Should chronological or biological (risk-adjusted) age drive retirement claiming? Longevity research suggests the latter, per Prof. Moshe A. Milevsky of York University, via RetireSecure blog. …Read More
Pension Pooling and the Randomness of Age
longevity
Why Older Americans Regret Not Saving Early and Enough
Lacking longevity awareness, many older Americans haven’t saved enough for retirement. Better understanding of retirement risk management could strengthen their financial resilience, according to Wharton Prof. Olivia S. Mitchell, via Knowledge at Wharton.…Read More
The death question: How to talk to clients about their life expectancy
Prompting people to think about longevity can positively affect their financial decisions and plans for the future, says Olivia S. Mitchell of Wharton’s Pension Research Council, via FinancialPlanning. …Read More
These are the top 5 ‘financial regrets’ of Americans over 50
Financial regret increases when older Americans are encouraged to consider their likely longevity, find economists Abigail Hurwitz of the Hebrew University of Jerusalem and Olivia Mitchell of the University of Pennsylvania’s Wharton School via MarketWatch. …Read More
What Does Longevity Awareness Do To Retirement Planning?
Understanding life expectancy and longevity risk improves retirement related decision making including how people save, invest, and decumulate assets to avoid running out of money in old age find Profs. Abigail Hurwitz and Orly Sade of The Hebrew University of Jerusalem, and Olivia S. Mitchell of Wharton via RetireSecure blog. …Read More
Why pandemic forced baby boomers to rethink retirement plans
Common wisdom once held that retired boomers could safely withdraw 4% of their savings per year, but now with rising longevity and healthcare costs, and low returns, that’s too risky, says Wharton Prof. Olivia S. Mitchell via the Christian Science Monitor.…Read More
The high cost of money-back guarantees for IRAs in Germany
Money-back guarantees on pensions cost a lot, especially in these low-return times, report Olivia S. Mitchell, Raimond Maurer, Vanya Horneff, and Daniel Liebler in their study cited in Retirement Income Journal.…Read More
The Economics of Living to 100
As more Americans are living longer, public-private partnerships can help strengthen their financial security in later life. Co-moderators Prof. Olivia S. Mitchell of Wharton and Surya Kolluri of Bank of America discuss the 2020 PRC symposium with Wharton Magazine which explored several such partnerships.…Read More
Solving the Long-Term Care Financing Puzzle in the Wake of COVID-19
Long-term care in the United States has long been underfunded and had its problems ignored, which set the stage for COVID-19 infection and death in care facilities. Nora Super, Jason Davis, and Caroline Servat of the Milken Institute outline several public and private options to improve care financing, via the RetireSecure blog.…Read More
New Financial Instruments for Managing Longevity Risk
Lower returns, longevity risk make defined benefit pensions more challenging for employers to offer, but some plan sponsors are transferring these risks to (re)insurers, writes John Kiff at the RetireSecure blog.…Read More