NEW YORK (AP) — The American dream of a blissful retirement, free of financial worries, is dying. Most U.S. households are heading for a worse lifestyle in retirement than they had while they were working, because they simply aren’t saving enough, experts say. Thirty-five percent of households in their prime earning years or later have [...]
CHICAGO — It was a striking image. A photo of an 89-year-old man hunched over, struggling to push his cart with frozen treats. Fidencio Sanchez works long hours every day selling the treats because he couldn’t afford to retire. The photo and his story went viral and thousands of people donated more than $384,000 for [...]
NEW YORK — Young Americans with even just $1 saved for retirement are ahead of the pack. Forty-eight percent of all Americans aged 18 to 30 have zero in retirement savings and no access to a traditional pension, according to a GenForward poll by the Black Youth Project at the University of Chicago with the [...]
A new Harris Poll commissioned by Columbus-based Nationwide Insurance reveals that a majority of retired women are on course for financial hardship during non-productive years. Nationwide Retirement Institute reported the results of the new poll, which found that these women could spend 70 percent of their Social Security benefit on health care costs. Paired with [...]
Coping with slow growth, client retention, integrating new generations — all are big concerns for the top law firms in the United States these days. But the one thing that will almost definitely make or break many law firms in the coming years? Baby boomers. Or the lack of them. Baby boomers and members of [...]
New research from the Employee Benefit Research Institute outlines what it calls “leakage,” preretirement reductions in defined contribution savings plans such as 401(k)s. To highlight its work on the issue, the institute devoted part of its 78th policy forum that took place earlier this year to the topics of retirement challenges and reforms and reducing [...]
CONCORD, N.H. — In a small town just south of New Hampshire’s capital, General Electric runs two plants filled with workers building jet engines for the world’s leading airlines. With 800 workers, GE Aviation is the largest employer in town. But in the next five to 10 years, about a third of those workers are [...]
Building wealth has gotten harder for most people in recent years. But the habits that can make you rich haven’t changed. It boils down to this: putting aside money, regularly and consistently, that can be invested for your future. You have to leave that money alone to grow, which means you also need an emergency [...]
CHICAGO — Raising kids costs a lot of money, so when they finally strike out on their own it stands to reason that parents would have more money to spend, save or invest. How they spend that money can have large consequences for their retirement security. A report by Boston College’s Center for Retirement Research [...]
CHICAGO — During their working years, women tend to earn less than men, and when they retire, they’re more likely to live in poverty. These are women who raised children and cared for sick and elderly family members, often taking what savings and income they do have and spending it on things besides their own [...]