People are living longer, and financial security into retirement is not just a challenge in the United States – it’s a challenge facing people around the world. The G20 – an international forum for the governments of 20 major economies – has selected aging society and filling the protection gaps created by increasing longevity as a priority issue. The Japanese G20 presidency will explore best practices for how to increase financial inclusion and fill the gaps in income replacement and retirement security during a period of unprecedented longevity. Japan is building on the foundation begun under Argentina’s G20 presidency, which … Continue reading "G20 Says Aging Society Is a Priority Issue"
As appeared in Morning Consult, February 13, 2019 A few months ago, I said that retirement security will be a policy issue everyone is talking about over the next decade. Last week, influential leaders in Congress laid proof to that claim, kicking off the new year noting retirement security as a bipartisan priority issue. The House Ways and Means Committee, led by Chairman Richard Neal (D-Mass.) and Ranking Member Kevin Brady (R-Texas), held a hearing on improving retirement security for America’s workers. The same day, the Senate Special Committee on Aging, led by Sen. Susan Collins (R-Maine), held a hearing on innovations and best practices … Continue reading "Congress Makes It Clear: Retirement Security Is a Priority Issue"
Retirement security will be a policy issue everyone is talking about over the next decade. Not only is the world’s population growing, but people are living longer too, thanks to advances in medicine and science. This is especially true for our children — the millennials and Generation Z — who are very likely to live to be 100 or more. This is great news for those who are prepared financially, but of deep concern to those who are not. In this dichotomy lies the challenge for policymakers and thought leaders who are already grappling with solutions to ensure all Americans can … Continue reading "Why Financial and Retirement Security Will Be the Policy Issue of the Next Decade"
For many people in my generation, we have a picture of what we want our financial lives to look like as our children leave home, and we enter the second half of our working lives. In reality, we’ve found that our parents’ pensions and Social Security benefits may not cover their living costs, especially if they have chronic health issues, as 1 out of 4 Americans do (the number rises to three in four Americans age 65 and older). At the same time, we have children who are still living at home or we’re paying an average of $26,500 a year for … Continue reading "The Sandwich Generation and Long-Term Care Insurance"