March 2020 Short Bits

WHAT RETIREMENT?

According to a survey by The Harris Poll for TD Ameritrade, most Americans age 40 and older intend to work past "retirement.” The poll found that 92% of respondents age 40-49 planned to work in retirement, while 66% of respondents in their 60s and 52% of those in their 70s said the same. Staying sharp, avoiding boredom, financial need and social interaction were the most common reasons cited for returning to or staying in the workforce.

CHARITY CHECK

Companies that rate the cost-effectiveness of charities can be of immense help to charitable donors, and now they have a new player on the block. ImpactMatters is a new ratings organization whose website breaks down the most cost-effective charitable institutions by categories addressing the climate, poverty, education and more. The ratings use a star system, with five stars ranking the highest.

PRODUCTIVITY UP

The U.S. Department of Labor’s Bureau of Labor Statistics confirms what businesses have known for some time now: From the third quarter of 2009 to the third quarter of 2019, nonfarm business sector labor productivity increased 11.1%, an increase in output of 32.4% and a 19.2% bump in hours worked. Real hourly compensation also increased by 8%.

GREY MONEY

The Joint Center for Housing Studies of Harvard University found that the number of older Americans facing housing cost burdens reached an all-time high of 10 million. Homeownership rates are lower and debt rates are higher for those surveyed age 50 to 64 compared to earlier generations. The median income for the lowest earners was $14,400, lower than the 2000 level of $17,100.