Order Report - Retirement & Funding : Ideas for Enhancing Advice as Income Sources Evolve and Target Dates Move Younger
The past year has many investors rethinking their plans. This report explores changes in target retirement ages; aspirations and reality for income replacement rates and the importance of advice; anticipated sources of retirement income for those approaching retirement compared to actual sources for those already retired; and a profile of the "Aspire to Retire by 55" group.
- Even as more households want to “work full time as long as health permits,” target retirement dates are moving younger.
- Ambitions for replacement rates have increased, but assets-to-income ratios show most people are still very unprepared for the end of full-time work.
- Future retirees anticipate combining more sources of income than current retirees. The more income sources consumers have, the more value they see in paying for advice.
- More households report participating in an employer-sponsored retirement plan. More generous matches increase overall household saving rate, especially at lower income levels.
- There are about 11M households in the “Aspire to Retire by 55” design target. Well positioned in some ways, these households need help to achieve this goal.
How This Report is Helpful
This briefing will be especially helpful to people working on workplace advice, institutional retirement plans, IRA or rollover product management and financial planning.
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Sample Report Pages
This new 76-page report features 50 data-intensive exhibits.