Golden years? The Wall Street Journal reports an annual retirement survey released today makes clear that working beyond retirement age often proves an elusive goal—and for many, it’s an unrealistic way to bail out a retirement savings deficit. “The odds are against” those who want to work for pay in retirement, says Luke Vandermillen, a vice president at Principal Financial Group, a 401(k) administrator that partners with the nonprofit Employee Benefit Research Institute to produce the annual survey. A more realistic strategy, he adds, “is simply to save more.” According to the survey, 67% of workers report that they or their spouses have saved for retirement, up from 64% in 2014. But only 22% (up from 18%) are very confident that they will have enough money to live comfortably throughout retirement. Read the full story.
Headed south: Mexico has become the most attractive place in North America to build new automobile factories, a shift that has siphoned jobs from the U.S. and Canada yet has helped keep car and truck prices in check for consumers. The Associated Press reports that over the past two years, eight automakers have opened or announced new plants or expansions in Mexico. Just last week, Toyota announced a new plant in Guanajuato to build the popular Corolla—work now done in Canada—while Ford unveiled plans for Mexican engine and transmission factories. Low labor costs and fewer tariffs are the swing factors. Read the full story.
By the numbers: Law schools across the country are facing their lowest enrollment numbers in years, causing some to slash their budgets and revamp their programs in an effort to attract students worried about finding a job in a diminished legal industry. As The Washington Post reports, nearly 46,000 people have applied so far to go to an accredited U.S. law school in the most recent admissions cycle, a figure that puts applications on track to hit just short of 53,000 total. By comparison, there were a total of 77,000 applicants in 2010 and 90,000 in 2004, according to the Law School Admission Council. Read the full story.
