Younger generations will need to work longer, save more, and expect less from the government in retirement, warns Wharton Professor Olivia S. Mitchell, via CBS News.…Read More
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Senate Lawmakers Work to Address Social Security and Medicare Solvency
Lawmakers may try to avoid addressing Social Security and Medicare insolvency, undermining Americans’ retirement security, states Wharton Professor and member of the 2001 Commission to Strengthen Social Security, Olivia S. Mitchell. Via Medill on the Hill. …Read More
What is the future of Social Security?
With Social Security insolvency looming, reforms will require spreading the burden across current & future generations, says Olivia S. Mitchell of The Wharton School. Via Penn Today. …Read More
Study: Education level should drive decisions on Social Security, annuities
Lifetime income & education levels should inform key financial decisions in retirement, including when to claim social security and how to invest, report Wharton researcher Olivia S. Mitchell, with Goethe University Frankfurt scholars Vanya Horneff and Raimond Maurer. Via InsuranceNewsNet. …Read More
Americans’ 4 biggest retirement regrets and how to avoid them
Older Americans wish they had prepared for retirement, by saving more, working longer, preparing for healthcare costs, and delaying social security withdrawals, report researchers Abigail Hurwitz of Hebrew University of Jerusalem and Olivia S. Mitchell of the Wharton School via FinancialPlanning. …Read More
Regret Is a Powerful Savings, Planning Motivator: New Study
60% of older survey respondents feel regret for not having saved more and claimed Social Security too young, report Profs Abigail Hurwitz of the Hebrew University of Jerusalem, and Olivia S. Mitchell of the University of Pennsylvania, via Think Advisor.…Read More
U.S. Women, Work, and the COVID Pandemic: Myths and Realities
Periods of nonemployment like those caused by the pandemic can have long-term impacts on women’s financial well-being. Working longer and saving more for retirement can mitigate these effects, explains Wharton Prof. Olivia S. Mitchell via PRB.…Read More
Make Social Security Fairer to Workers
Social Security needs reforms to strengthen it. One that would incentivize workers to delay retirement is to pay the delayed-retirement credit as a lump sum according to Wharton Prof. Olivia S. Mitchell, cited in Morning Consult.…Read More
Latest Retirement Research: Track Spending, Invest in Health
Poor financial capability can erode later life well-being. Use auto-pay for bills, keep track of spending, and take the time to improve financial literacy, advises Wharton Prof. Olivia S. Mitchell, via TheStreet.com.…Read More
These are the people who benefit most from delaying required minimum distributions
‘Do Required Minimum Distribution 401(k) Rules Matter, and For Whom? Insights from a Lifecycle Model:’ Wharton Prof. Olivia S. Mitchell notes that raising the RMD age would have little effect on most people, but would help wealthier retirees leave a legacy, via MarketWatch. Full paper here.…Read More