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☆ Why millennials' retirement outlook may be worse than older generations
▼ + stars: | 2024-02-09 | by ( Greg Iacurci | ) www.cnbc.com time to read: +9 min

'Deteriorating' retirement outlookAbout 38% of early millennials (those born in the 1980s) will have "inadequate" retirement income at age 70, according to projections from a 2022 Urban Institute study. watch now"We do see the retirement outlook deteriorating for future generations," including millennials, said Richard Johnson, director of Urban's retirement policy program and co-author of the report. Millennials' student loans dent their net worthA 2021 paper by the Center for Retirement Research at Boston College had similar findings. Meanwhile, the last major Social Security overhaul, in 1983, gradually raised the program's "full retirement age" to 67 years old. That will make it easier to save for retirement, according to a Brookings Institution report.

Persons: Jamie Grill, Craig Copeland, Gen X, Xers, Richard Johnson, Johnson, aren't, Millennials, Gen Xers, CRR, X, EBRI, Anqi Chen, Copeland, millennials, they're, William Gale, Hilary Gelfond, Jason Fichtner, there's, Sean Deviney, Deviney Organizations: Social Security, Research Institute, Urban, Center for Retirement Research, Boston College, Research, Transamerica Center, Retirement Studies, Finance, IRA, Pensions, Social, Center, Budget, Brookings Institution, Vanguard Group Locations: U.S, Fort Lauderdale , Florida

☆ Opinion: What the Sports Illustrated AI debacle is telling us
▼ + stars: | 2023-11-29 | by ( Opinion Will Leitch | ) edition.cnn.com time to read: +9 min

(Full disclosure: I briefly hosted a television show for Sports Illustrated a few years back that no one watched.) But the only difference between those sports sites using AI writers and other sports sites using AI writers is that people actually used to enjoy Sports Illustrated and Deadspin; Yahoo, for example, has been contracted with a company called “Automated Insights” to write AI sport stories for years. Another game I like to play in my downtime is NBA2K, the wildly popular NBA video game. But in the game, Aldridge is not real; he’s just some pixels synced to audio the real Aldridge recorded years ago. Sports writers insist, as we fight back against a creeping AI world, that we can always do our jobs better than a robot can.

Persons: Will Leitch, ”, it’s, I’m, —, William Faulkner, Robert Frost, John Steinbeck, AdVon, Richard Johnson, Emma Baccellieri, Pat Forde, Tom Verducci, you’ve, It’s, Fox, Charissa Thompson, I’ve, Hall, Hall of Famer Andrea Kremer, Thompson, “, can’t, Curt Gowdy, David Aldridge, Aldridge, Video Aldridge, Julius Randle, Randle, … I’d Organizations: New York Magazine, CNN, Park Baseball, MLB, Sports, The Arena Group, The, Group, Sports Illustrated, Yahoo, Amazon, Hall of Famer, New York Times, NBA, Video Knicks

☆ Why working longer is a bad retirement plan
▼ + stars: | 2023-10-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Daniel Gonzalez | Moment | Getty ImagesWorking longer is among the best ways to ensure you don't outlive your retirement savings. When it comes to retirement age, there's a big gap in expectations versus reality. But the actual retirement age was 62, on average. watch nowThose who target a retirement age past 61 end up making it about half as far as expected, he found. Social Security's full retirement age has gradually been pushed back, to as late as age 67 for anyone born in 1960 or after.

Persons: Daniel Gonzalez, Gallup, Blanchett, Richard Johnson, —, EBRI, Johnson Organizations: Gallup, Urban Institute . Pensions, Urban Institute

☆ If Social Security benefits were cut, here's how much more you'd need to save for retirement
▼ + stars: | 2023-10-03 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

In order not to run out of money in retirement, she'd need to save $375 a month in her workplace 401(k) plan — if the Social Security program remains fully in place. "The old-age poverty rate would soar if Social Security benefits were cut," said Richard Johnson, a senior fellow at the Urban Institute. The future of Social Securitywatch nowThe Social Security program has been weakened by a rise in people retiring and the fact that people are living longer. As a result, without any action from lawmakers, the trust fund that supports Social Security benefits for retirees is estimated to run dry in 2033. Workers would continue to pay Social Security payroll taxes, and those collected funds would still be payable to retirees.

Persons: Araya Doheny, Douglas Boneparth, Boneparth, Clifford, Cornell, Biden, Richard Johnson Organizations: Michell, Steel, Getty, Social, Security, CNBC, Workers, Clifford Cornell, Social Security, Finance, IRS, Center, Budget, Urban Institute, Social Security Administration Locations: Cypress , California, New York

☆ Foot Locker Searches For a New Finance Chief
▼ + stars: | 2022-11-29 | by ( Kristin Broughton | ) www.wsj.com time to read: +3 min

Foot Locker Inc. is searching for a new finance chief to succeed Andrew Page, who is stepping down from the shoe-store chain as part of a reshuffling of its senior ranks. He was previously chief accounting officer and controller at Advance Auto Parts Inc., a Raleigh, N.C.-based auto parts retailer. He will step down as chief financial officer of Foot Locker early next year. Photo: The Wall Street Journal Foot Locker is working with an executive recruiting firm to identify a successor, the company said. Also, Foot Locker promoted Rosalind Reeves, its vice president of talent, diversity and organization capability, to chief human resources officer, effective Dec. 1.

☆ U.S. says China resisting nuclear talks after Xi vow to boost deterrent
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

The Pentagon says China is undergoing a major expansion of its nuclear forces and is moving toward having 1,000 nuclear warheads by 2030. But Beijing has long resisted arms control talks with Washington, arguing that the United States already has a much larger arsenal. But Xi signaled during a Communist Party Congress in October that China would strengthen its strategic deterrent, a term often used to describe nuclear weapons. We're saying, let's talk about putting some guardrails into the relationship so that we don't have unnecessary crises," he said. Reporting by Michael Martina and David Brunnstrom; editing by Richard PullinOur Standards: The Thomson Reuters Trust Principles.

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