The effects of the COVID-19 coronavirus pandemic on unemployment in America have led to most recent estimates placing the national unemployment rate at 11.1% as of June 2020, up from 4% one year prior according to the Bureau of Labor Statistics. Unemployment that has been driven by the pandemic’s effect on the economy is deepening […]
As the economic impact of the COVID-19 coronavirus pandemic continues to be felt by Americans, the process that members of the baby boomer generation go through to try and find work has been complicated by the ongoing effects of the virus. To that end, there are some tips that older workers can try to potentially […]
As many businesses shifted employees to work from their homes, new research suggests that older workers are about as well situated to work from home as their younger counterparts. However, the same research also suggests that only about 45% of older workers are in occupations that can allow them to work remotely. This is based […]
The Social Security trust fund’s 75-year deficit has been forecasted to increase from 2.78% to 3.21% of taxable payroll, due to a repeal of tax on high-premium health plans, a lower assumed total fertility rate resulting in a higher share of retirees in the workforce, lower inflation and a lower interest rate. The trust fund […]
The most recent cohort of Americans who are part of the “baby boomer” generation – typically classified as people born between 1946 and 1964 – are less wealthy when compared to older baby boomers, putting them at greater risk of financial instability in retirement. This is according to a new brief by researchers Anqi Chen, […]
There are four “overhyped” investment strategies that retirees should avoid when trying to determine how to make ends meet in retirement, and among equity-indexed annuities, non-traded real estate investment trusts (REITs) and cash-value life insurance, reverse mortgages should be considered among the last options. This is according to Liz Weston, a certified financial planner and […]
A new research working paper released by the Boston College Center for Retirement Research reveals not only that the majority of seniors’ preferences is to remain in their homes as they age, but that a majority of homeowners experience enough residential stability to tap home equity through either reverse mortgages or property tax deferrals. As […]
As an increasing share of older Americans are turning toward other kinds of emerging jobs in order to make ends meet in retirement, many older workers are turning to jobs that don’t carry any benefits. The result of this is that fewer older workers are in more “traditional” jobs that carry benefits, while many other […]
Delaying marriage until later in life could also delay the time at which a worker enrolls in a 401K savings account, and the amount of money that is contributed to it. This is according to a study conducted by Geoffrey T. Sanzenbacher and Wenliang Hou, members of the Center for Retirement Research at Boston College. […]
A government report issued in April on the financial solvency of the Social Security program painted a dire picture for the program’s future, saying that at current disbursement levels, the program would run completely out of funds by 2036. A new research brief says, however, that Social Security’s financial health has actually improved, but that […]
