Older Americans Have Learned to Balance Income and Spending
A survey from the Society of Actuaries suggests that if retirees are able to survive financially to age 85, concerns about finances drop significantly.
Tag: Retirement Income
Retirement Readiness Measure Added to dailyVest’s Plan Health Tool
PlanAnalytics will now utilize retirement readiness data from GuidedChoice.
Gig Economy May Replace Retirement
Sixteen percent of Americans plan on having gig economy jobs in retirement.
Americans Support Retirement Security Public Policy
Eighty percent of American workers surveyed said they would like to hear congressional candidates discuss retirement security.
Risk-Averse Investors Working Against Their Retirement Risk Fears
For advisers, 78% of respondents to a survey who use advisers indicate their advisers discuss risk tolerance, although only 50% say they discuss guaranteed lifetime income with their advisers, and only 18% have worked with their advisers to estimate retirement health care costs.
DC Plan Industry Still Falls Short on Distribution Options
Looking across today’s DC plan marketplace, researchers suggest it is still much more common to see plan designs that are tailored to drive retired or terminated participants out of the plan.
Trust in Social Security Falters in 2018 Planning & Progress Study
About one in three Americans have less than $5,000 in retirement savings, and one in five have no individual private retirement savings at all, according to a new Northwestern Mutual study.
Retirement Taxes Can Derail DC Plan Participants’ Progress
“There are strategies of rolling some amount of traditional 401(k) dollars over into a Roth IRA that are potentially advantageous, especially if you have a couple of years where your income is lower,” observes Angie O’Leary, head of wealth planning at RBC Wealth Management. “Having tax diversification available down the line is really helpful in building that paycheck in retirement.”
Confidence in Retirement Planning Correlates With Higher Retirement Income
Individuals who have an adviser are more likely to be on track to create adequate retirement income—by a wide margin, a study by Empower found.
Leveraging the Popularity of TDFs to Provide Retirement Income
In a Q&A with BlackRock Managing Director Anne Ackerley, PLANADVISER hears about emerging opportunities to deliver retirement income solutions to DC plan participants, including through TDFs.
Americans Saving an Average of 8% for Retirement
A speaker at PSCA’s 71st Annual National Conference suggests reports of Americans retirement savings inadequacy are overblown and offers data to back that up.
Health Care Expenses Are Americans’ Biggest Retirement Fear
Paying off debt is their second greatest fear, Franklin Templeton found in a survey.
Inappropriate Investments, Excessive Fees, Self-Dealing Most Common Reasons for ERISA Lawsuits
The rise in lawsuits is prompting more sponsors to turn to lower-cost index funds—and could prevent them from offering lifetime income products.
Investors Want to Discuss Risk and Retirement Income
While 80% of investors say their adviser discusses risk tolerance, only 50% say they bring up the subject of guaranteed lifetime income.
Employees Need Help Addressing Barriers to Retirement Saving
Workers who are unprepared for retirement are five times as likely as those who are prepared to cite high living expenses as a barrier to retirement planning. They are also seven times as likely to have too much debt.
Americans’ Lack of Social Security Knowledge Shows
Tina Ambrozy, president of sales and distribution at Nationwide, warns of a major disconnect between what consumers think their Social Security benefit will be—and what this amount will cover—compared to reality.
Why Are Retirees Spending Down So Slowly?
EBRI questions whether retirees are just determined to preserve their assets or whether they need more education about spending assets in retirement—both have implications for retirement plan advisers and sponsors.
Don’t Run Out of Money, Have a Retirement Income Plan
In a guest article written for PLANADVISER, Thomas Dodd, executive director of Pavilion Advisory Group Inc., compares and contrasts common retirement income strategies—including the pros and cons of each method, as viewed from the perspective of participants.
Single Female Retirees Worry the Most About Longevity Risk
Forty percent of single retirees overall do not think their savings will be enough if they reach age 90.
Most Americans Do Not Know How Much Retirement Savings Is Needed
This is particularly high among Gen Z (69%), Millennials (64%) and Gen X (66%), a survey found.