Insights Blog
Older Households' Financial Fragility
The slow return to normalcy after the Covid-19 pandemic has brought back a perennial risk to older workers’ wellbeing: financial fragility.
Economist Willi Semmler, director of SCEPA’s Economics of Climate Change project, gave a presentation in Sorbonne, Paris, as part of the Financial Regulation Lab (LabEx ReFi).
ReLab's new report, "40% of Older Workers and Their Spouses Will Experience Downward Mobility in Retirement," finds that inadequate retirement accounts will cause 8.5 million middle-class older workers and their spouses to be downwardly mobile in retirement, falling into poverty or near poverty in their old age.
President Trump‘s record-long State of the Union address offered two short points relevant to ordinary people‘s finances, including retirement accounts and after-tax income.
SCEPA Director and economist Teresa Ghilarducci and Blackstone President Hamilton “Tony” James published the second edition of their co-authored book, Rescuing Retirement: A Plan to Guarantee Retirement Security for All Americans, from Colombia University Press.
For a woman, being an economist in academia is not unlike any other workplace.
Willi Semmler, who leads SCEPA's Economics of Climate Change project, and a diverse team of researchers received a competitive grant from the Australian Research Council (ARC).
Despite Trump's efforts to rollback federal retirement reform, 22 states introduced reform since his inauguration.
Retirement systems in rich nations have shifted away from pay-as-you-go social insurance programs (such as Social Security) and towards financially-based, advance–funded retirement accounts (such as 401(k)-type accounts).
