Falling short

Munnell, Alicia Haydock. “Falling short”. Issue in Brief 15-7, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, April 2015. http://hdl.handle.net/2345/bc-ir:104213.
PREVIEW Datastream
PDF

Abstract

The brief's key findings are: (1) Today's workers face a brewing retirement crisis due to: (a) a growing need for income driven by longer lifespans, rising health costs, and low interest rates; and (b) reduced support from Social Security and defined benefit pension plans. (2) Fortunately, the solutions are at hand: (a) Policymakers should shore up Social Security with more revenue, make 401(k)s fully automatic, and ensure everyone has access to a savings plan. (b) Individuals should work longer – to age 70 if possible – and consider tapping their home equity in retirement to support day-to-day needs. (3) Any delay in responding to the challenge will only make adjustments more painful down the road.

Title
Falling short: The coming retirement crisis and what to do about it
Author
Munnell, Alicia Haydock
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
April 2015
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
15-7
Version Identification
Version of record.
Persistent Link
http://hdl.handle.net/2345/bc-ir:104213
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Financing retirement

My Bookmarks

Bookmarks: