New York Times (May 6)
When Warren Buffet unexpectedly announced his retirement at the end of 2025, “people in the crowd, many of whom were in tears, rose from their seats in a standing ovation for a singular figure in the business world.” The Oracle of Omaha, as he is known, “is often described as a symbol of American capitalism. In truth, he is an outlier. He is more the conscience of capitalism, willing to speak uncomfortable truths about the system’s ills while others remained silent.” A humble billionaire, Buffet “always comes across as a gentleman, and in an age of distrust he has become a trusted figure.” No doubt, another “of his biggest accomplishments” was “using his annual Berkshire letters and marathon Q&A sessions with shareholders to educate generations about business, investing and life itself.”
Tags: Berkshire, Buffet, Capitalism, Conscience, Educate, Gentleman, Humble, Oracle of Omaha, Outlier, Ovation, Q&A, Retirement, Shareholders, Tears, Trusted, U.S., Uncomfortable truths
Chicago Tribune (September 26)
“The gap between the haves and have-nots in the United States grew last year to its highest level in more than 50 years of tracking income inequality.” Demographics is one of the drivers. “On one side, at the peak of their earnings, are baby boomers who are nearing retirement, if they haven’t already retired. On the other side are millennials and Gen Zers, who are in the early stages of their work life and have lower salaries.”
Tags: Baby boomers, Demographics, Earnings, Gap, Gen Zers, Income inequality, Millennials, Retirement, Salaries, U.S., Work
Institutional Investor (March 1)
New York City “is aiming for full divestment of coal, oil, and gas from its $189 billion retirement system–but could get sued in the process” if such a move is deemed contrary to fiduciary duty. If they successfully divest the roughly $5 billion in assets linked to fossil fuel, however, “New York’s pension funds would be the first major U.S. retirement system to rid itself of fossil fuels.”
Tags: Coal, Divestment, Fiduciary duty, Fossil fuel, Gas, New York, Oil, Pension fund, Retirement
Washington Post (May 11)
“Older people today seem as healthy as people who were several years younger a few decades ago. So why shouldn’t they work the same way, too?” In the U.S., the eligibility age for full social security benefits is scheduled to increase to 67 over the next decade, but a recent study suggests eligibility could reasonably be moved even higher “to somewhere between 68 and 70.”
Tags: Age, Benefits, Eligibility, Healthy, Old, Retirement, Social security, U.S., Work, Young
Institutional Investor (January 10)
“Even among those who are years from retirement, concerns about being able to retire are more widespread than worries about job loss, health care, or inequality.” Yet, during the past decade, “officials in Washington have done little except wring their hands and make speeches” on retirement insecurity. There are now indications that, however, they may finally more to address “this most widespread form of economic insecurity.”
Tags: Health care, Inequality, Job loss, Officials, Retirement, Retirement insecurity, U.S., Worries
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.
The Economist (April 11)
“Radical measures are needed” in Japan. These “will have to include getting elderly Japanese to pay more for their medical care. A health system that keeps too many people in hospital beds for too long needs to be overhauled. And the retirement age needs to be increased further.”
Tags: Elderly, Health system, Hospital, Japan, Medical care, Overhaul, Radical, Retirement
The Economist (June 21)
“Since time immemorial, Chinese children have been expected to take care of their aged parents—but rising incomes and shifting norms are changing things.” Retirement homes, some quite stylish, may prove the wave of the future in China.
Tags: Children, China, Elderly, Future, Incomes, Norms, Parents, Retirement, Retirement homes
Wall Street Journal (March 11)
Japan may be at the leading edge, but population graying is a truly global phenomenon requiring new approaches. “As the over-60 population grows much faster than the younger working-age cohorts, while life expectancy increases, the 20th-century model of work and retirement becomes increasingly unsuitable for economic growth. The key will be finding new solutions to engage older Americans in the workforce.”
Tags: Economic growth, Engage, Graying, Japan, Life expectancy, Over-60, Population, Retirement, Solutions, U.S., Unsuitable, Work, Workforce, Working-age
New York Times (February 5, 2014)
Recent estimates credit the Affordable Care Act with unchaining 2.5 million people from their jobs over the ensuing decade. “The new law will free people, young and old, to pursue careers or retirement without having to worry about health coverage. Workers can seek positions they are most qualified for and will no longer need to feel locked into a job they don’t like because they need insurance for themselves or their families.”
Tags: Affordable Care Act, Careers, Coverage, Families, Health, Insurance, Jobs, Positions, Qualified, Retirement, Workers
