When the government can no longer pay full Social Security benefits

May 7, 2024
Monday's report on the system's "go-broke" date raises questions about how Social Security is funded.
Projections indicate that Social Security and Medicare benefits will be cut immediately after 2033 by 21%, says Will McBride, vice president of federal tax policy at the Tax Foundation.
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AARP survey shows many older adults worry about financing retirement

May 6, 2024
More than 60% of people over 50 are worried they won’t have enough money to live on in retirement, which is more than last year, according to a recent survey from AARP.
About a third of people 50 and older who are still working have saved less than $10,000 toward retirement.
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More Americans are dipping into retirement funds for emergencies

Nov 21, 2023
“Hardship withdrawals” are rising, Fidelity Investments reports, most commonly to avoid eviction or foreclosure or pay medical bills.
The most common reasons for "hardship withdrawals," Fidelity reported, were avoiding eviction or foreclosure and paying medical expenses.
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The latest push for a national retirement savings system

A new bill follows up on recent bipartisan legislation to expand access to retirement savings.
A new bill in Congress, the Retirement Savings for Americans Act, would boost retirement security for low- and moderate-income workers.
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How the U.S. retirement system stacks up against the rest of the world

A recent global ranking of 47 retirement income systems puts the U.S. right in the mediocre middle at 22nd place.
Marketplace's senior economics contributor details findings from a new report that ranks global retirement systems.
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Retirement doesn't appeal to a notary in Texas who's still enjoying work

Oct 31, 2023
"This particular job, one of the reasons I took it is because I knew that you'd never stop learning, and I find that really exciting," said Violet O'Brien, a notary in Houston.
Texas notary Violet O'Brien (right) at a meeting with a client.
Courtesy Violet O'Brien

Older people also face student loan debt burden with payments looming

Much attention is paid to younger borrowers, and rightfully so. But some 3.5 million Americans 60 and older hold substantial debt.
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For public good, not for profit.

Why labor shortages aren't going anywhere

Aug 31, 2023
With the acceleration of baby boomer retirements, multiple sectors face long-term challenges finding enough workers to meet demand.
Pandemic disruptions and baby boomer retirements have created a mismatch between labor supply and demand. That has boosted worker pay, but employers might respond by investing more in automation.
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401(k) balances are rising, but most savers still won't have enough for retirement

Aug 18, 2023
The average 401(k) balance is a tenth of what a middle-class person would need to maintain their lifestyle, one expert says.
Marketplace's senior economics contributor details findings from a new report that ranks global retirement systems.
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By 2050, demographic shifts could mean a very different global economy

Aug 10, 2023
Today, nearly a third of Japan's population is over the age of 65. Compared to how much wealthy nations' populations will age in the coming decades though, Japan "is only the tip of the iceberg" says New York Times journalist Lauren Leatherby.
Wealthy economies like those in Europe and East Asia are going to be facing a much smaller working-age population within the next few decades.
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