There are many experts who believe that the current paradigm for retirement plans is so flawed that we should scrap it and try something radically different. Dr. Teresa Ghilarducci is one leading voice in this area, for example. The data suggesting that we need a change are compelling. Only about 50% of workers have an … Continue reading Fixing U.S. retirement plans
Public policy and student debt
The United States has a growing problem with student debt. The total of all outstanding student loans is now above $1.5 Trillion. Politicians and others have proposed solutions to managing educational debt, but there is too little discussion of the practicalities. There is no question that we have a major problem and that many young … Continue reading Public policy and student debt
The looming public pension crisis
There are many issues that we, as a society, are tending to ignore even as they become more severe. One of these is the under-funding of pensions. Around the U.S., the remaining public pension plans have far less in assets than they need. Cook County Illinois, where Chicago is located, is the home of quite … Continue reading The looming public pension crisis
Your career may be shorter than you think
One of the ways that people rationalize the decision to delay saving for retirement is planning to retire at an older age, if at all. That's a sensible aspiration, but many people will lose their jobs in their fifties and will never again come close to their previous incomes, even if they do find full-time … Continue reading Your career may be shorter than you think
Emerging features of work
The National Bureau of Economic Research (NBER) calculated that the self-employed comprised about sixteen percent of the American workforce in 2015, up from 10% in 2005. Morgan Stanley estimates that as many as 35% of American workers are self-employed. Deloitte reports that 27% of Millennials are self employed and 54% have either started their own … Continue reading Emerging features of work
A few lessons from my 20 years in finance
As of the start of 2019, it has been twenty years since I left NASA and started to work in finance. My first job in the private sector was in the emerging field of weather derivatives for a major energy trading firm. This was the era of energy trading that is most often associated with … Continue reading A few lessons from my 20 years in finance
Key economic issues in the 2020 presidential election and beyond
As the candidates get going for 2020, there are a number of important themes that need to be discussed in this campaign and, indeed, that will remain significant for the foreseeable future. Three of these crucial concerns are: HealthcareCollege costs and debtRetirement savings These are the 'big 3' items for which people need substantial savings. … Continue reading Key economic issues in the 2020 presidential election and beyond
Geoff Considine on Finance and Economics 