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Author: Olivia S. Mitchell
Publisher: Oxford University Press
ISBN: 0199696810
Category : Business & Economics
Languages : en
Pages : 328
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Book Description
As defined contribution pensions become prevalent, retirees are increasingly responsible for managing their own pension assets and thus their own financial literacy becomes crucial. Based on empirical evidence and new research, the book examines how financial literacy enhances retirement decision-making in ever more complex financial markets.
Author: Olivia S. Mitchell
Publisher: Oxford University Press
ISBN: 0199696810
Category : Business & Economics
Languages : en
Pages : 328
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Book Description
As defined contribution pensions become prevalent, retirees are increasingly responsible for managing their own pension assets and thus their own financial literacy becomes crucial. Based on empirical evidence and new research, the book examines how financial literacy enhances retirement decision-making in ever more complex financial markets.
Author: Carrie Schwab-Pomerantz
Publisher: Crown Currency
ISBN: 0804137366
Category : Business & Economics
Languages : en
Pages : 434
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Book Description
Here at last are the hard-to-find answers to the dizzying array of financial questions plaguing those who are age fifty and older. The financial world is more complex than ever, and people are struggling to make sense of it all. If you’re like most people moving into the phase of life where protecting—as well as growing-- assets is paramount, you’re faced with a number of financial puzzles. Maybe you’re struggling to get your kids through college without drawing down your life’s savings. Perhaps you sense your nest egg is at risk and want to move into safer investments. Maybe you’re contemplating downsizing to a smaller home, but aren’t sure of the financial implications. Possibly, medical expenses have become a bigger drain than you expected and you need help assessing options. Perhaps you’ll shortly be eligible for social security but want to optimize when and how to take it. Whatever your specific financial issue, one thing is certain—your range of choices is vast. As the financial world becomes increasingly complex, what you need is deeply researched advice from professionals whose credentials are impeccable and who prize clarity and straightforwardness over financial mumbo-jumbo. Carrie Schwab-Pomerantz and the Schwab team have been helping clients tackle their toughest money issues for decades. Through Carrie’s popular “Ask Carrie” columns, her leadership of the Charles Schwab Foundation, and her work across party lines through two White House administrations and with the President’s Advisory Council on Financial Capability, she has become one of America’s most trusted sources for financial advice. Here, Carrie will not only answer all the questions that keep you up at night, she’ll provide answers to many questions you haven’t considered but should.
Author: Teresa Ghilarducci
Publisher: Columbia Business School Publi
ISBN: 9780231185646
Category : Business & Economics
Languages : en
Pages : 166
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Book Description
In Rescuing Retirement, Teresa Ghilarducci and Tony James offer a comprehensive yet simple plan to help workers save for retirement, increase retirement savings by earning higher returns, and guarantee lifelong income for everyone. It offers a practical guide to the future of secure retirement.
Author: Olivia S. Mitchell
Publisher: Oxford University Press
ISBN: 0198808038
Category : Business & Economics
Languages : en
Pages : 249
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Book Description
This volume will explore how financial decision-making changes at older ages, how and when financial advice can be useful for the older population, and what solutions and opportunities are needed to resolve the likely problems that will arise.
Author: William G. Gale
Publisher: Brookings Institution Press
ISBN: 0815739354
Category : Business & Economics
Languages : en
Pages : 406
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Book Description
Pensions and retirement saving plans have helped millions of households build financial security. But tens of millions of people have been left behind, without access to these wealth accumulation vehicles. For many others, the plans they have do not ensure financial security in retirement. The problems that underlie these failures can be addressed. This book proposes concrete, practical ways to make dependable retirement income accessible for all Americans—not just those with means. Individual accounts have eclipsed traditional pensions as the primary vehicle for retirement saving in the United States—a shift that underlies many sources of retirement insecurity. The 401(k) plan and similar accounts have increased financial security for many people but have done nothing for millions more. Many of those who do have such plans are burdened with the need to make numerous saving, investment, and withdrawal decisions that stress their financial acumen. Financial advice that is unbiased, unconflicted, and affordable is often difficult to find. Managing wealth in retirement—especially the need to convert retirement savings into steady income—poses significant challenges that current financial instruments and practices do not adequately address. Economic downturns like the Great Recession and the COVID-19 pandemic increase financial insecurity and make addressing these issues more urgent. Written by noted experts in the field, Wealth After Work offers practical solutions that address these concerns. The proposals show how policymakers can help all Americans gain access to retirement savings accounts, obtain better information about their savings choices, and better manage their wealth in retirement. By proposing solutions that build on, rather than replace the existing system, the book provides a nuanced, practical guide to reform that would benefit all Americans.
Author: Robert L. Reynolds
Publisher: McGraw Hill Professional
ISBN: 1260116085
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
The practical, nonpartisan guide to making our retirement savings systems work for America’s people, our economy, and the nation at large At a time of fierce political divisiveness, From Here to Security is a refreshingly balanced, non-ideological guide to solving what may be our nation’s most pressing policy challenge: achieving retirement security for all. A pioneer of the 401(k) system, Robert L. Reynolds eschews radical calls for throwing out the 401(k) entirely and creating a new government-run savings system. Our best course, he shows, is to build on what we have: a flexible, dynamic private-public system of Social Security and more robust workplace savings. From Here to Security provides a clear, powerful new approach to solving America’s retirement challenge – based on facts, data, and Reynolds’ decades of experience. While fear-mongers claim that the U.S. retirement system is on the verge of collapse; Reynolds shows why our system is actually the envy of the world. But From Here to Security is no status quo book. Reynolds lays out an action agenda to dramatically improve our retirement systems – public and private – lift our savings rate, improve people’s retirement prospects, spur faster growth – and reboot America’s national morale.
Author: Olivia S. Mitchell
Publisher: Oxford University Press
ISBN: 0199266913
Category : Business & Economics
Languages : en
Pages : 361
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Book Description
This book, the first in a new series produced by the Pension Research Council of the Wharton School in collaboration with Oxford University Press, explores ways to enhance retirement security in a volatile financial environment.Mitchell and Smetters begin by assessing the myriad retirement risks confronting employees, retirees, employers, and governments, and it shows how stakeholders can work to reinvent pensions that perform well in a competitive global setting. Contributors then indicate how pension systems can be better designed to help protect against these risks.Of special interest is a discussion of new financial products and structures to meet and manage challenges to old-age security. Examples considered include pension investment guarantees and hedges, adapting catastrophe bonds to the pension context, and key regulatory structures and portfolio requirements designed to protect unwary or unwitting pension participants. The contributors draw important lessons for a wide range of countries, drawing from both developed and developing marketexperiences.Contributors include world-famous finance experts and risk management faculty, development economists, pension regulators, and pension consultants.
Author: Erin Botsford
Publisher: Greenleaf Book Group
ISBN: 1608322491
Category : Business & Economics
Languages : en
Pages : 139
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Book Description
Packed with the best strategies to manage wealth in retirement, this book helps readers live the life they have always envisioned - without risk of running out of money. It shows readers how to become informed, wise investors - avoiding common pitfalls, challenging the status quo, and refusing to take advice blindly.
Author: Lionel Martellini
Publisher: Cambridge University Press
ISBN: 1108912141
Category : Business & Economics
Languages : en
Pages : 158
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Book Description
To supplement replacement income provided by Social Security and employersponsored pension plans, individuals need to rely on their own saving and investment choices during accumulation. Once retired, they must also decide at which rate to spend their savings, with the usual dilemma between present and future consumption in mind. This Element explains how financial engineering and risk management techniques can help them in these complex decisions. First, it introduces 'retirement bonds', or retirement bond replicating portfolios, that provide stable and predictable replacement income during the decumulation period. Second, it describes investment strategies that combine the retirement bond with an efficient performanceseeking portfolio so as to reduce uncertainty over the future amount of income while offering upside potential. Finally, strategies using risk insurance techniques are proposed to secure minimum levels of replacement income while giving the possibility of reaching higher levels of income.
Author: James W. Russell
Publisher: Beacon Press
ISBN: 0807012564
Category : Business & Economics
Languages : en
Pages : 225
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Book Description
How 401(k)s have gutted retirement security, from charging exorbitant hidden fees to failing to replace the income of traditional pensions Named one of PW's Top 10 for Business & Economics A retirement crisis is looming. In 2008, as the 401(k) fallout rippled across the country, horrified holders watched 25 percent of their funds evaporate overnight. Average 401(k) balances for those approaching retirement are too small to generate more than $4,000 in annual retirement income, and experts predict that nearly half of middle-class workers will be poor or near poor in retirement. But long before the recession, signs were mounting that few people would ever be able to accumulate enough wealth on their own to ensure financial security later in life. This hasn’t always been the case. Each generation of workers since the nineteenth century has had more retirement security than the previous generation. That is, until 1981, when shaky 401(k) plans began replacing traditional pensions. For the last thirty years, we’ve been advised that the best way to build one’s nest egg is to heavily invest in 401(k)-type programs, even though such plans were originally designed to be a supplement to rather than the basis for retirement. This financial experiment, promoted by neoliberals and aggressively peddled by Wall Street, has now come full circle, with tens of millions of Americans discovering that they would have been better off under traditional pension plans long since replaced. As James W. Russell explains, this do-it-yourself retirement system—in which individuals with modest incomes are expected to invest large sums of capital in order to reap the same rewards as high-end money managers—isn’t working. Social Insecurity tells the story of a massive and international retirement robbery—a substantial transfer of wealth from everyday workers to Wall Street financiers via tremendously costly hidden fees. Russell traces what amounts to a perfect swindle, from its ideological origins at Milton Friedman’s infamous Chicago School to its implementation in Chile under Pinochet’s dictatorship and its adoption in America through Reaganomics. Enraging yet hopeful, Russell offers concrete ideas on how individuals and society can arrest this downward spiral.
