“Unretirement is becoming more common, researchers report. A 2010 analysis by Nicole Maestas, an economist at Harvard Medical School, found that more than a quarter of retirees later resumed working. A more recent survey from RAND Corporation, the nonprofit research firm, published in 2017, found almost 40% of workers over 65 had previously, at some point, retired.”
Tag: retirement plans
With the economy on the mend, many Americans are looking at the future with more optimism than they did prior to the recession. According to a new report by Mintel, more than eight in 10 high net worth households (defined as households with at least $500K in investable assets excluding real estate) say they are optimistic about their own financial situation over the next five years. Almost as many (76%) say they are optimistic for a shorter 12 month term, but a significant number remain pessimistic about 2011 (42%). Women respondents are much more pessimistic than men, with more than half of women (51%) saying they are pessimistic vs. 36% of males in high net worth households. Susan Menke, vice president and behavioral economist at Mintel Comperemedia, suggests that advisors focus on high net worth women, saying “the time is right to focus on adjustments to retirement portfolios for high net worth individuals, and women across all age groups would be an opportune place to start.”
It’s too soon to know if Social Security will be around to provide a safety net to the youngest employees in the work force. But retirement planning experts see trouble on the horizon with respect to the fiscal planning taking place by members of the Gen Y demographic, those who are currently between the ages of 18-30. Financial advisors can start working now with employers to help guide employees to the right strategies for retirement saving.