Conclusion
Moving Forward
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Half of American households have less than $10k in savings.
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In 1975, 85% of private sector employees had pensions. In 2013, only 35% do.
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The average investor underperforms inflation.
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A third of Baby Boomers have no retirement savings.
Ask the Right Experts Questions
Curious how to maximize your own Social Security benefits, future or current? Submit questions to our retirement financial planning guru Larry Kotlikoff on The Making Sen$e Business Desk. (Use the red ‘Ask Paul a Question’ box on the right!) Then, check back to see if he answers your question.
Ask Larry Kotlikoff a Question
If you’re interested in job-hunting advice, whether you’re a greenhorn or long in the tooth, submit your questions to ‘Ask the Headhunter’ extraordinaire Nick Corcodilos. Then, go to our Making Sen$e Business Desk for advice and to see your questions answered.
Email Nick Corcodilos
Three Steps to Act on Now To Help Bootstrap Your Future
Don’t underestimate your needs or forget to “expect the unexpected.” These sites may help you get your finances in order.
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The One Safe Investment and Why You Never Hear About It From Financial Advisors
Economist Zvi Bodie, perhaps the country’s foremost expert on pension finance, insists that every American at least consider an investment that financial advisors almost never mention.
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What Good Do Money Management Firms Have to Offer?
When a feline can pick stocks better than a human, money manager Jon Shayne argues there are still very good reasons to have money management firms actively pick stocks and invest your money.
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Social Security Calculator
AARP’s free software to help you decide when to claim your benefits. (More elaborate software is also available, including at Larry Kotlikoff’s maximizemysocialsecurity.com, but it comes at a cost.)
A Financial Advisor Can Help
Perhaps a second career is in your future, or maybe you’re working longer than the “traditional” retirement age?
Today’s older workers may very well need to have a plan in place to stay in the workforce longer. Start preparing when you are in your late 50s or early 60s for your next career, or work with your employer to adapt your job and add new skills as you get older. These are good places to start for useful advice and how-tos:
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Encore.org
A site with information that helps “make it easier for millions of people to pursue second acts for the greater good. We call them "encore careers"—jobs that combine personal meaning, continued income and social impact – in the second half of life.”
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AARP’s ‘Recareering’ Site
Articles and resources on switching careers after age 50.
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Next Avenue
A PBS site “where grown-ups keep growing” that addresses a wide range of second career, financial, caregiving, health and lifestyle topics.
- Ten Tips for Senior Entrepreneurs
