For those wondering about the true strength of the US economy, look no further than Americans’ post-“retirement” plans revealed in the latest Gallup survey, according to why only 25% of Americans plan to stop working past retirement age. Meanwhile, nearly two in three employed U.S. adults, or 63%, responded they plan to work past retirement age on a part-time basis, while an additional 11% said they will work full time once they hit retirement age.
These results come from Gallup’s Economy and Personal Finance survey, conducted April 5-9. As in 2011 and 2013, the two previous times Gallup asked this question, working adults are most likely to say they intend to “continue working, and work part time.” As one would expect, over the same time period, the percentage who say they plan to “stop working altogether” has ticked up. However, in a surprising twist, of those who say they will continue working, but only full time, the majority plan to do so because they want to, not because they have to. Continue reading “74% of Americans Plan to Work Past Retirement Age”
We’ve noted several times in recent months that, despite the ‘economic recovery’, a record number of young ‘adults’ are moving back home with mom and dad after college and staying there well into their 30’s.
Now, as confirmed by a recent study conducted by Fidelity and the Stanford Center on Longevity, the added stress of caring for all those ‘adult’ children is putting a severe emotional and financial strain on Baby Boomers with over 75% saying their adult children are cutting into their budgets and over 50% saying they’re generally less happy about life. Per Fidelity: Continue reading ““Boomerang Kids”: Adult Millennials Returning Home Is Crushing Baby Boomer Budgets”
The government’s official scorecard for the U.S. economy in the first quarter pointed to the weakest growth in three years, but the slowdown appeared tied to temporary effects that are likely to give way a rebound in the coming months.
Gross domestic product increased at a meager 0.7% annual pace in the first three months of the year, down from 2.1% and 3.5% in the back half of 2016. Economists polled by MarketWatch had forecast a 0.9% increase. Continue reading “U.S. economy bogs down in first quarter with slowest growth in 3 years, GDP shows”