Mark J. Warshawsky is Director of Retirement Research at Towers Watson.
Dr. Warshawsky served as assistant secretary for economic policy at the U.S. Treasury Department from 2004-2006 and he has held senior level economic research positions at the Federal Reserve Board, the Internal Revenue Service and...
Roughly 10,000 Americans will retire each day for the next nineteen years. Many millions of these retirees will have financial profiles that are considered statistically average.
What, exactly, does it mean to be financially average, and what might retirement look like for the average person or household? How might the financial aspects of retirement play-out for you, your parents, or your family and friends?
Let’s take a look at some data sources to consider the average profile and how it may apply to your situation. For simplicity, I’ll give the average American retiree a name – I’ll call him William.
Who is William?
Let’s lend some definition to William by building a...
After a tough couple of years for former Federal Reserve Chairman Alan Greenspan and in an era when the phrase affordable health insurance seems like an oxymoron, it is time to provide some credit where credit is due.
Chairman Greenspan hit the nail on the head in his recent book The Age of Turbulence.
The following are Greenspan’s comments regarding entitlement spending and the healthcare system:
The bottom line in the success of all retirement systems is the availability of real resources at retirement…The financial arrangements associated with retirement facilitate the diversion of resources that make possible the consumption of goods and services after retirement, but
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It is reported that Federal Reserve Chairman Ben Bernanke owns two annuities.
One is a variable annuity and the other is a fixed annuity. Each annuity is worth between $250,000 and $500,000.
