MoneyBall, MoneyBall, MoneyBall
Allen August 28th, 2003
Excellent series of book reviews on Lewis’s new book, MoneyBall.
Archive for August, 2003
Retirement Costs
Allen August 28th, 2003
An excellent article in Knowledge@Wharton - How Much Money Will You Need for Retirement? More Than You Think details the amount of money needed by retired people.
The earlier assumptions were you would need 70 to 75% of your pre-retirement income. Many financial planners are arguing to allow for 100% of your pre-retirement income.
Furthermore, most people don’t understand how long they can possibily live. For example, the average life expectancy for men is approximately 73. How many men live beyond 73?
50%
Doh!
The article states that most people will out-live their retirement income.
OpinionJournal - Outside the Box
Allen August 27th, 2003
OpinionJournal - Outside the Box
Excellent article about the up-coming cliff of Social Security benefits. Basically it boils down to what Italy is facing now — too many retirees and not enough workers.
If we continue to see a migration of high-paying workers to low-cost geographies, the problem may come to haunt us ealier than Du Pont states. If everyone has a McJob, the amount being paid into Social Security decreases, no?