York University. Via MarketWatch.…Read More
Should chronological or biological (risk-adjusted) age drive retirement claiming? Longevity research suggests the latter, per Prof. Moshe A. Milevsky of York University, via RetireSecure blog. …Read More
