Do Older Americans Have More Income Than We Think?

Abstract The Current Population Survey Annual Social and Economic Supplement (CPS ASEC) is the source of the nation’s official household income and poverty statistics. In 2012, the CPS ASEC showed that median household income was $33,800 for householders aged 65 and over and the poverty rate was 9.1 percent for persons aged 65 and over. […]

Social Security: Still the Most Efficient Way to Provide Retirement Income

Last week marked the 82nd anniversary of Franklin Roosevelt’s signing the bill that created Social Security. The program has stood the test of time well. It accounts for more than half of the income for 60 percent of senior households and more than 90 percent for almost one third. It has reduced poverty rates among the elderly […]

The US Loses Ground in Providing Retirement Security to Baby Boomers

A new global index of best practices by policy makers, employers and asset managers found that the United States is losing ground in providing economic and financial security and improved health care services to its 75 million baby boomers. While more homogenous and much smaller Scandinavian and European countries lead the world in forging a […]

The Retirement Wealth Inequality Machine

Yves here. I have mixed feelings about this video. On the one hand, Professor Ghilarducci does an impressive job of laying out the severity of the retirement crisis. But the flip side is she pushes the fallacy of having a public-private retirement savings program as a mass solution. We already have an economy which has […]