Is the Great Recession bypassing seniors? That’s the conclusion drawn by a new study looking at the downturn’s impact on different age groups. But I’m not buying it. The Pew Research Center poll reports that Americans over age 65 are less likely to have been forced to cut their spending by the downturn than middle-aged [...] [read full article…]
Some people start businesses later in life because they want to; others do it out of necessity after a job loss. Steve Vernon is among the fortunate ones who made the leap to entrepreneurship on his own. He took early retirement in 2006 from Watson Wyatt Worldwide, the employee benefits consulting firm, where he was [...] [read full article…]
Before the economic crash, many Americans over age 50 were telling pollsters they intended to start businesses rather than retire after finishing their primary careers. Now, the ranks of would-be entrepreneurs are swelling out of necessity as the recession pushes more people into premature early retirement. How are 50-plus entrepreneurs faring in the current tough [...] [read full article…]
Fidelity Investment reported today that retirement savers kept investing in the first quarter, making very few changes in their contribution levels despite ongoing market turmoil. Fidelity has one of the industry’s largest customer bases, so its investment data provides an interesting lense into overall investor behavior. Highlights: –Ninety-seven percent of Fidelity 401(k) investors continued to [...] [read full article…]
News that Social Security and Medicare are on track to run out of money earlier than previously expected will turn up the heat in Washington to enact reforms to both programs. The Obama Administration said that the recession has pushed up the forecast dates when Social Security and Medicare could run out of money, unless [...] [read full article…]
