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Temporal Market Subordination Of Near Term Baby Boomer Retirees
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Book Synopsis Temporal Market Subordination of Near Term Baby Boomer Retirees by : Mark Combs
Download or read book Temporal Market Subordination of Near Term Baby Boomer Retirees written by Mark Combs and published by . This book was released on 2016 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Temporal Market Subordination of Near Term Baby Boomer Retirees by : Mark Combs
Download or read book Temporal Market Subordination of Near Term Baby Boomer Retirees written by Mark Combs and published by . This book was released on 2016 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is facing a socioeconomic crisis as the Baby Boomer generation reaches retirement age without adequate savings. This problem is not unique to the U.S., as many other large countries in the developed world, particularly in Western Europe, have recognized future budgetary constraints they will face created by an elderly population that will rise dramatically from 2010 to 2030 (Rechel et al., 2013).In terms of retirement preparedness research and U.S. savings policy, the Baby Boomer generation is interesting for three reasons. One, Baby Boomers are members of a large demographic cohort represented by approximately 78 million people born in the United States between 1946 through 1964 (approximately 25 percent of the U.S. population). Two, a large percentage of the cohort can be identified by the type of retirement plan they have: defined benefit, defined contribution, or no plan at all. And finally, because Baby Boomer retirement outcomes became increasingly subordinate to the performance of financial markets throughout their lifecycle, the efficacy of their retirement in terms of satisfaction and solvency provides policy makers evidence of the deleterious effects of financialization.The concept of financialization is based on evidence that during the latter half of the 20th century financial markets and financial institutions became increasingly integral to the overall economy as the United States transitioned away from manufacturing and other types of industrial production. One of the primary examples of financialization was a change in the type of retirement plan offered by corporations to their employees. Defined benefit pension plans were common when first wave Baby Boomers entered the work force in the early 1970s - a retirement benefit managed by a corporate employer that guarantees a fixed monthly payment in retirement for the balance of the employee's life. However, when late stage Boomers entered the work force in the early 1990s, defined benefit plans were being replaced by defined contribution pension plans, the success of which was dependent on stock market performance, and characterized by a transfer of responsibility for plan management and solvency to the individual - thereby removing pension liabilities from corporate balance sheets. Defined contribution plans were promoted as superior alternatives to defined benefit plans, supported by the fact that as Boomers aged, stocks, bonds, real estate, and other risk-based assets appreciated at historic levels. The growth in these types of assets engendered a growing variety of financial products that were designed to ensure an adequately funded retirement experience.However, as the first wave of Boomers reached retirement age in 2011, 75 percent had less than $30,000 and were faced with the prospect of an underfunded retirement. The aggregate state of Baby Boomer retirement preparedness helps to illustrate a clear incongruence when one considers the appreciation of various asset types throughout their lifecycle, the growth of wealth building products available to Boomers, and the aggregate level of wealth they achieved as a cohort. It was also clear as Boomers reached retirement age in 2011 that the odds of experiencing a satisfactory retirement outcome had become increasingly subordinate in a temporal context to the appreciation of housing prices and other asset classes. The notion of increasing subordination is supported by the dramatic increase in asset price volatility experienced by first wave Boomers in 2011 during an economic crisis that wiped out in a single year 22 percent of accumulated U.S. wealth - an unprecedented level of wealth destruction that left nearly 66 percent of Boomers unprepared for retirement. Whereas the wealth destruction created by the financial crisis is well documented, the longer-term effects of asset price volatility on health and retirement satisfaction remains unexplored in the literature. Moreover, the financial crisis demonstrated that retirement outcomes can be subordinate to market performance in a temporal sense as well -- indicating that when an individual retires is just as important as how much wealth has been accumulated.It seems counterintuitive that so many Boomers would be unprepared for retirement when one considers the extent to which various assets appreciated during the Baby Boomer lifecycle, and the historically high level of home ownership that Boomers achieved. This dichotomy creates a central organizing question that informs the present study: how does retirement unpreparedness and market volatility impact the health and retirement satisfaction of Boomers?This dissertation seeks to demonstrate the interaction effects between various periods of asset price volatility, the use of various types of financial products (including home equity loans), increasing levels of market subordination, and post-retirement satisfaction and health status. These interaction effects will be examined primarily by dividing Boomers into a three saver group typology: (1) those with a defined contribution pension plan, or IRA, that are dependent on asset price appreciation for retirement capital requirements, (2) those with a defined benefit pension plan that generates guaranteed monthly retirement income and do not rely on market performance for retirement income, and (3) those without a retirement plan.The present study is based on a custom dataset comprised of multiple explanatory variables derived from the Health and Retirement Survey Database (hereafter, HRS), and historical price data for various types of assets. The HRS (Health and Retirement Study) is sponsored by the National Institute on Aging (grant number NIA U01AG009740) and is conducted by the University of Michigan. This analysis (a) examines a portion of the research literature that compares the retirement preparedness of Boomers nearing retirement age with earlier same-aged cohorts at various times, and during different types of market conditions; (b) identifies the effects of growing market subordination on retirement outcomes and health; (c) estimates the impact of these effects on composite measures that reflect retirement satisfaction, mental health, and physical health; and (d), identifies individual level characteristics that may inhibit or promote vulnerability. The findings from this research will inform policymakers seeking to improve the retirement outcomes of individuals at varying SES levels. It will also provide evidence of the impact of financialization and finance culture on health and retirement satisfaction.Some of the key findings of this study were: (1) a statistically significant increase of negative mental sentiment, and a decrease in retirement satisfaction in male HRS respondents after periods of market volatility, (2) the demonstration of reduced negative mental sentiment and higher levels of retirement satisfaction exhibited by retired individuals with monthly pension income, versus those individuals without monthly pension income, and (3) the demonstration of variation between SES groups in terms of their ability to recover lost capital after periods of market volatility.
Book Synopsis Global Trends 2040 by : National Intelligence Council
Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Book Synopsis China’s Grand Strategy by : Andrew Scobell
Download or read book China’s Grand Strategy written by Andrew Scobell and published by Rand Corporation. This book was released on 2020-07-27 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: To explore what extended competition between the United States and China might entail out to 2050, the authors of this report identified and characterized China’s grand strategy, analyzed its component national strategies (diplomacy, economics, science and technology, and military affairs), and assessed how successful China might be at implementing these over the next three decades.
Download or read book Pentagon 9/11 written by Alfred Goldberg and published by Office of the Secretary, Historical Offi. This book was released on 2007-09-05 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most comprehensive account to date of the 9/11 attack on the Pentagon and aftermath, this volume includes unprecedented details on the impact on the Pentagon building and personnel and the scope of the rescue, recovery, and caregiving effort. It features 32 pages of photographs and more than a dozen diagrams and illustrations not previously available.
Book Synopsis The Great Transformation by : Karl Polanyi
Download or read book The Great Transformation written by Karl Polanyi and published by Penguin Classics. This book was released on 2024-06-20 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'One of the most powerful books in the social sciences ever written. ... A must-read' Thomas Piketty 'The twentieth century's most prophetic critic of capitalism' Prospect Karl Polanyi's landmark 1944 work is one of the earliest and most powerful critiques of unregulated markets. Tracing the history of capitalism from the great transformation of the industrial revolution onwards, he shows that there has been nothing 'natural' about the market state. Instead of reducing human relations and our environment to mere commodities, the economy must always be embedded in civil society. Describing the 'avalanche of social dislocation' of his time, Polanyi's hugely influential work is a passionate call to protect our common humanity. 'Polanyi's vision for an alternative economy re-embedded in politics and social relations offers a refreshing alternative' Guardian 'Polanyi exposes the myth of the free market' Joseph Stiglitz With a new introduction by Gareth Dale
Book Synopsis Military Government in the Ryukyu Islands, 1945-1950 by : Arnold G. Fisch
Download or read book Military Government in the Ryukyu Islands, 1945-1950 written by Arnold G. Fisch and published by . This book was released on 1988 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: Military government on Okinawa from the first stages of planning until the transition toward a civil administration.
Book Synopsis World Development Report 2006 by : Francisco H. G. Ferreira
Download or read book World Development Report 2006 written by Francisco H. G. Ferreira and published by World Bank Publications. This book was released on 2005-01-01 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inequality of opportunity, both within and among nations, sustains extreme deprivation, results in wasted human potential and often weakens prospects for overall prosperity and economic growth, concludes the 2006 World Development Report. To correct this situation and reduce poverty more effectively, Equity and Development recommends ensuring more equitable access by the poor to health care, education, jobs, capital, and secure land rights, among others. It also calls for greater equality of access to political freedoms and political power, breaking down stereotyping and discrimination, and improving access by the poor to justice systems and infrastructure. To level the playing field among countries, and thereby reduce global inequities that hurt the poor in developing countries, the report calls for removal of trade barriers in rich countries, flexibility to allow greater in-migration of lower-skilled people from developing countries, and increased -- and more effective -- development assistance.
Book Synopsis The Alignment Problem: Machine Learning and Human Values by : Brian Christian
Download or read book The Alignment Problem: Machine Learning and Human Values written by Brian Christian and published by W. W. Norton & Company. This book was released on 2020-10-06 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: A jaw-dropping exploration of everything that goes wrong when we build AI systems and the movement to fix them. Today’s “machine-learning” systems, trained by data, are so effective that we’ve invited them to see and hear for us—and to make decisions on our behalf. But alarm bells are ringing. Recent years have seen an eruption of concern as the field of machine learning advances. When the systems we attempt to teach will not, in the end, do what we want or what we expect, ethical and potentially existential risks emerge. Researchers call this the alignment problem. Systems cull résumés until, years later, we discover that they have inherent gender biases. Algorithms decide bail and parole—and appear to assess Black and White defendants differently. We can no longer assume that our mortgage application, or even our medical tests, will be seen by human eyes. And as autonomous vehicles share our streets, we are increasingly putting our lives in their hands. The mathematical and computational models driving these changes range in complexity from something that can fit on a spreadsheet to a complex system that might credibly be called “artificial intelligence.” They are steadily replacing both human judgment and explicitly programmed software. In best-selling author Brian Christian’s riveting account, we meet the alignment problem’s “first-responders,” and learn their ambitious plan to solve it before our hands are completely off the wheel. In a masterful blend of history and on-the ground reporting, Christian traces the explosive growth in the field of machine learning and surveys its current, sprawling frontier. Readers encounter a discipline finding its legs amid exhilarating and sometimes terrifying progress. Whether they—and we—succeed or fail in solving the alignment problem will be a defining human story. The Alignment Problem offers an unflinching reckoning with humanity’s biases and blind spots, our own unstated assumptions and often contradictory goals. A dazzlingly interdisciplinary work, it takes a hard look not only at our technology but at our culture—and finds a story by turns harrowing and hopeful.
Book Synopsis Baby Boomers and Generational Conflict by : Jennie Bristow
Download or read book Baby Boomers and Generational Conflict written by Jennie Bristow and published by Springer. This book was released on 2015-05-12 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dominant cultural script is that the Baby Boomers have 'had it all', thereby depriving younger generations of the opportunity to create a life for themselves. Bristow provides a critical account of this discourse by locating the problematisation of the Baby Boomers within a wider ambivalence about the legacy of the Sixties.
Book Synopsis Converging Technologies for Improving Human Performance by : Mihail C. Roco
Download or read book Converging Technologies for Improving Human Performance written by Mihail C. Roco and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: M. C. Roco and W.S. Bainbridge In the early decades of the 21st century, concentrated efforts can unify science based on the unity of nature, thereby advancing the combination of nanotechnology, biotechnology, information technology, and new technologies based in cognitive science. With proper attention to ethical issues and societal needs, converging in human abilities, societal technologies could achieve a tremendous improvement outcomes, the nation's productivity, and the quality of life. This is a broad, cross cutting, emerging and timely opportunity of interest to individuals, society and humanity in the long term. The phrase "convergent technologies" refers to the synergistic combination of four major "NBIC" (nano-bio-info-cogno) provinces of science and technology, each of which is currently progressing at a rapid rate: (a) nanoscience and nanotechnology; (b) biotechnology and biomedicine, including genetic engineering; (c) information technology, including advanced computing and communications; (d) cognitive science, including cognitive neuroscience. Timely and Broad Opportunity. Convergence of diverse technologies is based on material unity at the nanoscale and on technology integration from that scale.
Book Synopsis Bridge Employment by : Carlos-María Alcover
Download or read book Bridge Employment written by Carlos-María Alcover and published by Routledge. This book was released on 2014-04-16 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the long-term trend toward earlier retirement slowing, and the majority of older workers remaining in employment up to and beyond statutory retirement age, it is increasingly important that we understand how to react to these changes. Bridge employment patterns and activities have changed greatly over the past decade, yet there is little information about the benefits of the various different forms this can take, both for employees and employers. This comparative international collection provides the first comprehensive summary of the literature on bridge employment, bringing together experiences from Europe, the United States, Canada, Australia and Japan. It identifies the opportunities, barriers and gaps in knowledge and practice, whilst offering recommendations on how organisations and individuals can cope with future challenges in aging and work. Written by international experts in the field, each chapter also makes substantive and contextualized suggestions for public policy and organizational decision-makers, providing them with a roadmap to implement and integrate bridge employment into policies and practices designed to prolong working life - a priority for workers, organizations and societies in the coming decades. This unique research handbook will be useful to a wide range of readers with an interest in the new concept of bridge employment and the extension of working life, and of interest to researchers and practitioners in organizational behavior, labor market analysis, human resource management, career development/counselling, occupational health, social economy and public policy administration
Book Synopsis Capital Markets, CDFIs, and Organizational Credit Risk by : Charles Tansey
Download or read book Capital Markets, CDFIs, and Organizational Credit Risk written by Charles Tansey and published by Carsey Institute. This book was released on 2010 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can Community Development Financial Institutions (CDFIs) get unlimited amounts of low cost, unsecured, short- and long-term funding from the capital markets based on their organizational credit risk? Can they get pricing, flexibility, and procedural parity with for-profit corporations of equivalent credit risk? One of the key objectives of this book is to explain the reasons why the answer to the two questions above remains "no." The other two key objectives are to show the inner workings of what has been done to date to overcome the obstacles so that we don't have to retrace the same steps and recommend additional disciplines that position CDFIs to take advantage of the mechanisms of the capital markets once the markets stabilize.
Book Synopsis Years of adventure, 1874-1920 by : Herbert Hoover
Download or read book Years of adventure, 1874-1920 written by Herbert Hoover and published by . This book was released on 1951 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Entrepreneurship by : Marc J. Dollinger
Download or read book Entrepreneurship written by Marc J. Dollinger and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: For junior/senior/graduate-level courses in Entrepreneurship, New Venture Creation, and Small Business Strategy. Based on the premise that entrepreneurship can be studied systematically, this text offers a comprehensive presentation of the best current theory and practice. It takes a resource-based point-of-view, showing how to acquire and use resources and assets for competitive advantage. FOCUS ON THE NEW ECONOMY * NEW-Use of the Internet-Integrated throughout with special treatment in Ch. 6. * Demonstrates to students how the new economy still follows many of the rigorous rules of economics, and gives them examples of business-to-business and business-to-customer firms so that they can build better business models. * NEW-2 added chapters on e-entrepreneurship-Covers value pricing; market segmentation; lock-in; protection of intellectual property; and network externalities. * Examines the new economy and the types of resources, capabilities, and strategies that are needed for success in the Internet world. * Resource-based theory-Introduced in Ch. 2 and revisited in each subsequent chapter to help tie concepts together. * Presents an overarching framework, and helps students focu
Book Synopsis Investor and Industry Perspectives on Investment Advisers and Broker-Dealers by : Angela A. Hung
Download or read book Investor and Industry Perspectives on Investment Advisers and Broker-Dealers written by Angela A. Hung and published by Rand Corporation. This book was released on 2008-03-12 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: In theory, financial professionals are relatively distinct: A broker-dealer conducts transactions in securities on behalf of itself and others; and an investment adviser provides advice to others regarding securities. Different laws regulate each type of professional, but boundaries have blurred. This report examines current business practices and investor understanding of each type.
Author :United States. President's Commission on Law Enforcement and Administration of Justice Publisher : ISBN 13 : Total Pages :368 pages Book Rating :4.F/5 ( download)
Book Synopsis The Challenge of Crime in a Free Society by : United States. President's Commission on Law Enforcement and Administration of Justice
Download or read book The Challenge of Crime in a Free Society written by United States. President's Commission on Law Enforcement and Administration of Justice and published by . This book was released on 1967 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report of the President's Commission on Law Enforcement and Administration of Justice -- established by President Lyndon Johnson on July 23, 1965 -- addresses the causes of crime and delinquency and recommends how to prevent crime and delinquency and improve law enforcement and the administration of criminal justice. In developing its findings and recommendations, the Commission held three national conferences, conducted five national surveys, held hundreds of meetings, and interviewed tens of thousands of individuals. Separate chapters of this report discuss crime in America, juvenile delinquency, the police, the courts, corrections, organized crime, narcotics and drug abuse, drunkenness offenses, gun control, science and technology, and research as an instrument for reform. Significant data were generated by the Commission's National Survey of Criminal Victims, the first of its kind conducted on such a scope. The survey found that not only do Americans experience far more crime than they report to the police, but they talk about crime and the reports of crime engender such fear among citizens that the basic quality of life of many Americans has eroded. The core conclusion of the Commission, however, is that a significant reduction in crime can be achieved if the Commission's recommendations (some 200) are implemented. The recommendations call for a cooperative attack on crime by the Federal Government, the States, the counties, the cities, civic organizations, religious institutions, business groups, and individual citizens. They propose basic changes in the operations of police, schools, prosecutors, employment agencies, defenders, social workers, prisons, housing authorities, and probation and parole officers.