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New York Markets After Hours

need to know
FireEye earnings beat expectations
AIG swings to fourth-quarter operating loss
Groupon shares rally 12% on earnings beat
Pandora posts wider loss, misses targets
CBS shares tick lower after hours
Gold soars $50 to highest finish in a year
Crude-oil futures close near a 13-year low
U.S. stock-market plunge paced by financials
Treasury yields at lowest level since 2012

Boeing has long history of accounting probes
Boeing on course for record loss

Is this the week central banks lost market credibility?

10 stocks leading the market’s decline Thursday
The stocks you need to fight off bear-market flu
Think like Warren Buffett — buy what’s ugly

Buy Twitter stock? Only if you trust Dorsey and company
Twitter message: Its critics were right
Twitter adds new timeline feature
Jeff Reeves: Is Twitter’s worst really over?

U.S. cities with the most and least vacant housing
  4 hidden hazards that lurk in your home
Location Scouts: Insider intel from top markets

Valeant’s M&A accounting cushions its income

Tesla predicts rosy 2016 —can Musk deliver?
Tesla reports loss, but says profit in sight
Tesla’s Model 3: 5 things we now know

Most popular new iOS emoji? Eye roll, please ...

Yellen in Senate: Stock swoon not Fed fault

Jobless claims data show no sign of a layoff spike

The greatest bull market of all time probably isn’t what you think it is
Greatest bull market ever likely isn’t what you think

Chuck Jaffe: It’s time for these trendy mutual funds and ETFs to put up or shut up
Time for trendy ETFs, funds to put up or shut up

Rio Tinto swings to loss, drops dividend policy
Total narrows loss on fewer write-downs
Glencore copper, zinc output falls on cutbacks


Jeb Bush says Trump would be worse than Obama

FBI has closed in on Oregon refuge holdouts

North Korea reportedly has executed top general

India set to outpace China in demand for oil
If you’re bullish on oil, these stocks are buys

Which of Europe’s Piigs might fly?
Which of Europe’s PIIGs might be set to fly?

The 10 toughest investment decisions

Bass issues warning on China’s foreign cash reserves
What’s holding back the world economy?
China's FX reserves drop $99.47 bln


Will falling oil prices bankrupt Saudis, Russians?
Cheap oil may make OPEC dominant again
As oil revenue drops, Gulf states ponder taxes
Will oil get so cheap, it won’t pay to extract it?

Hearing loss now hits 1 in 3 Americans over 65
Hearing loss now hits 1 of every 3 Americans over 65

REIT bonus targets at heart of Brixmor scandal

Even private-equity firms are buying back shares

Has the idea of college financial aid totally backfired?
Michael Moore: Imagine life without student debt
6 ways Obama would make college affordable


/conga/frontpage.html 367760

Markets »

172.07MDow Volume:
Avg Vol: 131.80M
Unchanged
147
Decliners
4753
Advancers
1612
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 15,660 -255 1.60%
Nasdaq
/quotes/zigman/12633936/realtime 4,267 -17 0.39%
S&P 500
/quotes/zigman/3870025/realtime 1,829 -23 1.23%
GlobalDow
/quotes/zigman/629063/realtime 2,047 -33 1.56%
Gold
/quotes/zigman/33772884/delayed 1,247 +52 4.39%
Oil
/quotes/zigman/2260836/delayed 27.30 -0.15 0.55%
FTSE 100
/quotes/zigman/3173262/delayed 5,537 -135 2.39%
DAX
/quotes/zigman/2380246/delayed 8,753 -264 2.93%
CAC 40
/quotes/zigman/3173214/delayed 3,897 -164 4.05%
FTSE MIB
/quotes/zigman/1482176/delayed 15,773 -941 5.63%
IBEX 35
/quotes/zigman/2759620/delayed 7,746 -397 4.88%
Stoxx 600
/quotes/zigman/2380150/delayed 304 -12 3.68%
Asia Dow
/quotes/zigman/6959860/realtime 2,436 -17 0.71%
Nikkei 225
/quotes/zigman/5986735/delayed 15,713 -372 2.31%
Hang Seng
/quotes/zigman/2622475/delayed 18,546 -742 3.85%
Shanghai
/quotes/zigman/1859015/delayed 2,763 -18 0.63%
Sensex
/quotes/zigman/1652085/delayed 22,952 -807 3.40%
Singapore
/quotes/zigman/1709939/delayed 2,538 -44 1.70%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.04%
Yen
/quotes/zigman/16008150/realtime/sampled 112.45 +0.02 0.02%
Pound
/quotes/zigman/16008140/realtime/sampled 1.45 +0.00 0.01%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 +0.00 0.03%
DXY Index
/quotes/zigman/1652083/delayed 95.57 -0.25 0.26%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.76 +0.00 0.00%
U.S. 10yr
/quotes/zigman/15866666/realtime 1.66 -0.05 2.88%
German 10y
/quotes/zigman/15866409/realtime 0.19 -0.05 21.45%
Italy 10yr
/quotes/zigman/15866497/realtime 1.72 +0.07 4.42%
Spain 10yr
/quotes/zigman/15866444/realtime 1.77 +0.05 2.99%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.30 -0.11 7.92%
Japan 10yr
/quotes/zigman/15866525/realtime 0.01 0.00 0.00%
Crude Oil
/quotes/zigman/2260836/delayed 27 0 0.55%
Gold
/quotes/zigman/33772884/delayed 1,247 +52 4.39%
Corn
/quotes/zigman/25518691/delayed 361 +1 0.21%
DJIA F
/quotes/zigman/48241424/delayed 15,627 -239 1.51%
S&P F
/quotes/zigman/43106711/delayed 1,826 -21 1.15%
Silver
/quotes/zigman/32655632/delayed 16 +1 3.36%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 101.91 0.91 0.90%
AAPL /quotes/zigman/68270/composite 93.70 -0.57 -0.60%
GOOG /quotes/zigman/59527964/composite 683.11 -1.01 -0.15%
BAC /quotes/zigman/190927/composite 11.16 -0.82 -6.84%
C /quotes/zigman/5065548/composite 34.98 -2.43 -6.50%
F /quotes/zigman/264304/composite 11.17 -0.17 -1.50%
T /quotes/zigman/398198/composite 36.21 -0.22 -0.60%
BP /quotes/zigman/247026/composite 27.64 -0.40 -1.43%
GE /quotes/zigman/227468/composite 27.45 -0.85 -3.00%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
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Rates »

5 yr CD
1.3%
2 yr CD
0.7%
1 yr CD
0.5%
MMA $10K+
0.2%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.96% 11.96% 11.62%
Business 13.12% 13.12% 12.85%
Student 13.42% 13.42% 13.14%
Balance Transfer 14.35% 14.35% 14.12%
Airline 15.17% 15.17% 15.10%
Cash Back 15.20% 15.26% 15.27%
Reward 15.25% 15.28% 15.14%
Instant Approval 18.02% 18.21% 18.00%
Bad Credit 22.56% 22.88% 22.73%
Source:CreditCards.com

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Trending Tickers
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  • /quotes/zigman/5419837/composite P+8.21%
  • /quotes/zigman/21587200/composite FEYE-0.48%
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SmartMoney Blogs

Encore
A blog about living in and planning for retirement

Has the Economic Well-Being of the Elderly Really Improved?

iStockphoto

Alicia Munnell, the director of the Center for Retirement Research at Boston College, is a weekly contributor to “Encore.”

These are difficult times. Everyone is on edge and would like to find someone to blame for their deteriorated economic circumstances. Commentators should keep this in mind when they release studies that pit one group against another. The new Pew Foundation study “The Rising Age Gap in Economic Well Being” does just that. It implies that, over the period 1984-2009, householders 65 and over grew their net worth at the expense of householders under 35. Two important points: First, the difference is primarily explained by housing, rather than student loans or some other factor with immediate policy implications. Second, reporting the assets of the elderly without considering their liabilities gives a misleading impression of their well being.

The headline is that between 1984 and 2009 the median net worth of householders 65 and over increased by 42% ($170,494/$120,457), while that of householders 35 and under declined by 68% ($3,662/$11,521 in 1984 to in 2009). It’s a clearly shocking discrepancy. But take out housing, and both groups show a decline – a 33% loss for older households versus a 66% loss for the under 35 group. Essentially, older households bought their houses a long time ago – way before the bubble. Younger households purchased their homes as house prices were rising rapidly and suffered major losses when the bubble burst. The result is one of timing rather than systematic policies that favor one group over the other.

The second issue is whether the elderly are really better off in 2009 than they were in 1984. Yes, their assets have increased, but their liabilities – their responsibility for replacing their pre-retirement earnings during their retirement years – have as well. That responsibility has become significantly more expensive. First, since 1985, life expectancy at age 65 for men has risen from 15.4 years to 18.6 years – a 21% increase. Second, in 1984 many retirees had a defined benefit pension to provide a lifetime guaranteed income. By 2009, the share of older workers with this kind of protection had declined to about 25%. Third, out-of-pocket health care expenses have soared. As a result, older households have to pay higher costs for many more years out of their own pocket. It is not at all clear that older people today are in better shape than they were in 1984.

Society today faces enormous challenges. Real wages have barely budged since 1979. The degree of income and wealth inequality is at levels not seen since the 1920s. Unemployment remains about 9% two years after the recession officially ended. Housing prices continue to drop. Those are problems that need to be addressed. And the answers are not going to be found by comparing the wealth of the old to the young.

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (3 of 3)

View all Comments »
    • yourself. Quote from CompEng: “What are the other options? Be resnipsoble for your own security and violently tear down any organization that acquires significant power?”And we return once again to the false dichotomy, now supported by pure pragmatism. Invoking Friedman will not make it ethical. Explain how giving monopoly power over all things to people who by your own words are just as flawed as everybody else, and based on our political selection process are probably more flawed than the average person, provides for my security and protects me from violence. I’ll invoke my own historic figure: Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.It’s been great debating with you, but I’m afraid debate isn’t my strong suit. I don’t generally have the patience, and you strike me as somebody who is a collectivist at heart. Consequently, there is little likelihood either of us will convince the other. Perhaps we’ll meet again (hopefully not on opposite sides of the barricades).

    • Thank you for showing the truth behind the numbers of the previous article.

About Encore

  • Encore examines the changing nature of retirement, from new rules and guidelines for financial security to the shifting identities and priorities of today’s retirees. The blog also explores news that affects retirement, from the Wall Street Journal Digital Network and around the web. Lead bloggers are reporter Catey Hill and senior editor Jeremy Olshan. Other contributors include The Wall Street Journal’s retirement columnists Glenn Ruffenach and Anne Tergesen; the Director for the Center for Retirement Research at Boston College, Alicia Munnell; and the Director of Research for Pinnacle Advisory Group, Michael Kitces, CFP.

MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

New York Markets After Hours

need to know
FireEye earnings beat expectations
AIG swings to fourth-quarter operating loss
Groupon shares rally 12% on earnings beat
Pandora posts wider loss, misses targets
CBS shares tick lower after hours
Gold soars $50 to highest finish in a year
Crude-oil futures close near a 13-year low
U.S. stock-market plunge paced by financials
Treasury yields at lowest level since 2012

Boeing has long history of accounting probes
Boeing on course for record loss

Is this the week central banks lost market credibility?

10 stocks leading the market’s decline Thursday
The stocks you need to fight off bear-market flu
Think like Warren Buffett — buy what’s ugly

Buy Twitter stock? Only if you trust Dorsey and company
Twitter message: Its critics were right
Twitter adds new timeline feature
Jeff Reeves: Is Twitter’s worst really over?

U.S. cities with the most and least vacant housing
  4 hidden hazards that lurk in your home
Location Scouts: Insider intel from top markets

Valeant’s M&A accounting cushions its income

Tesla predicts rosy 2016 —can Musk deliver?
Tesla reports loss, but says profit in sight
Tesla’s Model 3: 5 things we now know

Most popular new iOS emoji? Eye roll, please ...

Yellen in Senate: Stock swoon not Fed fault

Jobless claims data show no sign of a layoff spike

The greatest bull market of all time probably isn’t what you think it is
Greatest bull market ever likely isn’t what you think

Chuck Jaffe: It’s time for these trendy mutual funds and ETFs to put up or shut up
Time for trendy ETFs, funds to put up or shut up

Rio Tinto swings to loss, drops dividend policy
Total narrows loss on fewer write-downs
Glencore copper, zinc output falls on cutbacks


Jeb Bush says Trump would be worse than Obama

FBI has closed in on Oregon refuge holdouts

North Korea reportedly has executed top general

India set to outpace China in demand for oil
If you’re bullish on oil, these stocks are buys

Which of Europe’s Piigs might fly?
Which of Europe’s PIIGs might be set to fly?

The 10 toughest investment decisions

Bass issues warning on China’s foreign cash reserves
What’s holding back the world economy?
China's FX reserves drop $99.47 bln


Will falling oil prices bankrupt Saudis, Russians?
Cheap oil may make OPEC dominant again
As oil revenue drops, Gulf states ponder taxes
Will oil get so cheap, it won’t pay to extract it?

Hearing loss now hits 1 in 3 Americans over 65
Hearing loss now hits 1 of every 3 Americans over 65

REIT bonus targets at heart of Brixmor scandal

Even private-equity firms are buying back shares

Has the idea of college financial aid totally backfired?
Michael Moore: Imagine life without student debt
6 ways Obama would make college affordable


/conga/frontpage.html 367760

Markets »

172.07MDow Volume:
Avg Vol: 131.80M
Unchanged
147
Decliners
4753
Advancers
1612
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 15,660 -255 1.60%
Nasdaq
/quotes/zigman/12633936/realtime 4,267 -17 0.39%
S&P 500
/quotes/zigman/3870025/realtime 1,829 -23 1.23%
GlobalDow
/quotes/zigman/629063/realtime 2,047 -33 1.56%
Gold
/quotes/zigman/33772884/delayed 1,247 +52 4.39%
Oil
/quotes/zigman/2260836/delayed 27.30 -0.15 0.55%
FTSE 100
/quotes/zigman/3173262/delayed 5,537 -135 2.39%
DAX
/quotes/zigman/2380246/delayed 8,753 -264 2.93%
CAC 40
/quotes/zigman/3173214/delayed 3,897 -164 4.05%
FTSE MIB
/quotes/zigman/1482176/delayed 15,773 -941 5.63%
IBEX 35
/quotes/zigman/2759620/delayed 7,746 -397 4.88%
Stoxx 600
/quotes/zigman/2380150/delayed 304 -12 3.68%
Asia Dow
/quotes/zigman/6959860/realtime 2,436 -17 0.71%
Nikkei 225
/quotes/zigman/5986735/delayed 15,713 -372 2.31%
Hang Seng
/quotes/zigman/2622475/delayed 18,546 -742 3.85%
Shanghai
/quotes/zigman/1859015/delayed 2,763 -18 0.63%
Sensex
/quotes/zigman/1652085/delayed 22,952 -807 3.40%
Singapore
/quotes/zigman/1709939/delayed 2,538 -44 1.70%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.05%
Yen
/quotes/zigman/16008150/realtime/sampled 112.45 +0.02 0.02%
Pound
/quotes/zigman/16008140/realtime/sampled 1.45 +0.00 0.01%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 +0.00 0.01%
DXY Index
/quotes/zigman/1652083/delayed 95.57 -0.26 0.27%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.76 +0.00 0.00%
U.S. 10yr
/quotes/zigman/15866666/realtime 1.66 -0.05 2.88%
German 10y
/quotes/zigman/15866409/realtime 0.19 -0.05 21.45%
Italy 10yr
/quotes/zigman/15866497/realtime 1.72 +0.07 4.42%
Spain 10yr
/quotes/zigman/15866444/realtime 1.77 +0.05 2.99%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.30 -0.11 7.92%
Japan 10yr
/quotes/zigman/15866525/realtime 0.01 0.00 0.00%
Crude Oil
/quotes/zigman/2260836/delayed 27 0 0.55%
Gold
/quotes/zigman/33772884/delayed 1,247 +52 4.39%
Corn
/quotes/zigman/25518691/delayed 361 +1 0.21%
DJIA F
/quotes/zigman/48241424/delayed 15,627 -239 1.51%
S&P F
/quotes/zigman/43106711/delayed 1,826 -21 1.15%
Silver
/quotes/zigman/32655632/delayed 16 +1 3.36%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 101.91 0.91 0.90%
AAPL /quotes/zigman/68270/composite 93.70 -0.57 -0.60%
GOOG /quotes/zigman/59527964/composite 683.11 -1.01 -0.15%
BAC /quotes/zigman/190927/composite 11.16 -0.82 -6.84%
C /quotes/zigman/5065548/composite 34.98 -2.43 -6.50%
F /quotes/zigman/264304/composite 11.17 -0.17 -1.50%
T /quotes/zigman/398198/composite 36.21 -0.22 -0.60%
BP /quotes/zigman/247026/composite 27.64 -0.40 -1.43%
GE /quotes/zigman/227468/composite 27.45 -0.85 -3.00%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
Please log in to view your watchlist
MarketWatch Portfolio

World News from MarketWatch

Rates »

5 yr CD
1.3%
2 yr CD
0.7%
1 yr CD
0.5%
MMA $10K+
0.2%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.96% 11.96% 11.62%
Business 13.12% 13.12% 12.85%
Student 13.42% 13.42% 13.14%
Balance Transfer 14.35% 14.35% 14.12%
Airline 15.17% 15.17% 15.10%
Cash Back 15.20% 15.26% 15.27%
Reward 15.25% 15.28% 15.14%
Instant Approval 18.02% 18.21% 18.00%
Bad Credit 22.56% 22.88% 22.73%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/413712/composite USO+0.41%
  • /quotes/zigman/110164/composite ATVI+1.23%
  • /quotes/zigman/5419837/composite P+8.21%
  • /quotes/zigman/21587200/composite FEYE-0.48%
  • /quotes/zigman/220026/composite BA-6.81%
X
Powered by StockTwits
Link to MarketWatch's Slice.

As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

MarketWatch will continue to provide the same important news and information you rely on every day. And, as a MarketWatch user, you will be able to enjoy:

  • Personalized news and quote email alerts
  • Editorial e-newsletters about personal finance, mutual funds and market-specific coverage
  • Premium newsletters by our market experts
  • Games, such as Virtual Stock Exchange and Beat the Darts
  • Free WSJ.com registration