Happy Friday, PLANADVISER readers! This week we take a deep dive into the psychology of retirees and their families. Often, retirement planning conversations center on dollars and cents, on markets and asset allocations—but every bit as important as the numbers is the retirement vision that clients carry. Below you’ll find insights from real workers and retirees on what they wish they’d done differently, and how they think about life before and after work ends.
Parents are worried about their independence as they age; kids are worried about their aging parents’ quality of life; parents are worried about their kids’ health and finances; and around it goes.
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Given a choice between two job offers—one with a retirement plan and one with a higher salary—pre-retirees are five times more likely to choose the retirement plan offer, demonstrating how much workers, especially older workers, value employer-sponsored retirement plans.
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When the SEC adopted the new Rule 30e-3 earlier this year, creating a new system for electronic delivery of fund information, it also established a transition disclosure period that starts in January, during which "funds that choose to implement the new delivery method for shareholder reports provide prominent disclosures in prospectuses and certain other shareholder documents that will notify investors of the upcoming change in transmission format.”