Every day, 10,000 Americans turn 65 years old. For much of the 20th century, the 65th birthday meant retirement. But not in 2020, according to two recent articles. A CNBC.com story noted that a majority of workers (54%) said they expect to continue working after age 65, including 14% who never plan to retire. And a Wall Street Journal … Continue reading "Could The SECURE Act Enable Fewer People To Work Past Age 65?"
The media routinely report that student loans are a major burden on families and young people. Several presidential candidates have even turned education-related debt into a campaign issue, pushing for across-the-board debt forgiveness. Is education-related debt really that much of a challenge? How exactly does it impact borrowers? Consider some facts: 44.7 million Americans have … Continue reading "Buyers’ Remorse for Student Loans?"
When interest rates are especially low—like today—Americans have a greater incentive to borrow and spend. The reasons are many. Buy a car, a home or a new appliance. Americans also borrow to pursue more education or take a vacation. All this contributes to a growing economy. From the 1980s until about 2010, interest rates were on … Continue reading "More Seniors are in Debt: An Unintended Consequence of Low Interest Rates"
As previously discussed, the United States is in a low interest rate environment. Low interest rates negatively impact people saving for retirement, including those who invest in fixed-return assets (assets that pay people a set interest rate). They can have a particularly severe impact on retirees and those nearing retirement. But how much do a … Continue reading "What’s the Difference of a Few Percentage Points for Retirement Savers?"
[First in a series of IMPACT posts examining the impact of a prolonged low interest rate environment] Since the 2008 financial crisis, much of the world has lived in a low interest rate environment. Low interest rates may be justified from a monetary perspective. But retirees and those in the later stages of their careers … Continue reading "Low Interest Rates Equal High Costs for Retirement Savers"
According to a recent survey by LIMRA and Life Happens, if faced with the loss of an income-earner, 35 percent of U.S. households would experience financial adversity within one month. Almost half would face financial hardship within one year. Clearly, adequate life insurance coverage would address that problem. But less than 60 percent of Americans … Continue reading "Don’t Wait for a Difficult Time to Start Thinking About Life Insurance"
According to the Department of Health and Human Services, 59% of seniors will receive unpaid care during their lives, typically for about a year, from a family member. Currently, there are about 34 million unpaid caregivers in the United States who care for someone 50 or older. Helping people take care of the things that … Continue reading "Life Insurers Help Ease the Burden on Unpaid Caregivers"