Tag: retirement
Social Security’s old-age pensions were designed to replace more of the earnings of retired low-wage workers than of higher-wage workers. But how is this progressivity affected by the federal income taxes paid by all workers and retirees? A study by economists at the Center for Retirement Research, which sponsors this blog, analyzed this complex issu…
Our 401(k) retirement system requires most workers to save for the future. But it’s difficult to reach this increasingly important goal, because our emotions – overconfidence, pleasure, fear of loss – get in the way. “We believe our own nonsense,” is how Daylian Cane, a professor in the Yale School of Management, explains financial behavior…
