By Ben Casselman, The Morning NYT The baby boomers are (finally) retiring. That could reshape the economy for decades. Staying power The U.S. job market has staged a remarkable rebound since the start of the pandemic almost three years ago. The latest government data, released on Friday, showed that 2022 was the second-best year on record in terms of raw job growth, behind only 2021. Yet the number of people available to work remains substantially smaller as a share of the po

For many years, Americans provided for their retirement needs through three sources: employer-sponsored pension plans, Social Security income, and savings and investments accumulated through employer plans or individual accounts – the so-called “three-legged stool.” But today, that stool is shakier then it used to be. What can you do to strengthen it? To begin with, all three legs of the stool are facing challenges. Let’s consider them: Employer pensions – A generation ago, w

If you reach retirement with a significant amount of assets, you’ve done a great job of saving and investing. But now comes another challenge – making that money last. You might think that this task, as important as it is, won’t be as hard as accumulating the money in the first place. Yet, a sizable number of people have reached a different conclusion. In fact, 36% of retirees say managing money in retirement is more confusing than saving for retirement, and 56% say they wish

We all hope for long, healthy lives. But there’s a serious “side effect” of longevity – the possibility of outliving our money. How can you help prevent this? It’s useful to know the seriousness of the threat. Consider this: About 41% of all U.S. homes in which the head of the household is between 35 and 64 are projected to run short of money in retirement, according to the Employee Benefit Research Institute. While this statistic indicates a cause for concern, it certainly d

It’s been called the “Great Resignation” – the large number of Americans voluntarily leaving their jobs. If you plan to be part of it (ideally with another source of employment lined up), you’ll need to make the financial moves necessary to keep making progress toward your long-term goals. Here’s some background: After a year in which the pandemic caused so many people to lose their jobs, the economy is opening back up, but the “quit rate” – the number of jobs people have vol