As economies around the world rebound from the COVID-19 pandemic, the two main superpowers are racing ahead. DW gives a snapshot of who benefits most from record-high global GDP worth $94 trillion.
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Latest Retirement Research: Track Spending, Invest in Health
Not being financially literate can be dangerous to your wealth in retirement.
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Mar 3, 2021 8:00 AM EST
What advice then do experts have for older Americans with respect to their personal finances, retirement accounts, etc. What actions should they take and/or avoid?
A bit of background: Poor financial capability can erode well-being in later life, according to Understanding Debt in the Older Population, research co-authored by Annamaria Lusardi, a professor at the George Washington University School of Business and Olivia Mitchell, a professor the Wharton School of the University of Pennsylvania.
According to that research, older Americans, ages 51-61 carry debt due to student loans and unpaid medical bills; and having children also contributes to carrying debt close to retirement.
A Wharton expert gives five financial takeaways for people who have made New Year’s resolutions.
As we all try to put 2020 in our rearview mirror and begin the annual ritual of trying to keep New Year’s resolutions, from exercising more, to eating balanced meals, and making time for hobbies and recreation; Wharton School expert Olivia S. Mitchell, director of the Boettner Center for Pensions and Retirement Research, suggests including improving finances in those resolutions.
Despite the global pandemic, a divisive presidential election, and months of national racial unrest, Mitchell still endorses the most common financial resolutions for the New Year.
December 11 links: Expensive publishing, DAGs & linking errors, waning research on China and where is overstudied, and more…
· A review paper in Science on the links between poverty, depression and anxiety by Ridley, Rao, Schilbach and Patel – including a round-up of experimental impacts of poverty reduction projects on mental health, and of mental health improvement interventions on labor supply.
· In the Royal Economic Society newsletter, Dina Pomeranz offers an introduction to #Econtwitter
· At VoxDev, Suresh de Mel and co-authors summarize their experiment in Sri Lanka that allowed people to make deposits to their savings account from their mobile phone – which found very little use and no impact on savings. Documenting these null results is particularly important for areas such as the digital economy and mobile money which get so much hype.