- Author: Ellen E. Schultz
- Publisher: Penguin, 256 pages
We’ve all heard of the “retirement savings crisis.” Many Americans aren't socking away nearly as much money as they'll need to retire. But how did this predicament come about? Pulitzer-Prize-winning journalist Ellen E. Schultz minces no words: It was “no demographic accident,” she writes. “It was manufactured by an alliance of two groups: top executives and their facilitators in the retirement industry—benefits consultants, insurance companies, and banks” who helped to engineer the rapid decline of workers’ pensions and benefits. Schultz explores how some companies have slashed benefits to boost their earnings, turned pension plans into cash, and used pension assets to finance downsizings. The C-suite drama is interwoven with powerful stories of real retirees struggling to cope with unexpected benefit cuts. Retirement Heist is essential reading not only for pension participants but also anyone seeking to understand how Americans’ retirement security evaporated.
Visit the Kiplinger Bookshelf
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
-
Stock Market Today: Dow Pops 703 Points on Cooler InflationA benign reading from the Consumer Price Index report assuaged market fears about the path of borrowing costs.
-
CPI Report Keeps the Fed on Track: What the Experts Are Saying About InflationCPI Disinflation in key areas of consumer prices should help the Federal Reserve stick to its policy path of gradual cuts to interest rates.
-
Five Books About Retirement to Prepare You for Your Golden YearsThese books about retirement will help prepare you for your next stage through fiction and nonfiction. What's more, they are great reads!
-
'A Random Walk Down Wall Street' at 50Interview 'A Random Walk Down Wall Street': 50 years on Burton Malkiel, author of the investing classic, remains a champion of index investing.
-
Hillbilly Elegybusiness Author: J.D.
-
The Big Shortbusiness Publisher: Norton, W.
-
The Undoing Project: A Friendship That Changed Our MindsInvestor Psychology Traditional economic theory holds that people act in their best interests, particularly where money is concerned.
-
Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical RightMarkets Have a massive fortune, political vision, and no idea how to pull the two together? Jane Mayer’s Dark Money may be the summer read for you.
-
Chain of Title: How Three Ordinary Americans Uncovered Wall Street's Great Foreclosure FraudMarkets Their names are Lisa Epstein, Michael Redman, and Lynn Szymoniak.
-
Recession ProofMarkets So what makes a recession a recession, anyway? This book explains all in plain language, giving readers an understanding of what recessions are, why they happen, and the signs that the next one is on the way.
