Only 25% expect life to be better in retirement, Nationwide found in a survey.
Data & Research
Fifty-three percent say that working with an adviser could help them meet their goals.
Only one-third are participating in their retirement plan
Furthermore, only 37% are contributing to an IRA, and 18% to a HSA, Edward Jones learned in a survey
However, this is not always the case for lower-income workers.
Concerned that workers are not saving enough, employers are hoping to improve their financial security, Willis Towers Watson found in a survey.
Only 2.4% discontinued contributions, a mere 2.8% took withdrawals and just 1.3% took hardship withdrawals, ICI data show
The book continues to show that plans with higher average account balances pay lower total fees.
Some of today’s retirees are financially fragile, but most appear able to absorb financial shocks without incurring severe hardship; this may very well change in a DC plan-dominated future, CRR researchers warn.
The study also found that 56% of retirees who work with an adviser own an annuity, compared to 28% of retirees who do not work with an adviser.
A survey of 1,000 Americans found 35.7% of respondents are going to use the money to pay down debt faster, 12.8% are going to use the money to save more for retirement, and 3.5% are going to use the money to invest in the stock market.
While they are less trusting of their advisers and providers, clients who identify as “online enthusiasts” have increased the amount of market risk they are taking.
An analysis from Pew Charitable Trusts shows a correlation between access to and participation in workplace-based retirement savings programs and more planning and saving.
While 64% of couples in their 20's discuss retirement savings, this drops to only 48% for those 40 and over.
More plans are auto enrolling at a greater than 3% default deferral rate, and 13% of plans are increasing deferrals at more than 1% annually, a PSCA survey found.
Of this group, 25% said they will increase their company match to the 401(k) plan.
A study found DB plans that used the smoothed discount rates under current law had a much lower unfunded liability than plans that did not.
It is available to workers 18 years and older who have contributed to a company-sponsored retirement plan or IRA.
Among Baby Boomers who think it is important to work with an adviser, nearly 70% said they would purchase an annuity within their individual retirement account (IRA), according to a survey by fixed income annuity provider Annexus.
Fidelity has updated its quarterly analysis of the average retirement savings balances across its book of business, and the results are once again quite encouraging.