Retirees lost a couple of effective but underutilized Social Security claiming strategies in this week’s Bipartisan Budget Act. The changes, which have people scrambling for answers, could mean some opportunity for retirement plan advisers to bring their expertise to plan sponsors. See Editor’s Choice for related stories.
Experts from Fidelity and Nationwide Retirement Institute weigh in on the changes in Social Security claiming strategies, and outline some resources for advisers, as well as ways to support their plan sponsor clients and participants.
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Challenged by lower account balances and longevity, women crave advice on Social Security—and those who work with an adviser say their payment is as they expected, or even higher.
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About two-thirds surveyed believe they will need less than $1 million in today’s dollars in order to retire, or aren’t sure how much they will need.
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At the end of the day there just aren’t all that many people working on retirement plans, so it is only natural that firms will compete for and trade talent.
Fifty-two percent think they will be able to retire at their ideal retirement age, and 52% say they either somewhat or strongly agree that their savings will last throughout their lifetime.
