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Ashley Madison CEO steps down
Amgen gets FDA OK for cholesterol treatment
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Icahn discloses stake in Freeport McMoRan
Buzz Aldrin wants to colonize Mars in 25 years
Atlantic hurricanes lose sway over oil and gas

Apple Watch debut stronger than thought: IDC
Apple to host Sept. 9 product event
Apple closes in on Fitbit in wearables

Craft beer acquisition by Duvel — stay small, stay beautiful
Firestone is latest U.S. brewer to join the Duvel family

Instead of flavored vodka, flavored sake?

Never use a market order when stocks are selling off
Schwab site hit by outages in busy trade stretch
Lack of fear means this correction isn’t finished

Most imposing stock ‘wall of worry’ in 5 years

John Bogle sees promise in market pullbacks
A strategy to make money in this crazy market
Record $29.5 billion yanked from stock funds

Roubini: Better early warning system is needed

Why you should worry and be happy that stocks aren’t a sure bet
Both worry, be happy that stocks aren’t a sure bet

A sign for Moody's rating agency is displayed at the company headquarters in New York, September 18, 2012.  AFP PHOTO/Emmanuel Dunand        (Photo credit should read EMMANUEL DUNAND/AFP/GettyImages)
ADP debt-funded buyback raises Moody’s ire

Democratic leaders frustrated by Clinton’s handling of email issue
More frustration with Clinton on email issue
Poll shows Biden running stronger than Clinton
Trump: I’m OK with raising taxes on myself

Poland looks next to turn against the EU

China wins the Battle of Mountain Pass
China just undermined the U.S. Defense Department

China may be in worse shape than most of us think
What should China do to fix its economy?
Analysts dismiss fears of a China hard landing
‘Loch Ness monster’ and China's mystery rally

These are the best jobs for millennials
These are the best jobs for millennials


How momentum investing could go out of style
Momentum investing could be going out of style

Tesla Model S scores 103 on 100-point scale
Tesla Model S scores 103 on 100-point scale
Elon Musk retweets slow-driving Tesla owner
Colbert should ask Elon Musk, Kalanick this
$400,000 supercar goes up in flames

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Markets »

67.14MDow Volume:
Avg Vol: 111.57M
Unchanged
180
Decliners
2116
Advancers
4209
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 16,621 -34 0.20%
Nasdaq
/quotes/zigman/12633936/realtime 4,821 +8 0.16%
S&P 500
/quotes/zigman/3870025/realtime 1,985 -2 0.11%
GlobalDow
/quotes/zigman/629063/realtime 2,369 +9 0.36%
Gold
/quotes/zigman/662444/delayed 1,134 +11 0.98%
Oil
/quotes/zigman/2331095/delayed 45.27 +2.71 6.37%
FTSE 100
/quotes/zigman/3173262/delayed 6,248 +56 0.90%
DAX
/quotes/zigman/2380246/delayed 10,299 -17 0.17%
CAC 40
/quotes/zigman/3173214/delayed 4,675 +17 0.36%
FTSE MIB
/quotes/zigman/1482176/delayed 21,994 -208 0.93%
IBEX 35
/quotes/zigman/2759620/delayed 10,353 +63 0.61%
Stoxx 600
/quotes/zigman/2380150/delayed 363 +1 0.28%
Asia Dow
/quotes/zigman/6959860/realtime 2,798 +45 1.64%
Nikkei 225
/quotes/zigman/5986735/delayed 19,136 +562 3.03%
Hang Seng
/quotes/zigman/2622475/delayed 21,612 -226 1.04%
Shanghai
/quotes/zigman/1859015/delayed 3,232 +149 4.82%
Sensex
/quotes/zigman/1652085/delayed 26,392 +161 0.61%
Singapore
/quotes/zigman/1709939/delayed 2,956 +11 0.36%
Euro
/quotes/zigman/16008136/realtime/sampled 1.12 -0.01 0.57%
Yen
/quotes/zigman/16008150/realtime/sampled 121.35 +0.32 0.26%
Pound
/quotes/zigman/16008140/realtime/sampled 1.54 0.00 0.06%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.72 +0.00 0.03%
DXY Index
/quotes/zigman/1652083/delayed 96.09 +0.33 0.34%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.46 +0.20 0.22%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.18 0.00 0.08%
German 10y
/quotes/zigman/15866409/realtime 0.75 +0.00 0.17%
Italy 10yr
/quotes/zigman/15866497/realtime 1.91 -0.02 0.80%
Spain 10yr
/quotes/zigman/15866444/realtime 2.06 +0.01 0.26%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.85 -0.02 0.96%
Japan 10yr
/quotes/zigman/15866525/realtime 0.38 -0.01 2.48%
Crude Oil
/quotes/zigman/2331095/delayed 45 +3 6.37%
Gold
/quotes/zigman/662444/delayed 1,134 +11 0.98%
Corn
/quotes/zigman/7599553/delayed 374 -1 0.20%
DJIA F
/quotes/zigman/38649152/delayed 16,576 -74 0.44%
S&P F
/quotes/zigman/30356461/delayed 1,980 -10 0.49%
Silver
/quotes/zigman/3134148/delayed 15 +0 0.78%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 90.72 0.99 1.10%
AAPL /quotes/zigman/68270/composite 113.00 0.08 0.07%
GOOG /quotes/zigman/30194416/composite 627.98 -9.63 -1.51%
BAC /quotes/zigman/190927/composite 16.32 -0.12 -0.73%
C /quotes/zigman/5065548/composite 53.12 -0.32 -0.60%
F /quotes/zigman/264304/composite 13.73 0.17 1.24%
T /quotes/zigman/398198/composite 33.26 -0.19 -0.55%
BP /quotes/zigman/247026/composite 33.14 0.11 0.33%
GE /quotes/zigman/227468/composite 25.10 0.09 0.36%
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
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 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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Encore
A blog about living in and planning for retirement

The Old Get Richer, the Young Get Poorer

The old have gotten wealthier, while the young have become poorer. That’s the conclusion of “The Old Prosper Relative to the Young,” a recent report by economists and researchers at the Pew Research Center.

In documenting a rising age gap with regard to economic well-being, the authors compare households headed by adults over age 65 to households headed by adults younger than 35. They examine data over time–particularly from 1967, 1984, 2005, and 2009-2010. (The comparison between 2005 and 2009-2010 illustrates the impact of the Great Recession.)

Here are some of their conclusions:

•        From 1984 to 2009, the median net worth of older households rose 42%. For younger households, it declined by 68%.

•        The gap in wealth between older and younger households widened over time. In 1984, the median net worth of older households was $108,000 higher than that of younger households. But by 2009, the median net worth of older households was $166,832 higher than that of younger households, the “largest (gap) in the 25 years that the government has been collecting this data.” (All figures are expressed in 2010 dollars.)

•        In younger households, median adjusted annual income rose 27%, from $38,555 in 1967 to $49,145 in 2010. (Again, the figures are in 2010 dollars.) At the same time, income for older households rose 109%, from $20,804 to $43,401.

•        From 2005 to 2009, median net worth for older households declined 6%, versus a 55% decline for younger households.  Meanwhile, the adjusted median income of the oldest households rose 8%, while the youngest households experienced a 4% drop.

Housing plays a big role in the trend, the authors say. Older Americans have been “the beneficiaries of good timing, in the form of the long run-up in home values that enabled them to accumulate wealth via home equity,” the report says. While older homeowners purchased “long ago, at “pre-bubble” prices” many younger adults “bought as the bubble was inflating,” and now owe more on their mortgages than their homes are worth. (They have also been saddled with higher college loan debt than their same-aged peers of past decades, the report says.)

There are labor market trends at work, too. Due in part to the recession, today’s young have experienced a “delayed entry into the labor market.” But older adults are staying in the job market longer. Currently, 16% of those ages 65 and older are employed, versus 10% in 1985.

With Social Security as a steady income source, older Americans have experienced less poverty and earnings volatility than their younger counterparts.

Still, the report documents hopeful signs for younger Americans: A growing number, the authors note, are college graduates, “and college education has been found to confer a significant financial payoff over the course of a lifetime.”

Comments

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

Comments (5 of 64)

View all Comments »
    • I’m extremely inspired with your writing skills and also with the structure in your weblog. Is that this a paid theme or did you modify it yourself? Anyway keep up the excellent high quality writing, it is rare to look a nice blog like this one these days..

    • The young have a long climb ahead. Local finances, especially in the northeast, tag young families with fees (trash, bus, school) that senior are exempted from, regardless of means. Historically these were basic community services paid through local taxes, now targeted costs on young families. 20-30′s will face higher structural unemployment if slow to no growth becomes the norm, thus starting work later or being underemployed. This defers their ability to start saving for their future. In the public sector the talk of any pension reform is that of not impacting current retirees, but a reduced benefit for future retirees. In the private sector, the only talk of social security reform is to not impact current retirees but to raise the age and reduce benefits for future retirees. In today’s lexicon, is this fair? No, it is not. At least we will have saddled that group with about $20 Trillion in debt, so maybe that will take their attention away from the other points.

    • To me, you can sum this up with two point. Young people likely bought more houses in the 2000s, with little/no money down, therefore have taken the bulk of the hit of the housing market. Second, young people seemingly have much less discipline to delay gratification, therefore spend all their disposable income and then some on the latest gadgets.

    • Lots of people seem to think that in the grand scheme of things an iPhone can make or break a person.

      It can’t.
      If I forgo all my gadgets (iPhone – mum got me for my birthday, laptop – need it for university since I am doing compsci, desktop – ditto) and if I had paid for them all myself and not got 2 of them as gifts I would be up… about £2500.

      Now since I have gone into my (0% till I graduate) overdraft on bills and food and medication (long after I bought my desktop I might add) if I subtract that from the amount I have £1500. What exactly could I do with that?

      I could put it in a savings account and accrue interest at a lower rate than inflation and watch it slowly disappear.
      I could put it in the risky stocks and bonds market, pay £50 a year banking fees for using the stock services, make 4% or so return – £60, and assuming the market only goes up and never goes down (it doesn’t) make an awesome £10 a year on it! That means in £10 years I’d have made £100.. wait… what was the rate of inflation again… about …4% wasn’t it… ah shit.

      It is policy that makes spending not saving occur. The policy of ultra low interest rates and deliberate inflation. Don’t blame young people for acting in their rational self interest in that situation. The economic situation makes it bad to save and good to spend (and I will have you know my iPhone and laptop both have good resale value).

      Furthermore, all those cushy jobs you people enjoy once you are old… do you know where the money to pay the salaries on those jobs come from? It comes from people spending money on goods and services.

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 Close in:

need to know
Ashley Madison CEO steps down
Amgen gets FDA OK for cholesterol treatment
Student dies after shooting at Savannah State
Icahn discloses stake in Freeport McMoRan
Buzz Aldrin wants to colonize Mars in 25 years
Atlantic hurricanes lose sway over oil and gas

Apple Watch debut stronger than thought: IDC
Apple to host Sept. 9 product event
Apple closes in on Fitbit in wearables

Craft beer acquisition by Duvel — stay small, stay beautiful
Firestone is latest U.S. brewer to join the Duvel family

Instead of flavored vodka, flavored sake?

Never use a market order when stocks are selling off
Schwab site hit by outages in busy trade stretch
Lack of fear means this correction isn’t finished

Most imposing stock ‘wall of worry’ in 5 years

John Bogle sees promise in market pullbacks
A strategy to make money in this crazy market
Record $29.5 billion yanked from stock funds

Roubini: Better early warning system is needed

Why you should worry and be happy that stocks aren’t a sure bet
Both worry, be happy that stocks aren’t a sure bet

A sign for Moody's rating agency is displayed at the company headquarters in New York, September 18, 2012.  AFP PHOTO/Emmanuel Dunand        (Photo credit should read EMMANUEL DUNAND/AFP/GettyImages)
ADP debt-funded buyback raises Moody’s ire

Democratic leaders frustrated by Clinton’s handling of email issue
More frustration with Clinton on email issue
Poll shows Biden running stronger than Clinton
Trump: I’m OK with raising taxes on myself

Poland looks next to turn against the EU

China wins the Battle of Mountain Pass
China just undermined the U.S. Defense Department

China may be in worse shape than most of us think
What should China do to fix its economy?
Analysts dismiss fears of a China hard landing
‘Loch Ness monster’ and China's mystery rally

These are the best jobs for millennials
These are the best jobs for millennials


How momentum investing could go out of style
Momentum investing could be going out of style

Tesla Model S scores 103 on 100-point scale
Tesla Model S scores 103 on 100-point scale
Elon Musk retweets slow-driving Tesla owner
Colbert should ask Elon Musk, Kalanick this
$400,000 supercar goes up in flames

How to cope when you’re suddenly uninsured

/conga/frontpage.html 353591

Markets »

67.16MDow Volume:
Avg Vol: 111.57M
Unchanged
183
Decliners
2130
Advancers
4209
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 16,621 -34 0.20%
Nasdaq
/quotes/zigman/12633936/realtime 4,820 +7 0.15%
S&P 500
/quotes/zigman/3870025/realtime 1,985 -2 0.12%
GlobalDow
/quotes/zigman/629063/realtime 2,369 +8 0.36%
Gold
/quotes/zigman/662444/delayed 1,134 +11 0.98%
Oil
/quotes/zigman/2331095/delayed 45.28 +2.72 6.39%
FTSE 100
/quotes/zigman/3173262/delayed 6,248 +56 0.90%
DAX
/quotes/zigman/2380246/delayed 10,299 -17 0.17%
CAC 40
/quotes/zigman/3173214/delayed 4,675 +17 0.36%
FTSE MIB
/quotes/zigman/1482176/delayed 21,994 -208 0.93%
IBEX 35
/quotes/zigman/2759620/delayed 10,353 +63 0.61%
Stoxx 600
/quotes/zigman/2380150/delayed 363 +1 0.28%
Asia Dow
/quotes/zigman/6959860/realtime 2,798 +45 1.64%
Nikkei 225
/quotes/zigman/5986735/delayed 19,136 +562 3.03%
Hang Seng
/quotes/zigman/2622475/delayed 21,612 -226 1.04%
Shanghai
/quotes/zigman/1859015/delayed 3,232 +149 4.82%
Sensex
/quotes/zigman/1652085/delayed 26,392 +161 0.61%
Singapore
/quotes/zigman/1709939/delayed 2,956 +11 0.36%
Euro
/quotes/zigman/16008136/realtime/sampled 1.12 -0.01 0.56%
Yen
/quotes/zigman/16008150/realtime/sampled 121.34 +0.31 0.26%
Pound
/quotes/zigman/16008140/realtime/sampled 1.54 0.00 0.06%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.72 +0.00 0.01%
DXY Index
/quotes/zigman/1652083/delayed 96.10 +0.33 0.35%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.46 +0.20 0.22%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.19 +0.00 0.00%
German 10y
/quotes/zigman/15866409/realtime 0.75 +0.00 0.17%
Italy 10yr
/quotes/zigman/15866497/realtime 1.91 -0.02 0.80%
Spain 10yr
/quotes/zigman/15866444/realtime 2.06 +0.01 0.26%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.85 -0.02 0.96%
Japan 10yr
/quotes/zigman/15866525/realtime 0.38 -0.01 2.48%
Crude Oil
/quotes/zigman/2331095/delayed 45 +3 6.39%
Gold
/quotes/zigman/662444/delayed 1,134 +11 0.98%
Corn
/quotes/zigman/7599553/delayed 374 -1 0.20%
DJIA F
/quotes/zigman/38649152/delayed 16,575 -75 0.45%
S&P F
/quotes/zigman/30356461/delayed 1,979 -10 0.52%
Silver
/quotes/zigman/3134148/delayed 15 +0 0.78%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 90.78 1.05 1.17%
AAPL /quotes/zigman/68270/composite 112.90 -0.02 -0.02%
GOOG /quotes/zigman/30194416/composite 627.79 -9.82 -1.54%
BAC /quotes/zigman/190927/composite 16.31 -0.13 -0.79%
C /quotes/zigman/5065548/composite 53.12 -0.32 -0.60%
F /quotes/zigman/264304/composite 13.72 0.16 1.18%
T /quotes/zigman/398198/composite 33.26 -0.18 -0.54%
BP /quotes/zigman/247026/composite 33.14 0.11 0.33%
GE /quotes/zigman/227468/composite 25.09 0.08 0.32%
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
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 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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