Planning for retirement is undoubtedly essential — and can quickly become complicated without the proper preparation. Michael Finke, professor and director of retirement planning at Texas Tech University, discussed the importance of longevity in retirement planning, the implications of cognitive decline, and the notion of an impending retirement crisis.
Despite thousands of scholarly and practical articles, we still have a retirement crisis. But, reviewing the literature, it seems we have both the intellectual tools to avoid a retirement crisis and many (not all) of the needed institutional arrangements.
In the United States, state and local governments’ defined benefit pension plans are underfunded by more than $4 trillion, threatening the financial security of approximately 8 million retirees and 14 million workers, and taking a fiscal toll on states and municipalities.
In the annual shareholder letter for Berkshire Hathaway, Warren Buffett included some investing advice for his wife and her trustee — and the average person who is not an expert on stocks.
As if we didn’t have enough acronyms in financial services, this week we added a new one: “myRA” — which stands for “my Retirement Account.” As Marketplace explained in a READ MORE ›
I don't know about you, but to me it seems as if summer flew by. Here in the United States, Labor Day — the symbolic end of summer — is just around the corner. With that in mind, I thought I'd do something a little different this week: before I recap some of the most interesting content I've come across recently, here's an ode to summer.
I want it, and I want it NOW! Sound familiar? While that petulant behavior may remind you of your toddler, it's surprisingly common in adults, too. That's because it is an example of "temporal discounting" — our tendency to want things now rather than later. It seems we are hardwired for instant gratification.
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