Limited financial experience and retiree hesitancy are jeopardizing retirement security, warn Wharton Professor Olivia S. Mitchell and co-authors. Their research finds that automatically placing a portion of retirees’ savings into deferred income annuities enhance retirement security for most people, potentially overcoming behavioral factors in their plan design.…Read More
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
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
Retirement planning and saving differ across racial/ethnic groups due to different longevity expectations, report Abigail Hurwitz and Orly Sade of the Hebrew University of Jerusalem, and Olivia S. Mitchell at the University of Pennsylvania. Via RetireSecure blog.…Read More
Is there an upper limit on human lifespans? Some forecast extreme longevity, but others are less optimistic, explains TIAA’s Benny Goodman. Via RetireSecure blog.…Read More
Women’s median weekly earnings rose to 83.8% of men’s in 2023, up from 82.9% the year before, moving toward closing the pay gap. Dr. Olivia S. Mitchell, Wharton School professor, proposes that women build their financial literacy through education and financial advice.…Read More
Longevity to increase substantially in coming decades! So save more and keep healthy to boost old-age security, reports Prof. David McCarthy of the University of Georgia’s Terry College of Business, via IPRA webinar.…Read More
Social Security benefit payments have exceeded revenue for more than a decade. Uncertainty over program solvency makes it difficult to plan for retirement, explains Wharton Professor Olivia S. Mitchell, via aol.com.…Read More
Longevity uncertainty, high prices, and lack of understanding decrease demand for long-term care insurance, leaving many unprepared for future long-term care costs, explains Wharton Professor Olivia S. Mitchell, via policygenius.com. …Read More
People believing they will live longer are more likely to buy annuities, so educating near-retirees about chances of surviving to older ages could help motivate annuitization, report researchers Karolos Arapakis and Gal Wettstein of the Center for Retirement Research at Boston College. …Read More
