Falling Short

The Coming Retirement Crisis and What to Do About It

Nonfiction, Social & Cultural Studies, Political Science, Politics, Social Security, Business & Finance, Personal Finance, Retirement Planning, Economics, Economic Conditions
Cover of the book Falling Short by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth, Oxford University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth ISBN: 9780190218911
Publisher: Oxford University Press Publication: December 1, 2014
Imprint: Oxford University Press Language: English
Author: Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
ISBN: 9780190218911
Publisher: Oxford University Press
Publication: December 1, 2014
Imprint: Oxford University Press
Language: English

The United States faces a serious retirement challenge. Many of today's workers will lack the resources to retire at traditional ages and maintain their standard of living in retirement. Solving the problem is a major challenge in today's environment in which risk and responsibility have shifted from government and employers to individuals. For this reason, Charles D. Ellis, Alicia H. Munnell, and Andrew D. Eschtruth have written this concise guide for anyone concerned about their own - and the nation's - retirement security. Falling Short is grounded in sound research yet written in a highly accessible style. The authors provide a vivid picture of the retirement crisis in America. They offer the necessary context for understanding the nature and size of the retirement income shortfall, which is caused by both increasing income needs-due to longer lifespans and rising health costs-and decreasing support from Social Security and employer-sponsored pension plans. The solutions are to work longer and save more by building on the existing retirement system. To work longer, individuals should plan to stay in the labor force until age 70 if possible. To save more, policymakers should shore up Social Security's long-term finances; make all 401(k) plans fully automatic, with workers allowed to opt out; and ensure that everyone has access to a retirement savings plan. Individuals should also recognize that their house is a source of saving, which they can tap in retirement through downsizing or a reverse mortgage.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The United States faces a serious retirement challenge. Many of today's workers will lack the resources to retire at traditional ages and maintain their standard of living in retirement. Solving the problem is a major challenge in today's environment in which risk and responsibility have shifted from government and employers to individuals. For this reason, Charles D. Ellis, Alicia H. Munnell, and Andrew D. Eschtruth have written this concise guide for anyone concerned about their own - and the nation's - retirement security. Falling Short is grounded in sound research yet written in a highly accessible style. The authors provide a vivid picture of the retirement crisis in America. They offer the necessary context for understanding the nature and size of the retirement income shortfall, which is caused by both increasing income needs-due to longer lifespans and rising health costs-and decreasing support from Social Security and employer-sponsored pension plans. The solutions are to work longer and save more by building on the existing retirement system. To work longer, individuals should plan to stay in the labor force until age 70 if possible. To save more, policymakers should shore up Social Security's long-term finances; make all 401(k) plans fully automatic, with workers allowed to opt out; and ensure that everyone has access to a retirement savings plan. Individuals should also recognize that their house is a source of saving, which they can tap in retirement through downsizing or a reverse mortgage.

More books from Oxford University Press

Cover of the book Jihadism Transformed by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book Viral Fitness by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book Unequal Foundations by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book New York Cafe - With Audio Starter Level Oxford Bookworms Library by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book A Village Goes Mobile by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book Landmarks of American Women's History by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book Makers of Contemporary Islam by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book Learning and the Infant Mind by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book Emergency Ethics by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book Evaluating Civic Youth Work by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book The Next Christendom by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book Monopolies in America by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book Liberalism and the Welfare State by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book American Possessions by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
Cover of the book In Gods We Trust by Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy