Posts Tagged "bull market"
June 16, 2022
Economists Show Inequities’ Roots in Slavery
Conversations about the vast White-Black disparity in U.S. wealth may acknowledge its roots in slavery. But four economists have now made the case quantitatively by charting changes in the wealth gap since the Civil War.
The political and societal influences on wealth accumulation between 1860 and today are multifaceted but the basic trajectory is this:
The wealth gap shrank by roughly half during the Civil War era from 1860 to 1870 and dropped in half again between 1870 and 1920, the researchers said in their recent paper. The decades of improvements in Blacks’ per capita wealth, compared with Whites’, occurred despite a quick end to Reconstruction after the Civil War and the rise of Jim Crow laws around 1890 that curtailed recently freedmen’s rights in the South. (I’ll explain more about this counterintuitive finding below.)
Progress continued but was more modest after the 1920s and started stalling out around the 1950s. The situation deteriorated after the go-go-1980s on Wall Street as Black Americans’ wealth levels fell behind largely because they own much less stock and haven’t equally enjoyed the bull market gains of recent decades.
The wealth gap is so entrenched today, the study concluded, that reaching equality is “an extremely distant or even unattainable scenario.” …Learn More
March 17, 2020
Privilege in the Age of the Coronavirus
I appreciate how privileged my husband and I are that we are able to remain in our home, where we feel fairly safe.
He is a retired Boston high school teacher. I have a good job that also provides me with some degree of flexibility when needed, and my boss didn’t resist, because of my autoimmune condition, when I asked to work at home early last week.
A young couple in my condo building with a new baby fled last weekend to a relative’s house in rural Connecticut, where the husband will be able to telecommute to his high-paying job in Boston.
Yes, our 401(k)s are getting pummeled. But this national crisis is immediate and far more consequential for the millions of Americans who must work even in a pandemic. Workers have two concerns, and they are intertwined: health and money.
Think about the first responders, service-industry workers, or post office employees who are in contact with the public, constantly exposing themselves and, as a result, their families to the coronavirus.
Low-income people are also very vulnerable. Research shows that they are less healthy for reasons ranging from less access to employer health insurance to higher rates of smoking and obesity. Diabetes is more pervasive in low-income populations too.
Yet public health officials tell us that people with underlying conditions are far more vulnerable to getting seriously ill if they contract the virus – and these are the same people who usually don’t have the luxury to telecommute. Many low-income workers also live in crowded conditions, often with older relatives in fragile health.
Many workers are grappling with the realization that the economy is starting to slow down – and they will be the first to feel it. Consider the cleaning ladies or dog walkers whose clients are asking them not to come to the house this week or the servers at the restaurants shutting down in Manhattan, Massachusetts, Illinois, and across the nation. …Learn More
January 3, 2019
Here’s What Our Readers Liked in 2018
We’re kicking off 2019 with our periodic review of the most-read articles over the past year, based on the blog traffic tracked by Google Analytics.
Judging by the comments readers leave at the end of the blog posts, baby boomers are really diving into the nitty-gritty of preparing themselves mentally and financially for retirement. Financial advisers also frequently comment on Squared Away, and we hope some of our web traffic is because they’re sharing our blog with their clients.
Last year, Squared Away received recognition from other media. The Wall Street Journal recommended us to its readers for the blog’s “wonderful mix of topics.” The Los Angeles Times picked up our article, “Why Retirement Inequality is Rising.” MarketWatch published our posts about how pharmacists can help seniors reduce their prescription drug prices and about a Social Security reform to reduce elderly poverty.
The most popular blogs in 2018 fall into five categories:
The Big Picture
How Social Security Gets Fixed Matters
Future ‘Retirees’ Plan to Work
Just Half of Americans Enjoy Bull Market
Personality Influences Path to Retirement
How and When to Retire
Know About the 401(k) Surprise
How Retirees Can Negotiate Drug Prices
Work vs Save Options Quantified
What’s a Geriatric Care Manager Anyway?
Geriatric Help Eases Family Discord
Retirees Get a 401(k) Withdrawal Headache
Social Security Mistakes Can Be Costly …Learn More