“Opportunity” Costs
When I was 16, my family moved from a small town in Southern Illinois to the suburbs of Chicago. It was a move that was to change my life in ways I could not have even imagined at the time. Had that move not occurred, I’d likely have wound up at a different university, might well have chosen a different major, and almost certainly would never have stumbled across the college internship doing pension accountings that has, many years later, brought me here today. As you might expect, those possibilities were not obvious to me at the time of that move. But looking back, the reality is that that move greatly expanded the life choices—and thus, the opportunities—available to me at a particularly critical point in my life. At EBRI’s Research Committee meeting this past week, Research Director Jack VanDerhei shared the updated findings of the EBRI Retirement Readiness Rating (RRR), which will be published later this month. The Retirement Readiness Rat...