Posts Tagged ‘retirement savings’
Helping Clients Regain Retirement Confidence
There is a silver lining to the lack of confidence seen today's in employees planning for retirement. Nearly 70% of workers say they need to save 10% or more of household income in order to have a financially secure retirement. Four in 10 put the goal at 20% or more. While those may be just guesses, they are at least in the right direction for [...]
Deferred Income Annuity Sales Break Records in 2012
Subscribe to Insurance Insider News by Leila Morris ANNUITIES • Deferred Income Annuity Sales Break Records in 2012 IN CALIFORNIA • Commissioner Offers His Own Geographic Rating Proposals • Healthcare To Take a larger Share of California’s Budget • Provider Sues After Being Excluded from Anthem Network HEALTHCARE • HHS Issues [...]
Retirement Planning’s ‘Magic Numbers’
Fidelity Investments, the nation's largest provider of 401(k) plans has come up with a magic number to determine when your clients are saving enough. Typical wage earners, it said, should aim to save at least eight times their final annual pay to be sure they can afford basic living expenses in retirement. To come up with the formula, Fidelity [...]
Health Costs Hurting Retirement Business Owners Say
Seven-in-ten American business owners consider rising health care costs to the primary threat to their current or future retirement, according to a new Millionaire Corner survey of 1,100 investors. “The cost of health insurance” has been ranked the top small-business problem for the last 25 years, according to “Small-Business Problems and [...]
Retirement Planning: Reality Bites for Generation Xers
Generation Xers are struggling more than other age groups with retirement planning. Hit particularly hard by the recession, they are juggling the twin needs of saving for retirement and the immediate needs of raising a family and other major financial obligations such as paying a mortgage. The retirement planning attitudes of those between 30-44 [...]
America’s Retirement Crisis Is Even Worse Than You Think
A new study brings to light 15 frightening facts about how swiftly the U.S. retirement scenario is changing. Dwindling saving patterns seem to be sweeping away the image of the relaxing "golden years" and replacing them with a harsh reality. In American society, our expectations have risen over the decades, and we expect to command enough money [...]
Few Understand Longevity when Planning Retirement
Despite increasing life expectancy in the U.S., more than half of retirees and pre-retirees underestimate how long they may live, according to a survey from the Society of Actuaries (SOA). A separate report released by the Insured Retirement Industry on Tuesday noted that women are particularly at risk for outliving their savings. The implications [...]
Our Ridiculous Approach to Retirement
Seventy-five percent of Americans nearing retirement age in 2010 had less than $30,000 in their retirement accounts. The specter of downward mobility in retirement is a looming reality for both middle- and higher-income workers. Almost half of middle-class workers, 49 percent, will be poor or near poor in retirement, living on a food budget of [...]
Employees Still Uncertain about Retirement
A recent survey shows that employees’ proactive focus on retirement planning was sustained in the first quarter of 2012. Yet, despite a strong market rebound over the past couple of quarters, employees remained uncertain about their investing decisions and ability to retire. This appears to be a result of employees continuing to realize they are [...]
Retiree Health-Care Costs Surge
A 65-year-old couple retiring in 2012 will spend at least $240,000 in healthcare costs during their retirement, according to a report from Fidelity Investments released Wednesday. That figure represents a 4% increase from last year, when the study estimated such costs would average at least $230,000. But many people live longer: That [...]
