Retirement Saving Crisis is Worse Than We Thought by Gary D. Halbert
FORECASTS & TRENDS E-LETTER
by Gary D. Halbert
November 11, 2014
IN THIS ISSUE:
Since its founding by Will Thomson and Chip Russell in June 2016, the Massif Capital Real Asset Strategy has outperformed all of its real asset benchmarks. Since its inception, the long/short equity fund has returned 9% per annum net, compared to 6% for the Bloomberg Commodity Index, 3% for the 3 MSCI USA Infrastructure index Read More
1. October Unemployment Rate Fell to 5.8%
2. Employment For Young People Highest in Six Years
3. Retirement Saving Not Happening For a Third of Middle–Class
4. Just How Little Have They Saved?
5. The Power of the 401(k) Savings Plan
6. The Retirement Saving Big Picture
Each year Wells Fargo & Company conducts a survey of middle-class Americans of various ages to see how they are faring with saving for retirement. The results of the 2014 survey were just made public late last month. I will summarize them for you below. Let me warn you in advance – they are not pretty!
But first, let’s take a look at last Friday’s better than expected October unemployment report. The headline unemployment rate fell to 5.8%, the lowest level in almost six years. So far in 2014, new jobs are being added at the fastest pace since 1999. Best of all, the employment rate for young people ages 25-34 rose to the highest level since late 2008.
To all of our brave men and women w