Your Retirement | WYPR

Your Retirement

Thursdays at 3:04 P.M.

From WYPR 88.1 FM.  Anirban Basu reviews retirement news.

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Here are some facts supplied by the Motley Fool that may help you to determine how well you are doing in terms of saving for retirement.  First, the average retirement savings for an American family is in the neighborhood of ninety six thousand dollars – this according to a report from the Economic Policy Institute.  However, for households close to retirement age, the average level of savings is in the range of one hundred and sixty four thousand dollars, and this statistic does not include assets that could potentially be sold like a home.

With more on the story, Anirban Basu.

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Many people are frustrated by the idea of having to work longer than they would like. Our Golden Years are supposed to be about leisurely walks on the beach or 18 holes of golf, not about turning wrenches or entering data. Of course, many people are induced into working extra years for financial reasons. But there are other reasons to work, including personal fulfillment and your health.  

Anirban has more. 


Age Discrimination

Mar 30, 2017

Given the financial strains being placed on programs like Social Security and Medicare and slow labor force growth in recent years, policymakers have increasingly been focused on inducing people to work longer and retire later. Economic research published by the San Francisco Fed indicates that efforts to expand the ratio of older workers in the workforce are being frustrated by discrimination against older workers – older women in particular. 

Anirban has more. 


Savings Behavior

Mar 23, 2017
Philip Brewer/flickr

People expect to live longer these days, and available evidence suggests that that has begun to impact their savings behavior. According to the National Center for Health Statistics, the American lifespan now averages nearly 79 years. As reported by CNBC, a recent analysis of data by Ascensus pulled from more than 4,000 employer-sponsored retirement plans points to a number of emerging trends. 

Anirban has more. 


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Perhaps lost among last year’s election cycle was the fact that there were some really strange dynamics at work in the U.S. labor market. Even as the population grew older, the participation rate, the measure of all adults who are working or looking for work – stabilized. As reported by Bloomberg, that bucked a long-lived downward trend and surprised many economists in the process. It turns out that the labor force participation rate stabilized in large measure because of people in their 60s.  

Anirban has more. 


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According to new research conducted by the Census Bureau, fewer than one-third of Americans are saving money in the 401k and other workplace retirement accounts. This research is based on an analysis of tax records. This is shocking since nearly 80 percent of Americans work for an employer that offers retirement programs, whether a 401K or a 403B or something else. Only 32 percent of workers sign up for such accounts.  

Anirban has the rest of the story. 


ladycake711/flickr

When people work into their late-sixties or seventies, there may be a presumption that they are working because they have to.  This presumption exists for both men and women. Indeed, women have become significantly more likely to work into their sixties and even their seventies, often full-time – according to two new analyses of census, earnings and retirement data. As reported by The New York Times, many of these women are working because they enjoy it.  

Anirban has more of this story.


Elyce Feliz/flickr

Data seemingly indicate that many people are resigned to the notion that their retirement income will largely come from Social Security. For instance, a recent study by the non-partisan US Government Accountability Office or GAO indicates that as many as half of all households with Americans 55 years old or older have no retirement savings at all.

frankieleon/flickr

A piece published earlier this year by writer Dan Caplinger indicates what many of us know – the oldest members of the baby boom generation have now turned 70 and thousands reach standard retirement age each day. Rather than approaching retirement with enthusiasm, many boomers are simply terrified given the paucity of their savings and prospects of expensive needs registered during retirement. While boomers are likely to be more concerned about their retirement prospects than younger Americans, younger folks have reason to be concerned as well.

Philip Brewer/flickr

Recent data indicate that Baby Boomers are now retiring in droves. As reported by Bloomberg, the number of Americans aged 65 or older that aren’t in the labor force rose by 800,000 during the fourth quarter of 2016. The pace of retirement in America has been heading higher for more than five years. There are many implications stemming from this massive pace of retirement, including for the U.S. labor force participation rate, which continues to be suppressed by retirement and remains near a four-decade low.

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