The high stated retirement confidence of physical workers reflects the fact that the sample is relatively young and majority male, according to Aegon researchers, who also say that employers with predominantly physical workers can do more to boost their true retirement readiness.
A new survey report from LIMRA Secure Retirement Institute finds four in ten black Americans suggested that they feel they don’t have enough money to work with a financial adviser.
The term “glide path” resonated with only 4% of participants surveyed by Invesco, despite being the most common term used by advisers, providers and plan sponsors when talking about target-date funds; survey data shows numerous other areas where industry jargon holds back participant understanding.
Aside from ensuring diversification, plan advisers can help refocus participants on their respective time horizons, whether it’s a Millennial looking at retirement 30 years down the line, or a Baby Boomer hoping to retire in the near term.
Findings in a Buck survey demonstrate that a failure to creatively invest in employee wellness can result in many adverse consequences for the success and sustainability of a business.
By talking about the power of compounding and emphasizing the importance of investing at the same time one is paying down debt, advisers can inspire younger clients to save more and save earlier.
Workers in Germany face a similar savings challenge as U.S. workers, according to Fidelity; while workers in the U.K. have an easier outlook, greater longevity means those in Hong Kong may need to save 20% of salary per year.
Obtaining data on participants from retirement readiness tools, recordkeepers and aggregation tools is important in order to tailor effective communications.
Plan participants in the 50 and up age group are thinking about the transition to retirement because it is on the horizon, while the younger age groups are more preoccupied with budgeting and managing debt.
According to the Alight Solutions 401(k) Index, June was a slow month for trading in defined contribution plans; when 401(k) investors made trades, they tended to favor fixed income.
In a frank conversation with PLANADVISER, Andrew Biggs points to some common misconceptions about retirement income replacement among lower income groups.
Commenting on new Social Security deficit projection figures published this week, Rob Fishbein, corporate counsel at Prudential Financial, says it’s not time to hit the panic button yet—but it is time to take very seriously the retirement income challenge individuals face.
While the conference is quickly approaching, there is still time to sign up. All the information you need is here.
As of the first quarter, more than $1.5 trillion in student loan debt was outstanding, triple the amount in 2001; with these figures in mind, Franklin Templeton researchers have highlighted the opportunities presented by 529 plans.
Take a couple that is healthy and retiring today at age 65; the probability of at least one member of this couple living to age 75 is 97%, and to 90, nearly 50%.
“Personal data can tell you so much more beyond just providing insights into individual client behaviors. You can take these streams of data, clean them up and extract valuable insights that look across the book of business to highlight trends and challenges that are not really visible on a case-by-case basis.”