Thinking about recent U.S. financial history sheds a lot of light on the current financial state of America (and subsequent politics) particularly for the Boomer generation. In 2008 - 2009 the housing crisis almost collapsed the world market and wiped out 5 trillion in 401k, savings, bonds, and real estate value and no one was ever held accountable. Some of that value of course recovered, but lots of areas never did. Now that the boomers are reaching retirement age, many of them are finding that their 401k's, pensions, and savings aren't enough. Throw in years of high inflation caused by 4 years of articially low interest rates, cheap borrowing, followed up by a pandemic and it's no wonder why everyone is feeling the financial squeeze and distrust in systems. #Finance #History #HowWeGotHere #Reflections
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🔥How record inflation is affecting retirement savings 📈 Inflation has reached a level Americans have not experienced in decades. The rising cost of goods can chip away at retirement funds, and most people expect inflation to increase... 🙂 Don’t panic, it’s not all bad news! 📊 Learn more here: ⤵️ https://lnkd.in/gdQ2Yvp3 #AnnuityPros #AnnuitySpecialists #IncomeSpecialists #AnnuityProfessionals #Annuities #Annuity #BestAnnuities #Inflation #RecordInflation #InflationProtectionProducts
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Younger employees are going tax free.....Fidelity reported there were 71% more Gen Z-owned Fidelity Roth IRAs in Q1 2024 than a year earlier, according to their Q1 2024 retirement analysis. Average contributions among them rose 11% too. It’s not just that more Gen Zers are getting better-paying jobs, allowing them to save more for retirement. It’s also that social media has upped young savers’ financial savvy. And they’re seeing the stock market soar, leading to a wealth spike of 80% for Americans under 40 from early 2019 to late 2023, per the Federal Reserve.
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Dynamic retirement income plans should account for short periods of high inflation and increased spending. We use “what-if” scenarios and probability analysis. But if your retirement income plan was printed on paper 📄 , then it may be wise find out if you’re still on track 📈.
Almost half of affluent investors in the US say inflation is “killing their dreams of retirement,” according to the 2023 Natixis Global Survey of Individual Investors. Even though the rate of inflation has cooled since hitting a four-decade high in mid-2022, 84% of respondents said the surge in recent years woke them up to just how big a threat inflation is to future income and savings. Many of those surveyed, all of whom have at least $100,000 in investable assets, fear they won’t be able to work long enough to overcome the hit to their finances and their retirement plans.
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The psychological and sociological dimensions of household wealth are notably complex, and we are all subject to experiencing comparison as the thief of joy. We've all felt the squeeze of inflation recently, and watched the work-from-home moment reorganize our understanding of income, cost, and place. But reading through the Bloomberg piece, the last chart has the following title "The Rich Have Larger Retirement Accounts". In the context of the article, it could read "[Those Who Feel] Rich Have Larger Retirement Accounts", that is, one's sense of "richness" is tied to a feeling of security for the future.
'Regular rich' are feeling poorer | LinkedIn - www.linkedin.com
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Inflation Is Dashing Retirement Plans as Investors Wake to Reality of Price Surges A new report says higher costs are causing many to downsize visions of a comfortable life after their careers end. Almost half of affluent investors in the US say inflation is “killing their dreams of retirement,” according to the 2023 Natixis Global Survey of Individual Investors. Even though the rate of inflation has cooled since hitting a four-decade high in mid-2022, 84% of respondents said the surge in recent years woke them up to just how big a threat inflation is to future income and savings. Many of those surveyed, all of whom have at least $100,000 in investable assets, fear they won’t be able to work long enough to overcome the hit to their finances and their retirement plans. #business #finance #financialservices
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Retirement experts are talking about Peak 65. What is it? Next year, the U.S. will experience more Americans turning the traditional retirement age of 65. Half of these Peak 65 Americans have 100k or less in investible assets forcing them to rely on social security. Most will not be able to maintain their lifestyle or will risk outliving their money. The perfect storm of retirement insecurity combines: ⛈️ Americans living longer. ⛈️ Ongoing market volatility, high inflation, and fears of recession. ⛈️ Re-kindled fears about the future of social security. ⛈️ Fewer than half of Americans aged 61 to 65 have protected income from a pension or annuity... A financial advisor will look at what you have to help you identify future issues and fill in the gaps. Do you have a retirement plan? #timewise #investments #retirement #socialsecurity #makeaplan Full Article: https://lnkd.in/ds2FtZfN
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Wealth Management Advisor | Helping women maximize their wealth building potential | Retirement Planning
Planning for retirement is not something to be left for later. Research shows those who plan 10 years in advance accumulate triple the assets of those who start planning under 5 years from retirement. With a careful strategy, high-achieving women can establish financial security no matter their career or income levels. Book a coffee chat with me to discuss customized wealth management plans designed for your unique priorities and timelines at https://lnkd.in/gCkDHgkp . . . #retirementplanning #womenswealth
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Financial Planning Retirement Planning | Busy Professionals Families | Imagine your future | Prioritize what matters to you the most.
The Society of Actuaries predicts a 65-year-old healthy woman has a 48% chance of living past 90 and a 26% chance of surpassing 95. Whereas the Social Security Administration (SSA) predicts a now 67-year-old will live to the age of 88. These statistics make a retirement of 20 years or longer a potential reality. Are you ready for a 20, 30, or even 40-year retirement? How can you prepare for retirement at this length? - Make sure to ask questions about other income streams that complement social security benefits, retirement savings and other financial assets protection, and how to draw income from your retirement savings - Enlist a Financial Professional - Invest Strategically - Consider Extended Care Coverage - Claim Social Security Benefits Carefully - Retire With a Strategy Sources: SSA.gov, 2023 LongevityIllustrator.org, 2023
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Retirement experts are talking about Peak 65. What is it? Next year, the U.S. will experience more Americans turning the traditional retirement age of 65. Half of these Peak 65 Americans have 100k or less in investible assets forcing them to rely on social security. Most will not be able to maintain their lifestyle or will risk outliving their money. The perfect storm of retirement insecurity combines: ⛈️ Americans living longer. ⛈️ Ongoing market volatility, high inflation, and fears of recession. ⛈️ Re-kindled fears about the future of social security. ⛈️ Fewer than half of Americans aged 61 to 65 have protected income from a pension or annuity... A financial advisor will look at what you have to help you identify future issues and fill in the gaps. Do you have a retirement plan? #timewise #investments #retirement #socialsecurity #makeaplan Full Article: https://lnkd.in/ddu9v_2z
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