Liderina / Getty Images/iStockphoto About 60% of baby boomers are now retired, according to the Transamerica Center for Retirement Studies — and many of these boomers are struggling financially. Data from the ALI Retirement Income Institute found that the majority of retirees have inadequate financial resources for retirement, CBS News reported, while more than one […]
HotPhotoPie / iStock.com New high school graduates may be contemplating their post-college career path. The labor market may change significantly by the end of this decade. In 2020, 29 million baby boomers retired, according to Pew Research Center. But that figure pales in comparison to the 75 million boomers set to retire by 2030, according […]
Some retirees are now cashing in on the golden age for retirement savings, when benefits were more generous and investments in real estate and stocks boomed.Getty Images; Alyssa Powell/BI Amid a widespread retirement crisis in the US, some boomers are entering their golden years flush with savings. They’re benefiting from now-rare pensions, real estate value […]
“We have $300,000 in non-retirement funds (60% cash), $1 million in a home, retirement accounts with $1.1 million in CDs and $1.8 million in stock funds.” (Photo subjects are models.) – Getty Images/iStockphoto Dear Quentin, We are a healthy, retired couple (69 and 64 years old). We have always managed our own investments. We currently […]
shapecharge / Getty Images There’s a lot of mystery surrounding personal finances in retirement. Much of this comes from misconceptions about debt and retirement savings. Some of it comes from a lack of financial planning along the way. It hurts someone’s ability to retire or even detract from their financial stability once they do. Read […]
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: I came to one important realization at France’s Cannes Lions Festival this week as I watched Nvidia (NVDA), Microsoft (MSFT), and Apple (AAPL) duke it out for the most valuable company on our […]
Here’s why baby boomers in America are in serious financial trouble — do any of these reasons apply to you? For the 73 million baby boomers in America, retirement has either arrived or is coming soon. By 2030, every member of this generation will be 65 or older, so they’ll be enjoying the good life […]
BI spoke to Gen X and boomer student-loan borrowers nearing retirement with six figures in debt. The student loans have prevented each of them from saving sufficiently for retirement. It’s part of a larger retirement crisis and could put Social Security benefits at risk. Diane Shelton, 58, has been working as a clinical psychologist for […]
Age discrimination undermines Larry Fink’s “solution” to the retirement crisis.Getty Images; LinkedIn; Chelsea Jia Feng/BI America is running headlong into a big problem: Boomers are getting older. In the coming years, the retirement-age population will balloon to its largest size yet, drawing down Social Security funds, overwhelming retirement homes, and leaving a labor shortage in […]
Say Goodbye to High U.S. Costs: Why Retiring Abroad Is the New Financial Strategy for Boomers From 2019 to 2022, the number of Americans receiving their Social Security benefits overseas increased from 413,000 to 760,000. With more countries opening up retirement visas, the idea of retiring abroad continues to grow in popularity. Why are so […]
3 reasons why boomers are eating through their retirement savings so quickly — how to preserve your nest egg Baby boomers have an average of $120,300 saved for retirement, according to Northwestern Mutual’s Planning & Progress Study 2024. Considering that the consensus among boomers is that it’ll take $990,000 in savings to retire comfortably, that’s […]
Jennifer Barnes is CEO of Optima Office. For as long as I’ve been a business owner, the narrative surrounding the baby-boomer generation was all about the coming retirement wave. We were promised a mass exodus from the workforce, a seismic shift that would leave companies scrambling to fill the void. At Optima Office, an outsourced […]