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What is the "great wealth transfer," and who'll benefit from it?

Dec 12, 2024
Financial consultants predict older Americans will pass on $124 trillion, boosted by stocks and real estate, to heirs and charities through 2048.
A financial research and consulting firm forecasts that in the next 25 years, $124 trillion will be passed down from older to younger generations. Those inheritances will be largely concentrated within already wealthy families.
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Will employers opt to help workers pay down student loans?

Research found that average retirement balances were lower for people paying off student loans compared to those who weren't making the payments.
"It’s likely now that with payments resuming, the negative impact on retirement savings will also resume," said Marketplace senior economics contributor Chris Farrell.
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Why pensions are part of labor discussions again

Oct 9, 2024
Last year, just 15% of workers had access to pension plans. Now, unionized workers like the ones at Boeing are negotiating to get them back.
Members of the International Association of Machinists and Aerospace Worker Union District 751 voted to go on strike back in July. Pensions have become a sticking point in contract negotiations.
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Retired Americans tend to feel good about their finances. Workers, not so much.

Aug 22, 2024
There's a persistent, widening gap between workers’ gloomy expectations and retirees’ rosy reports in an annual Gallup survey.
People dance at a Florida retirement community. A Gallup poll shows retired Americans are generally comfortable with their finances, but many still working are anxious about the future.
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Why do fewer Americans think they'll be working past age 62?

Jul 25, 2024
American workers now expect to retire at a younger age than they did before the pandemic. But what kind of retirement will it be?
More Americans believe they won't work past age 62.
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It's easier now to pull emergency money from a retirement account

You can take out up to $1,000 without penalty if your employer offers the option, thanks to a recent law.
A new federal law makes it easier to pull money from retirement accounts in financial emergencies.
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Retirement communities are creating a "steady stream" of spending for local economies

Jul 18, 2024
At Sun City Texas, where the median age is 73, seniors are kicking up their heels and patronizing a variety of nearby businesses.
Many baby boomers are enjoying retirement and spending it up.
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For public good, not for profit.

Social Security benefits have lost 20% of their buying power since 2010, report finds

Jul 18, 2024
Social Security benefits are adjusted to protect retirees against inflation, but not enough, according to some experts, advocacy groups and lawmakers.
Every year, Social Security benefits are eligible for a cost of living adjustment. But experts, lawmakers and advocacy groups say the methods to calculate the COLA can be improved.
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Why are Gen Xers worried about retirement?

Jul 10, 2024
According to a new survey from BlackRock, only 60% of Gen Xers say they are on track to have enough retirement savings. And time is running out -- the oldest of them are reaching retirement age.
Unlike younger generations, Gen Xers are struggling to save money for retirement.
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401(k) contributions higher than ever, Vanguard says. But is it enough?

Jun 26, 2024
The investment company found that its 401(k) holders contributed 7.4% of their earnings in 2023. Automatic enrollment is a factor.
Vanguard 401(k) holders contributed 7.4% of their earnings in 2023 — almost 12% if you include employer contributions.
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