- Generational Divide In Post-Pandemic Financial Confidence
Millennials express more confidence in their long-term financial futures than their Gen X counterparts, though concerns about post-pandemic budgets linger
The latest New York Life Wealth Watch survey revealed how Millennials are most concerned about post-pandemic budgets, but they express high levels of confidence in their long-term financial futures and retirement preparation. Gen Xers, conversely, are more confident about their short-term budgets but more uncertain about their financial futures.
read more - Generational Views Of Retirement In The U.S.
Different generations face different retirement challenges
The ongoing COVID-19 pandemic has presented extraordinary health and economic challenges across the globe, triggering yet another deep economic crisis. While the availability of several vaccines in late 2020 has begun to alleviate health and economic issues, the economic fallout from the pandemic may create substantial uncertainty about financing retirement that could trigger Americans to…
read more - 2021 Supplemental Health, DI & LTC Conference Goes Virtual
Exploring how the pandemic is changing the insurance industry
Sam Glick, partner and leader of Oliver Wyman’s Health Innovation Center, will open the 2021 Supplemental Health, DI and LTC conference with a discussion about what the U.S. healthcare landscape will look like post pandemic.
read more - Millennials & Gen X Increasingly Concerned About Retirement In Wake of Pandemic
Strong support across generations for pensions and Social Security
A national survey finds that Millennials and Generation X are more worried about retirement as compared to older generations. Sixty-four percent of Millennials and 54 percent of Generation X are more concerned about their retirement security in the wake of the COVID-19 pandemic. The level of concern is at 42 percent for Baby Boomers and…
read more - Capturing Control Of Your Retirement Planning
Plan participants reach out for help with investments, contributions, and post-retirement income
J.P. Morgan Asset Management today released findings from its sixth research study of plan participants, revealing that while nearly four in five respondents did not change their contributions or investments during COVID-19, more than half feel like they're overloaded with information and don't know where to start planning for retirement.
read more - Care Crisis Looming
Considering the future of the caregiving workforce
Mounting pressures of skyrocketing aging populations, severe barriers to building an expanded caregiving workforce to meet demand and the inability of older generations to rely entirely on family support are all contributing to the crisis of care, a new global report highlights.
read more - Bank of America Launches New Digital Investment Advisory Program
Personal Retirement Strategy provides investment guidance to help employees achieve retirement income goals
Bank of America today announced the launch of Personal Retirement Strategy, a new digital investment advisory program. Institutional and corporate retirement plan clients can now offer this Merrill program designed to help plan participants establish and pursue their retirement income goals.
read more - The Threat Student Loan Debt Poses On Retirement Readiness
Collectively, Americans owe $1.6 trillion in student loan debt
by Laurel Taylor
The rising costs of college and individual indebtedness have forced policymakers to consider student debt a growing threat to retirement savings. Collectively, Americans owe $1.6 trillion in student loan debt. Not to mention, it takes many borrowers up to 30-40 years to repay that debt. This prevents individuals from saving for retirement and creating healthy…
read more - A Pandemic Silver Lining
Many Americans credit the pandemic with helping them refocus on their retirement planning
Many Americans credit the pandemic with helping them refocus on their retirement planning Edward Jones and Age Wave research reveals the timing and funding of retirement are being adjusted, shining a spotlight on the importance of purpose and contribution post-work. ST. LOUIS, June 14, 2021 /PRNewswire/ — Following a year of unprecedented volatility across economic…
read more - LGBTQ+ Consumers Aim High With Retirement Savings Goals
Yet the pandemic still created financial stress and retirement uncertainty that underscores areas for improvement to achieve financial security
LGBTQ+ Americans have big goals when it comes to retirement. According to Lincoln Financial Group’s 2021 Retirement Power Study, LGBTQ+ respondents feel they should save a higher median amount of their annual salary for retirement — 20% — when compared to the broader population at 15%.
read more - Money On The Table: Just 10% Of Non-Retired Americans Plan To Wait To Age 70 To Claim Social Security
Seven-in-Ten Wish They Were More Knowledgeable About Social Security
According to the Schroders 2021 US Retirement Survey, just 10% of non-retired Americans ages 45 and older are planning to wait until age 70 – the age at which an individual reaches their maximum monthly benefit – to begin taking their Social Security benefits.
read more - Americans Say They’re In Financial Recovery Mode
While they are still contending with the financial impact of the pandemic, almost all of them are confident they'll recover fully
Most Americans are still contending with the financial impact of the Covid-19 pandemic, according to the latest set of findings from Northwestern Mutual's 2021 Planning & Progress Study.
read more - How Has Pandemic Impacted Trends In Retirement?
Approximately a Third of Americans say the pandemic delayed their retirement plans, while younger respondents report greater knowledge of lower-risk financial products
The Indexed Annuity Leadership Council (IALC) today announced the launch of a survey that examines the impact of the pandemic on trends in retirement. The study found that almost a third (30%) of American workers said the pandemic delayed their plans for retirement.
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