New York Times: A Smarter Plan to Make Retirement Savings Last

New York TimesOn January 1st, 2016, The New York Times published an oped, "A Smarter Plan to Make Retirement Savings Last," jointly authored by myself and Blackstone President Tony James and mentioned in today's daily news updates by Daily Kos and Politico.

In the piece, James and I call for the creation of a mandatory savings plan as a necessary solution to the coming retirement crisis:

"We need a bolder plan, which we are calling the guaranteed retirement account (G.R.A.). Under our proposal, all workers and employers will have to make regular payments into a G.R.A., which builds until retirement age, then pays out a supplemental stream of income until that person and his or her beneficiary die. 

The current system - a mix of 401(k)s and individual retirement accounts (I.R.A.s) - is broken." 

INC's Top 12 Business Books

How to Retirement with Enough MoneyI’m honored that Geoffrey James at INC has included my new book “How to Retire with Enough Money and How to Know What Enough Is” as number two on his list of 12 New Business Books for the Perfect Gift.

It’s a short read--maybe even a single-sitter--that explains why experts recommend you retire with at least 8-12 times your salary saved up, and offers some best practices to help you get there. It’s also a primer on current retirement policies, and contains some suggestions for states and the federal government to help all workers to retire comfortably, like Guaranteed Retirement Accounts.

The book will be available on December 15th, but you can pre-order it today.