March 6, 2018

Stock Market Jitters, Millennials? Relax

Back in December, the Vanguard Group predicted a stock market that would “remain placidly subdued” in 2018.   What a difference two months has made.

A Morgan Stanley analyst, echoing many on Wall Street, has now declared, “The long-anticipated return of [stock market] volatility has arrived.”  The Standard & Poor’s index of 500 stocks slid 10 percent in a few days in late January and early February, bounced back, and then dropped again last week: the S&P declined another 2 percent, and the Dow index was down even more, by 3 percent.

No one can predict the future, of course – not Vanguard or Morgan Stanley.  “Time will tell,” the analyst said.  But while baby boomers have been thrown around by the stock market and witnessed a recovery in their portfolios, young adults might not be so chill.

Here are some earnest words of comfort, Millennials: you are truly the lucky ones. …Learn More

March 1, 2018

Future ‘Retirees’ Plan to Work

Most people used to sign up for Social Security when they were fairly young – around 62, which is the earliest age allowed. Not today: fewer than 40 percent are filing for benefits at that age.

So what else are we doing differently?  Well, working in retirement is high on the list.

About one in three Americans calling themselves retired in a new AARP survey have worked or now work in part-time, seasonal and sporadic jobs or sometimes full-time.

Keeping in mind that people don’t always do what they’d planned, boomers’ expectations for work exceed what current retirees are doing. Well over half of workers over 50 plan to find some kind of work after they retire.

The seeming oxymoron – working “retirees” – plays out in various ways.  State and local government workers retire as early as their 50s if they’ve worked enough years to max out their pensions. Some of these civil servants find other jobs while collecting a pension. Boomers who’ve left career jobs but lack a pension cut back to part-time work in their field or find a full- or part-time job in a new field.

Money is a major reason, with a notable exception. Some people work into their late 60s or 70s because they just enjoy it. They’re usually the most educated and frequently see their jobs as a labor of love that sustains their personal growth, professional identities, or relationships. …Learn More