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Marketplace

Prof. Jonathan Gruber speaks with Marketplace reporter Matt Levin about the potential impact of raising the retirement age in the United States. Gruber suggests a new system where retirement age would vary by income. “People who are sufficiently high income, should be expected to work longer and get less in the system,” says Gruber. “People with physically demanding jobs and low income should be able to retire earlier.”

The Boston Musical Intelligencer

A celebration in Killian Hall featured recent works composed by Professor Peter Child and honored the musician as he prepares to retire after 37 years of teaching and composing at MIT, writes Boston Musical Intelligencer reporter Mark DeVoto. “All of these very different kinds of music demonstrated the protean spirit of Peter Child, showing him as one of the most interesting and heartily youthful composers anywhere in America today,” writes DeVoto. 

Plan Sponsor

Researchers from MIT have found that our current retirement savings system “largely favors higher-income and white employees,” reports Remy Samuels for Plan Sponsor. The researchers concluded that “employer matching and tax benefits are more unequally distributed than wages,” explains Samuels. “While the median Black and Hispanic earners receive 75 cents and 79 cents, respectively, for every dollar of earnings received by the median white earner, median Black and Hispanic earners receive only about 50 cents for every dollar of matching contributions that median white earners receive.”

CNBC

Researchers from the MIT AgeLab and Transamerica have found that individuals ages 40 to 59 are more likely to struggle with preparing for increased longevity, reports Lorie Konish for CNBC. “The research finds while 74% of people in their 50s say it is extremely or very important to save enough money to eventually stop working, just 57% said they expect to be able to retire,” writes Konish. “Moreover, half of people in midlife are struggling to get by financially, more than other age groups studied.”

CNBC

Joseph Coughlin, director of the MIT AgeLab, speaks with CNBC reporter Greg Iacurci about the importance of longevity planning, which entails creating a more complete framework for retirement that includes aspects such as transportation, social life and small tasks that could become difficult in old age. “Leisure is a story we wrote for retirement when it was short,” said Coughlin.” “Life is the new story we need to write when it becomes so much longer.”

Forbes

Joseph Coughlin, director of the MIT AgeLab, writes for Forbes about how a person’s zip code can impact their retirement planning. “Most of us think where we’ll live in retirement is answered by where we live now,” writes Coughlin. “That is, we choose to age in place and stay put. However, as we age, our needs, desires, health conditions, social connections, and more will change. This can often create a disconnect between what works now and what will work later on.”

MarketWatch

Writing for MarketWatch, Joseph Coughlin, director of the MIT AgeLab, discusses the importance of ensuring that retirees have access to quality healthcare. “Given demographic shifts in the medical profession as well as healthcare-industry restructuring, understanding where, and from whom, you will be accessing quality personal care that fits your unique health conditions, just when you most need it most, must now be part of an overall longevity plan that extends well beyond money,” writes Coughlin.

Forbes

MIT AgeLab director Joseph Coughlin writes for Forbes that Tom Brady’s second retirement from the NFL demonstrates how those planning for retirement “need to plan for longevity, not the one-and-done retirement we think of today.” Coughlin adds: “Planning for your retirement years means identifying the many different retirements you may have in what has been incorrectly defined as a single life stage and experience. Maybe it will be a traditional retirement, but maybe it won’t.”

Forbes

Researchers from MIT and elsewhere have found that senior citizens in the U.S. are more likely to live independently if there are more immigrants in an area, reports Stuart Anderson for Forbes. “The study found a 10-percentage point increase in the less-educated immigrant population in an area reduces by 29% the probability someone 65 years or older would live in a nursing home or other institutional setting,” writes Anderson.

Forbes

Researchers from MIT and elsewhere have found that U.S. senior citizens are more likely to live independently if there are more immigrants in an area, reports Stuart Anderson for Forbes. This study suggests that the supply of immigrant labor "affects caregiving arrangements, and allows more older Americans to age in the community,” write the researchers.

Forbes

Joseph Coughlin, director of the MIT AgeLab, writes for Forbes about the three major risk factors to consider when planning where to live in retirement. “Retirement planning can’t control the weather,” writes Coughlin. “However, critically and realistically assessing our personal resilience and how to best prepare for the possible risks of where I live, is a critical element to thinking about how I will live in older age.”

Forbes

MIT AgeLab director Joseph Coughlin writes for Forbes about why many former retirees are returning to the workforce. “These older adults are inventing something that is neither our current idea of retirement or of work,” writes Coughlin. “They are quietly creating something else — a new life stage altogether that sees the retirement age of today as a mile marker, not an exit.”

Forbes

Writing for Forbes, Joseph Coughlin, director of the MIT AgeLab, emphasizes the importance of friendships in retirement. “Comprehensive longevity planning is about living well in later life, not just financial planning,” writes Coughlin. “Without rich social connections, health, even coupled with ample wealth, might still result in unhappiness in older age. It appears that men, in particular, must work harder than most women to invest and build their social portfolio.”

Forbes

Joseph Coughlin, director of the MIT AgeLab, writes for Forbes about the impact Baby Boomer and Gen X retirement can have on the increasing labor shortage in the United States. “While some millennials can’t wait for the Boomers and older Gen X’ers to step aside in the job market, there are critical labor shortfalls in many key industries that will be sharply felt by Millennials as consumers and as the next generation of leadership in business and government,” writes Coughlin.

Financial Times

In an article for the Financial Times, Prof. Robert Merton underscores the importance of providing workers with financial security in retirement and explains Selfies (Standard-of-living indexed, forward-starting, income-only securities), a pension-like bond innovation he helped create. “More such innovative instruments from academics, politicians and others are needed if we are to ensure more people can retire with resources that can withstand inflation and provide the security they need,” Merton writes.