However, only 56% of people have calculated how much income they need to retire, MassMutual learned in a survey.
Tag: retirement planning
Among family caregivers, 60% said they had no idea how demanding it would be, and that an insurance product to help with long-term care could have alleviated some of this pressure, according to Lincoln Financial Group.
A survey by OneAmerica indicates roadblocks in affording financial adviser services.
Yet, nearly three-quarters (71%) of those responding to an EBRI survey who said debt was a major problem worried about finances at work.
Morningstar suggests individuals and their advisers should focus on strategies that can maximize retirement savings, regardless of planned retirement age.
Asked what they look for in an adviser, Millennials say experience, followed by someone with similar demographic qualities as themselves.
A MassMutual study finds Asian Americans are more thoughtful retirement investors than other demographics, but they lack education about how long they will need to make their savings last and the timing of claiming Social Security.
More than half of employees surveyed by CareerBuilder said they think they'll need to save less than $1 million in order to retire.
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.
During a media call about the Employee Benefit Research Institute's latest Retirement Confidence Survey, sources shared ways retirement plan sponsors and advisers can help retirement savers feel more confident.
Women may face lower pay, more work disruptions, higher longevity and higher retirement health care costs than men, a study points out.
Cafaro Greenleaf is offering these services to address the financial needs of many of the participants in the retirement plans it advises.
Although some retirees face catastrophic health care cost in retirement, EBRI found that most don't.
Leveraging Quovo’s capabilities, Empower will pull real-time data from all of a participant's income sources, savings and investment accounts and integrate those factors with demographic data into a planning experience using the input of investment professionals and Empower proprietary technology.
Voya’s myOrangeMoney online, interactive educational participant experience has been enhanced with new financial planning features to support people with special needs and their caregivers.
“We will be offering My Total Retirement so that employers and their advisers can help employees with a holistic retirement planning experience that goes beyond savings and investing,” says Edmund F. Murphy III, president of Empower Retirement.
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 Prudential found pre-retirees seem well-aware of risk factors that could force them to retire earlier, study results show they could benefit from a financial plan.
The new feature will work alongside the ProcessComposer and Mix feature, and will be powered through the Salesforce platform.
Voya Financial says these new one-minute videos will combine an individual's "monthly income replacement goals, estimated monthly retirement income and possible shortfalls" to visualize their path towards retirement.