Two weeks ago as I was working on some articles for the website, I stumbled on an interesting article about social security. The article was titled, "Millennials and Retirement: How Bad is It?" by Alicia H. Munnell on Politico's website. The article dug into the numbers of savings for retirement. The data that they shared was from a study conducted by the U.S Board of Governors of the Federal Reserve System, titled, "Survey of Consumer Finances, 1983-2016." In the article, they shared the following graph.
Families struggling with finances was the topic of the Fed's latest report of 'Economic Well-Being of American Households.' There was some alarming data reported and Tyler Durden, an author at Zero Hedge, did a nice break down of data in his article on the site.One stat in particular jumped out to me. The Fed Reported "44% of the Americans surveyed don't have $400 cash for emergencies."
Recently, I was reading an article on Money.com. It talked about the increasing age of retirement in America. The article was titled, "Millennials, Get Ready To Work Longer Than Your Parents" In the article, it mentioned that a recent study showed that the retirement age has increased from an average age of 61.8 to 62.8. Do we really need to accept this? Nope, the article lies out multiple ways to avoid the increasing retirement age.
“Why I Defaulted on My Student Loans,” was written by Lee Siegel and published in the New York Times on June 6, 2015*. This article is written in response to some of the statements in that article.