There's been resistance to extending the FRA because of the potentially disparate impact on minorities and lower income workers ( who don't live as long) Your point on longevity that looks past early mortality issues makes me wonder - are those racial longevity gaps persistent for adults and retirees?
And let's not forget that when someone like Larry Fink says we need to "rethink" something, he's got a marketing agenda (he did this with ESG, tokenization before)
Regarding "textbook economic theory" suggesting younger Americans should not be saving for retirement, I agree ... but they should be saving in their 401k or 403b for other purposes ... along the way to and throughout retirement. The 401k is most effective if it is structured to be a lifetime financial instrument - that is not linked to a specific employer. See: https://401kspecialistmag.com/most-young-people-should-not-save-for-retirement-in-their-401k/
Loved the article. Very well reasoned. Exactly the kind of objective, and critical commentary we ought to be seeing from "journalists" in big-media.
There's been resistance to extending the FRA because of the potentially disparate impact on minorities and lower income workers ( who don't live as long) Your point on longevity that looks past early mortality issues makes me wonder - are those racial longevity gaps persistent for adults and retirees?
FYI, looked at CDC study
https://www.cdc.gov/nchs/data/hus/2019/004-508.pdf
Life Expectancy @ 65
Year White Black Hispanic
1950 12.8 12.9
2006 17.3 15.2 18.5
2017 18.1 16.4 19.7
I like the way YOU're thinking.
And let's not forget that when someone like Larry Fink says we need to "rethink" something, he's got a marketing agenda (he did this with ESG, tokenization before)
another outstanding article.
Regarding "textbook economic theory" suggesting younger Americans should not be saving for retirement, I agree ... but they should be saving in their 401k or 403b for other purposes ... along the way to and throughout retirement. The 401k is most effective if it is structured to be a lifetime financial instrument - that is not linked to a specific employer. See: https://401kspecialistmag.com/most-young-people-should-not-save-for-retirement-in-their-401k/