Bloomberg Talks

Teresa Ghilarducci Talks Retirement, Pensions

May 24, 2024

Labor economist Teresa Ghilarducci discusses the shortcomings in the US retirement system, highlighting the lack of help for millions of workers to save. Wall Street is also concerned, with Larry Fink of BlackRock emphasizing the need to shore up retirement savings.

27:16

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Episode guests

Teresa Ghilarducci

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Quick takeaways

Inequality in healthy longevity challenges the idea of working longer as a retirement solution.

Shift of retirement planning burden to individuals raises concerns about job availability for older workers.

Deep dives

Challenges of the Retirement Crisis

The retirement crisis, particularly regarding the idea of working longer as a solution, faces criticism from Teresa Gillard-Duche. She argues that the assumption that people can work longer due to increased life expectancy is flawed. The inequality in healthy longevity across different groups makes it impractical for everyone to work longer. Factors such as job nature and healthcare access greatly impact individuals' ability to extend their work life.

Introduction

2min

Challenging the Misconception of Working Longer for Retirement

6min

Ensuring a Secure Retirement for All

16min

Reevaluating the 401K System and Introducing the Super Fund Concept for Retirement

2min

Debating the Role of Private Assets in Pension Funds

2min

Exploring Private Assets in Pooled Portfolios and 401k Plans

2min

Teresa Ghilarducci knows retirement. A labor economist and professor at the New School for Social Research in New York, she’s long studied the shortcomings of how the US handles preparing for citizens’ old age.
Much of the financial industry is devoted to running retirement funds—$25 trillion in traditional pensions, 401(k)-style plans and annuities and $13 trillion in individual retirement accounts. But Ghilarducci says tens of millions of workers aren’t getting the help they need to save. It’s a problem worrying some on Wall Street, too: Larry Fink, chief executive officer of BlackRock Inc., the world’s largest asset manager, devoted his latest annual chairman’s letter to the need to shore up retirement savings.

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Bloomberg Talks

Teresa Ghilarducci Talks Retirement, Pensions

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Challenges of the Retirement Crisis

Shift in Retirement Burden

Solving the Retirement Savings Crisis

Remember Everything You Learn from Podcasts