More Americans are becoming self-employed as a result of growing entrepreneurial interests, a desire to enhance income, phased retirement, and tax advantages. Retirement security is crucially important for the self-employed.…Read More
While Americans’ long-term financial security is essential, a target deserving of equal – if not more – attention has been overlooked, namely short-term financial security. A large number of U.S. households are financially fragile today, and their well-being as well as that of the entire economy rests on households’ capacity to deal with shocks.…Read More
How prepared are gig workers for retirement, and how can older Singaporeans steer clear of financial mistakes? CREA researchers considered these questions at a roundtable on ageing and financial preparedness.…Read More
As a phased retiree for 15 years, I’ve come to several conclusions about how to remain engaged post-retirement. Many of us want some type of work but not full-time; others seek work as independent contractors: and still others, as volunteers. Here I offer several lessons from experience.…Read More
The TIAA Institute and the Pension Research Council (PRC) of the University of Pennsylvania’s Wharton School released new research this month on the psychology, reasoning, biases and behavioral factors that affect how people make important financial and retirement decisions. The new studies – showcased during the TIAA Institute Fellows Symposium…Read More
Poor financial capability in old age can have serious repercussions, causing people to make mistakes with credit, draw down retirement assets too quickly, and fall victim to financial predators.…Read More
In our new research study which interviewed participants across 10 European countries, our team working with Annamaria Lusardi has demonstrated that financial and risk literacy leads to better choices when it comes to making decisions and identifying the right paths to our financial goals. We also show that the impact of financial and risk literacy on decision-making goes above and beyond that of education. And as in Olivia S. Mitchell’s recent findings, we confirm that women and millennials are least informed when it comes to financial and risk literacy.…Read More
There is an emerging financial crisis among multiemployer pension plans in America. These plans are a subset of private sector defined benefit pensions covering 10 million workers and retirees. Most critical are the projected bankruptcies of the Teamsters Central States and the United Mineworkers of America plans, making front page news for the last several months. These plans and many others were undermined by two financial market crashes between 2000 and 2009, corporate bankruptcies, de-regulation, and over-regulation. It will now take more than hope to fix them.…Read More
Pundits keep a close watch on the U.S. Federal Reserve as it meets to raise interest rates after seven years of effectively zero rates. Yet the reality is that many Americans know little about interest rates, and much less about the implications of a rate hike for their finances! This was one key finding from the recently released S&P Global FinLit Survey, gathered with the support of McGraw Hill Financial.…Read More
While many Americans are focused on providing a financially successful retirement for themselves, I believe that we also should also be aware of the importance of retirement wellness.…Read More
