Rescuing Retirement (eBook)

In Rescuing Retirement, Teresa Ghilarducci and Tony James offer a comprehensive yet simple plan to help workers save for retirement, increase retirement savings by earning higher returns, and guarantee lifelong income for everyone. It offers a practical guide to the future of secure retirement.

Teresa Ghilarducci is the Bernard L. and Irene Schwartz Professor of Economics at the New School for Social Research and the director of the Schwartz Center for Economic Policy Analysis and the New School's Retirement Equity Lab. She is the author of When I'm Sixty-Four: The Plot Against Pensions and the Plan to Save Them (2008) and How to Retire with Enough Money: And How to Know What Enough Is (2015).Tony James is President and Chief Operating Officer of Blackstone, one of the world's leading investment firms. He is a member of Blackstone's Management Committee and sits on each of the firm's investment committees. Prior to joining Blackstone he was Chairman of Global Investment Banking and Private Equity at Credit Suisse First Boston and a member of the Executive Board. He is the Chairman of the Board of Costco Wholesale Corporation and has served on a number of other corporate and non-profit Boards.

---

Retirement shouldn’t be just for the rich: “Finally, a practical plan to address Americans’ lack of adequate retirement savings.”—Michael Bloomberg   Everyone deserves to be able to retire with dignity, but this core feature of the social contract is in jeopardy. Companies have swerved away from pensions, and most of the workforce has woefully inadequate retirement savings. If we don’t act to fix this broken system, rates of impoverishment for senior citizens threaten to skyrocket, and tens of millions of Americans reaching retirement age in the coming decades will be forced to delay retirement and will experience a dramatic drop in their standard of living. In Rescuing Retirement, economist Teresa Ghilarducci and billionaire businessman Tony James offer a comprehensive yet simple plan to help workers save for retirement, increase retirement savings by earning higher returns, and guarantee lifelong income for everyone. Built on people’s own money in individual Guaranteed Retirement Accounts, the plan requires no new taxes, no more bureaucracy, and no increase in the deficit. Speaking to Americans’ growing anxiety about their ability to retire, Rescuing Retirement provides answers to anyone wanting to understand the growing movement to protect a period of life once considered a deserved time of rest and creativity and offers a practical guide to the future of secure retirement.   “Ghilarducci and James never slip into wonk-speak or jargon, and lay readers will appreciate the way the authors make sense of complex economic issues.”—Publishers Weekly