2019 was a busy year in the realm of retirement. Here are some of our most popular posts, papers, videos and news items for the year.…Read More
The Best of 2019 at the PRC
saving
Millennials will need to save at least 40 percent of their paychecks for retirement, financial expert says
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.
Financial forecasters say millennials need to start socking away half of their paycheck
“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.
Retirement Savings as a Political Cudgel in the Debate over FTTs
A financial transaction tax (FTT) is exactly what it sounds like: a tax imposed on the exchange of all or certain types of financial instruments. A well-known example of such a tax is the British stamp tax—a modern version of the tax that contributed to the American independence movement. Recently, several prominent presidential candidates, including Bernie Sanders, Elizabeth Warren, and Kamala Harris, have called for such a tax……Read More
Auto-Enrollment Retirement Plans for the People: Choices and Outcomes in OregonSaves
Oregon is leading the way expanding access to workplace retirement plans via its OregonSaves program. How has it affected participation and outcomes among eligible employees? A new paper entitled “Auto-Enrollment Retirement Plans for the People: Choices and Outcomes in OregonSaves,” by John Chalmers, Olivia S. Mitchell, Jonathan Reuter, Geoffrey Sanzenbacher…Read More
New from the Pension Research Council: How Persistent Low Returns Will Shape Saving and Retirement
Financial market developments over the past decade have undermined what was once thought to be conventional wisdom about saving, investment, and retirement spending. How Persistent Low Returns Will Shape Saving and Retirement explores how the weak capital market performance predicted for the next several years will shape pension saving, investment, and decumulation plans.…Read More
Putting The Pension Back Into Retirement
Defined contribution plans – often known as 401k plans – have become the mainstay of US company pensions, yet their main function has been to get employees to save and invest during their work years. These plans haven’t been successful at delivering lifetime income benefits, as a rule: fewer than one-fifth of all such plans today help workers convert their plan assets into retirement paychecks.…Read More
Making Your Retirement Savings Last
Ask yourself these questions:
Do you want a guaranteed retirement income stream as long as you live, to protect you against outliving your assets?
Are you nearing retirement?
Are you in a defined contribution pension – either an employer-sponsored 401(k) or 403(b) plan, or an individual Roth or regular IRA?
If the answer to any of these questions is “yes,” reading this post could save you money!…Read More
A Peek Into America’s Pocketbook Reveals Finances Are Improving Slowly, But Surely
Today’s release of the latest National Financial Capability Study shows that we’re doing better protecting ourselves against financial emergencies than in the past. We’re also doing a better job cutting our high-interest debt than previously. Yet our personal finances, particularly the amount of debt we’re taking on, is still troubling.…Read More
Happy Financial Literacy Month!
April is Financial Literacy Month. You might suspect there is a problem with financial literacy in America, if an entire month is dedicated to it! And you would be right.…Read More