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☆ Meet a boomer who thought she'd be retired by now but wants to help her millennial son: 'I'm not going to sit back and watch him not be able to go buy groceries'
▼ + stars: | 2024-02-11 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Kelley Herford, 63, thought she'd be retired by now. AdvertisementKelley Herford, 63, thought she'd be retired at the age of 62, or even 60. Instead of drawing from a strong pension and not worrying about anything — her original vision for retirement — Herford is still punching the clock. "I'm just going to have to work until I can't work any longer," she said. Advertisement"We did everything right," Herford said.

Persons: Kelley Herford, she'd, she's, Herford, —, I've, — Herford, I'm, that's, She's, it's, Ann C, Logue, aren't, boomer Organizations: Service, Pew Research Center Locations: underemployment, Herford, Charleston , South Carolina, Washington, DC

☆ Boomers Haven't Saved Enough for Retirement; Gen Z Will Have to Pay
▼ + stars: | 2024-01-10 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +11 min

According to Census Bureau data, 44% of boomers are at retirement age and millions more are soon to join them. And since younger boomers are less financially prepared for retirement than their older boomer siblings, the problem is bound to get worse. AdvertisementAs boomers continue to age out of the workforce, it's going to put strain on the healthcare system, government programs, and the economy. Not all boomers are richIt's undeniable that some boomers will enjoy a cushy retirement. The median retirement account for that age group has only $200,000 — meaning that half of 65- to 74-year-olds have even less saved up.

Persons: —, it's, Rita Choula, Stevie Kuenn, Kuenn, Choula, Caregiving, Gen Organizations: Federal, AARP, Institute, Consumer Finances, Social Security, National Council, Medicare, Pew, National Alliance, American Health Care Association, Department of Homeland Security Locations: —, Chicago, Ohio, America

☆ Millennials, Gen Z Mistakenly Bet on Inheritance From Boomer Parents
▼ + stars: | 2023-10-18 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +14 min

When she died, Grandma Sue left the most common form of inheritance, called an accidental bequest, which is simply the money left over when someone dies. The New York Times reported on a coming inheritance wealth boom in 2023, 2019, 2014, 2008, and 1999. Even for families with incomes in the 51% to 90% range of earners, the average inheritance was $46,000 — hardly life-changing money. Researchers have been talking about the coming Great Wealth Transfer for at least a quarter of a century. But the reality is that all the wealth boomers are sitting on probably won't end up fixing our collective financial problems.

Persons: Grandma Sue, Grandma Sue's, —, Xers, Gen Zers, Xer, shouldn't, Edward Wolff of, Maury Gittleman, Wolff, Gittleman, Michael Bloomberg, Warren Buffett, Larry Ellison, Bill Gates, Isabel Sawhill, It's, Penn, there's, they're, Bank of America cardholders, Joseph Smith, haven't, boomer, Ann Logue Organizations: Social Security, Medicaid, Boomers, Federal Reserve, New York Times, Edward Wolff of New York University, US Bureau of Labor Statistics, Federal, Brookings Institution, University of Pennsylvania, Penn, Medicare, Family Foundation, Bank of America, Consumer, Department of, Northwestern Mutual, IRS Locations: Northwestern, Chicago

☆ First-Time CFOs Get a Crash Course in Managing Inflation, Volatile Markets
▼ + stars: | 2023-02-23 | by ( Kristin Broughton | Anna Mutoh | ) www.wsj.com time to read: +11 min

Critical decisions made as CFO: Mr. Jepsen allowed the company to incur higher costs to expedite shipping for parts to factories and deliveries to customers. Enphase faced pressure last year from higher costs and the effects of a strong U.S. dollar. Ken Jacobson, CFO of Avnet Photo: AVNET INC.Ken Jacobson, Avnet Inc.Age: 45Career path: Mr. Jacobson, who had previously served as interim CFO from 2017 to 2018, stepped in officially as CFO in September. Mr. Jacobson says Avnet’s interest expenses on its debt have almost tripled over the past year. While there was some attrition in the beginning, it hasn’t been as bad as other companies, Mr. Jacobson said.

In the early 2010s, Mr. Mellow set out for still more distant shores, traveling to many famous surf breaks in the South Pacific. Mr. Abdul-Rashed and Mr. Danian traveled to Hawaii to connect with Mr. Mellow, their spiritual guide and Pacific expedition leader. Mr. Mellow posted an ad on Facebook and Craigslist offering $10,000 for passage to the South Pacific. Mr. Schmidt was in sync with the young seekers when it came to fear of Big Brother and vaccines, but dreading port officials brandishing nasal swabs struck even Mr. Schmidt as a little unhinged. When asked if he was at all responsible for what had happened to Mr. Danian and Mr. Abdul-Rashed, Mr. Mellow looked genuinely confused.

☆ Tyson Foods CFO Arrest Adds to Governance Challenges for Board
▼ + stars: | 2022-11-08 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +6 min

Photo: Michael Conroy/Associated PressThe Tyson family had nearly 71% of the total voting rights in the meat giant as of December 2021, according to a securities filing. It didn’t immediately respond to a request for comment on whether Mr. Tyson would make his debut to analysts and investors by taking part in the earnings call. As CFO, Mr. Tyson has an annual base salary of $650,000, according to a regulatory filing. Tyson Foods CFO John R. Tyson was arrested on public intoxication and trespassing allegations. Photo: Associated PressThe Fayetteville Police Department’s report said that the woman didn’t know Mr. Tyson and that she thought he came in through an unlocked door.

☆ Austin Stoker, star of ‘Assault on Precinct 13’ and ‘Sheba, Baby,’ dies at 92
▼ + stars: | 2022-10-11 | by ( ) www.nbcnews.com time to read: +2 min

Austin Stoker, a veteran actor who most notably starred in John Carpenter’s sophomore feature “Assault on Precinct 13” and co-starred with Pam Grier in the 1975 blaxploitation feature “Sheba, Baby,” died Friday of renal failure at Cedars-Sinai Medical Center in Los Angeles. Details regarding Stoker’s death were shared by his wife of 43 years, Robin Stoker, on her personal Facebook Monday evening. In the landmark independent thriller “Assault on Precinct 13,” Stoker starred as Lt. Ethan Bishop, a Black cop who must lead a group of criminals, civilians and office workers as a police station is besieged by a relentless army of street gang members. In addition to “Precinct 13,” Stoker also played a key role in 1973’s “Battle for the Planet of the Apes,” in which he played Macdonald, the right hand human to Roddy McDowall’s primate leader Caesar. His first TV role came in 1969 with an episode of “The Mod Squad.”Stoker is survived by his wife, Robin; children, Tiffany and Origen; and grandsons, Marcus and Austin.

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