New research finds a hidden price of trust in financial decision-making. Investors allocate much more to trust funds associated with highly trusted organizations, even when less-trusted institutions offer identical funds, potentially leading investors to sacrifice substantial long-term wealth. Read more about the price of trust in financial behavior here.…Read More
New research from the TIAA Institute examines retirement systems across 11 countries and finds that retirees are more likely to choose lifetime income when it is integrated directly into the retirement system. Their findings offer important lessons for policymakers, plan sponsors, and financial advisors seeking to strengthen retirement security in the United States.…Read More
Elon Musk believes that AI will make retirement saving obsolete, but Wharton professor Olivia S. Mitchell calls the advice risky and potentially financially damaging. Experts understand that optimistic scenarios may fail, so we must still plan and save for retirement!…Read More
Wharton professor Olivia S. Mitchell explains that many retirees underspend because they fear running out of money. That fear can be eased by securing guaranteed lifetime income, such as through lifetime annuities. When retirees know their basics are covered and how much they can safely spend, they feel confident enjoying life without worrying about running out of money.…Read More
Should annuities be a default option in retirement plans? Retirees remain divided, even as Wharton Professor Olivia S. Mitchell’s new research highlights annuities’ potential to provide lifetime income and retirement security. In her recent follow-up article for the WSJ, she addresses readers’ concerns about cost, flexibility, and overall appeal.…Read More
US Baby Boomers, now age 61-79, amassed unprecedented retirement wealth, yet it wasn’t entirely due to their good planning skills, reports Wharton economist Prof. Olivia S. Mitchell. Rising productivity, increasing real earnings, and significant housing appreciation boosted their outcomes, while younger generations benefited far less from these forces.…Read More
Giving Tuesday is December 2nd! It’s a global day dedicated to supporting positive impact and strengthening communities. We look forward to sharing how you can support the Pension Research Council’s mission.…Read More
Giving Tuesday is December 2nd! It’s a global day dedicated to supporting positive impact and strengthening communities. We look forward to sharing how you can support the Pension Research Council’s mission.…Read More
A new study by Olivia S. Mitchell and colleagues confirms that annuities still make sense for retirees facing rising long term care costs. The authors find that guaranteed lifetime income, especially from deferred or variable annuities, can help protect people with higher longevity risk.…Read More
Over the past two decades, employers have helped workers save for retirement through automatic 401(k) enrollment and target-date funds. But few help them spend wisely in retirement. Professor Olivia S Mitchell proposes that legislators make annuities the default option in 401(k)s, giving retirees steady income for life. It’s a smart, equitable step toward real retirement security.…Read More
