Falling Short: The Coming Retirement Crisis and What to Do About It by Charles D. EllisFalling Short: The Coming Retirement Crisis and What to Do About It by Charles D. Ellis

Falling Short: The Coming Retirement Crisis and What to Do About It

byCharles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth

Hardcover | December 26, 2014

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The United States faces a serious retirement challenge. Many of today's workers will lack the resources to retire at traditional ages and maintain their standard of living in retirement. Solving the problem is a major challenge in today's environment in which risk and responsibility haveshifted from government and employers to individuals. For this reason, Charles D. Ellis, Alicia H. Munnell, and Andrew D. Eschtruth have written this concise guide for anyone concerned about their own - and the nation's - retirement security. Falling Short is grounded in sound research yet written in a highly accessible style. The authors provide a vivid picture of the retirement crisis in America. They offer the necessary context for understanding the nature and size of the retirement income shortfall, which is caused by both increasingincome needs-due to longer lifespans and rising health costs - and decreasing support from Social Security and employer-sponsored pension plans. The solutions are to work longer and save more by building on the existing retirement system. To work longer, individuals should plan to stay in the labor force until age 70 if possible. To save more, policymakers should shore up Social Security's long-term finances; make all 401(k) plans fullyautomatic, with workers allowed to opt out; and ensure that everyone has access to a retirement savings plan. Individuals should also recognize that their house is a source of saving, which they can tap in retirement through downsizing or a reverse mortgage.
Charles D. Ellis was for three decades managing partner of Greenwich Associates, an international business strategy consulting firm. He has taught advanced courses on investing at the business schools of both Harvard and Yale and has served on the governing boards of Yale University, Harvard Business School, Exeter, NYU Stern, and the ...
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Title:Falling Short: The Coming Retirement Crisis and What to Do About ItFormat:HardcoverDimensions:168 pages, 8.39 × 5.71 × 0.39 inPublished:December 26, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0190218894

ISBN - 13:9780190218898

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Table of Contents

1. Introduction2. How Did We Get Here?3. How Big Is the Problem?4. What Can We Do as Individuals?5. What Can We Do as a Nation?

Editorial Reviews

"America's retirement savings system has failed. Too many people are retiring with too little to live on. This excellent book nails the changes and incentives needed to restore an aging generation to fiscal health. Every voter and policymaker should read it." --Jane Bryant Quinn, author of Making the Most of Your Money NOW