Rising longevity combined with declining financial literacy is leaving many retirees vulnerable to retirement insecurity, explain Wharton Professor Olivia S. Mitchell and co-authors. Her research highlights the urgent need for better annuity options and user-centric advice to help safeguard older Americans’ financial futures.…Read More
Why do many advisors lean toward or avoid annuities, and what can make them rethink? New research highlighted in the NBER Reporter by Wharton Professor Olivia S. Mitchell and co-author Abigail Hurwitz reveals the behavioral and financial forces driving financial advisors’ annuity recommendations, and how client health and other characteristics influence their retirement advice.…Read More
What if a new approach to 401(k) plans could pay retirees stable lifetime incomes, with lower costs and better protection against running out of money? New research by Wharton professor Olivia S. Mitchell and co-authors explores how using deferred lifetime income annuities would reshape retirement wellbeing. …Read More
Despite today’s favorable annuity rates, few retirees select them, and most 401(k) plans don’t “nudge” them to do so. Wharton Professor Olivia S. Mitchell with co-authors Vanya Horneff and Raimond Maurer explore how ‘pretty good’ lifetime payouts from retirement plans can be made more accessible. Their research underscores the need for including deferred annuities as a default approach for 401(k) plans. …Read More
Alternative assets, such as private equity and crypto currencies, are emerging as investments that people can hold in their retirement accounts. Yet retirement assets need to produce returns that can sustain an expected lifestyle throughout retirement. Before adding these new alternatives to retirement portfolios, investors must learn how and why they differ from traditional assets like stocks and bonds and decide if they can bear the risks. Via RetireSecure blog.…Read More
As policymakers and employers consider including annuities in retirement plans, questions remain about their implementation. A recent article explores the trade-offs of making annuities the default in retirement plans. Wharton professor Olivia S. Mitchell offers expert insights on fiduciary risks, participant preferences, and financial literacy gaps, highlighting the balance between…Read More
Many retirees risk outliving their savings, yet few employers offer tools to help manage spending in retirement. Wharton professor Olivia S. Mitchell examines why plan sponsors are slow to adopt decumulation solutions. Her insights spotlight the growing urgency for better retirement income planning amid rising financial uncertainty.…Read More
Many adults struggle to understand key financial concepts, leaving them unprepared to navigate today’s complex economy. Wharton Professor Olivia S. Mitchell, an expert on retirement and financial literacy, has new research showing that short two-minute stories can effectively boost financial knowledge—offering a low-cost, scalable solution to help close the literacy gap.…Read More
Many Americans are financially illiterate, not having been taught basic money facts when young; half of adults get simple money questions wrong. Wharton professor Olivia S. Mitchell stresses the importance of early financial education, highlighting the powerful role parents and educators play in shaping kids’ money mindsets.…Read More
As people age, their financial decision-making abilities can decline, making them more vulnerable to scams and poor financial choices. An expert in financial literacy, Wharton professor Olivia Mitchell advocates better financial literacy and policy to protect older adults from this decline. …Read More
