Institutional Investor (July 20)
With social security on track to run dry in the U.S. by 2033, members of Generation X (born from 1965-1981) are taking an overwhelmingly self-reliant view toward retirement: 65% don’t expect any inheritance, pension or social security payments. “Gen Xers’ woes are increasingly shared by Millennials as they age. Like Millennials, Gen Xers tended to marry later and delay having children. Perhaps Gen Xers’ experiences with retirement planning—dominated by the sense that it is an insurmountable task—will serve as a proxy for how the younger and larger Millennial generation will fare.”
Tags: Children, Generation X, Inheritance, Marry, Millennials, Pension, Retirement, Social security, U.S.
Forbes (March 25)
The world’s ranks of billionaires has expanded to 1,426 and as a group they are richer than ever. “The impressive increase in the net worth of the world’s billionaires and the fact that there are 200 more of these folks than there were a year ago will have leftists everywhere decrying the growing gap between the haves and the have-nots…. But don’t blame these rich…. The overwhelming majority of these people have moved ahead through meeting the needs and wants of other people, not through inheritances or crony capitalism. Their successes didn’t come at the expense of everyone else. Free-market capitalism is not a zero-sum system.”
Tags: Billionaires, Capitalism, Free market, Have nots, Haves, Inheritance, Success
