Tag: manage money

African woman showing her dish

Introduction In the past year, as the economy has weakened and unemployment has risen, the labor force participation rate for older workers (aged 55-64) has jumped by 2.0 percentage points – an increase unprecedented in post-war U.S. economic history. Recessions typically see very slow or even negative growth in labor force participation. A likely factor…

elderly man inserting credit card to ATM

Introduction Over the past two decades, the private pension system in the United States has shifted from defined benefit to defined contribution plans, and the fastest growing defined contribution plans are 401(k)s. The defining characteristic of 401(k) plans is that employees, rather than employers, bear the investment risk. Currently, many employees hold a significant portion…