Oregon’s state-sponsored auto-enrollment retirement program for workers whose employers don’t offer pensions: the program has helped some workers save, but others opted out. Wharton Prof. Olivia S. Mitchell examines the successes and shortcomings of the program, in a paper featured in the latest NBER Digest.…Read More
Women’s financial knowledge and confidence are quite low, with Black and Hispanic women particularly poorly served by one-size-fits-all financial education programs. Better-targeted programs that take their particular needs and circumstances into account would help, explains Wharton Prof. Olivia S. Mitchell in the Wharton Social Impact Faculty Spotlight. …Read More
Opting for phased retirement? Find your own path for fulfillment, and a ‘life portfolio’ is as important as a financial portfolio, involving health, and the people, places, and activities you value, explains Anna Rappaport. Via the RetireSecure blog.…Read More
Changes to the RMD age affect mostly households with bequest motives, so financial institutions should consider their clients’ intentions before advising them on RMD strategies. A research review of work by Wharton Prof. Olivia S. Mitchell, cited in PlanSponsor. Original paper by Horneff, Maurer, and Mitchell entitled “Do Required Minimum Distribution 401(k) Rules Matter, and For Whom? Insights from a Lifecycle Model”.…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
