confronting aging, a world in transition
Menu

weekly blog--one for the ages

Retirement Savings Crisis

2/26/2016

0 Comments

 
The watchword this week is Retirement Planning. The click started with a blog that I received from
Squared Away, an online retirement planning tool produced by the Center for Retirement Research at Boston College, alerting readers that the National Council on Aging (NCOA) had redesigned its website and featured information on reverse mortgages. The significance of a reverse mortgage is that you need more cash to fund your retirement years or pay for an unexpected crisis. Later in the day, I was scanning Yahoo news and stumbled across a Chicago Tribune article proclaiming that the dreams of living well in retirement are dimming for Americans.

With that said, I began digging deeper, and if you are a baby boomer, especially one who has watched their mothers and fathers retire comfortably and are not Trump-like wealthy, please take out a handkerchief because you are probably not saving enough money to do the same. And not helping matters are roller-coaster stock and real estate prices, rickety 401k plans that have replaced the tried-and-true defined pension system, a shaky job market, skyrocketing health care and tuition costs, stagnant incomes, and a social security system which could go broke in 20 years.

Add up the numbers and it’s conceivable that many baby boomers will spend their later years experiencing the desperation and uncertainty of poverty and near-poverty unless they postpone retirement for as long as possible, figure out ways to get by with less, and/or find more creative housing solutions. There is also the possibility that private business and government will work together to find a solution. But don't hold your breath...it could come down to the centuries-old dilemma of who needs the most help: the young, the elderly, or everyone in between.

0 Comments



Leave a Reply.

    RSS Feed

    Archives

    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016

Proudly powered by Weebly
  • Home
    • Caring for Elderly Parent
    • Eating & Exercise
    • Emerging Technology & Concepts >
      • End of Life Options/Issues/Grieving >
        • VSED Primer
    • Entrepreneurship
    • Health Challenges
    • History of Aging >
      • Ancient Egypt, India, China
      • Before 1500
      • 1500s & 1600s
      • 1700s & 1800s
      • 1900s & 2000s
      • Early New England (1600s)
      • Quest To Look Young
      • Books
    • Housing Options & Aging in Place Guide
    • Insurance, Security, Fraud
    • Intergenerational Programs
    • LGBT
    • News & Trends
    • Positive/Successful Aging
    • Retirement/Estate Planning
    • Science of Aging
    • Support Resources
    • Travel
    • Weekly Blog
  • About
  • Contact
  • Home
    • Caring for Elderly Parent
    • Eating & Exercise
    • Emerging Technology & Concepts >
      • End of Life Options/Issues/Grieving >
        • VSED Primer
    • Entrepreneurship
    • Health Challenges
    • History of Aging >
      • Ancient Egypt, India, China
      • Before 1500
      • 1500s & 1600s
      • 1700s & 1800s
      • 1900s & 2000s
      • Early New England (1600s)
      • Quest To Look Young
      • Books
    • Housing Options & Aging in Place Guide
    • Insurance, Security, Fraud
    • Intergenerational Programs
    • LGBT
    • News & Trends
    • Positive/Successful Aging
    • Retirement/Estate Planning
    • Science of Aging
    • Support Resources
    • Travel
    • Weekly Blog
  • About
  • Contact