Societal risks such as climate change, pandemics, and financial volatility can have long-term effects and challenge retirement planning and financial resilience, writes Anna M. Rappaport at the RetireSecure blog.…Read More
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
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
Target date funds are game-changers for retirement plan member outcomes: Higher returns with lower risk, for minimal effort. Canadian Investment Review cites recent study by Prof. Olivia S. Mitchell of Wharton and Stephen P. Utkus of Vanguard.…Read More
Despite financial unknowns and a changing retirement landscape, there are steps you can take to improve your retirement security, explains Prof. Olivia S. Mitchell to Knowledge@Wharton: make a budget, be realistic, know your options.…Read More
40% of older Americans dealing with debt, rising housing costs, student loans, and medical expenses, explains Wharton’s Olivia S. Mitchell to Chris Taylor of Reuters. Delaying retirement can help.…Read More
Professor Olivia S. Mitchell contends that deferred lifetime annuities encouraged by the SECURE Act will protect retirees from longevity risk: see here at the Philadelphia Inquirer and our paper here.
Concerns are growing about how to best manage risk in retirement. Traditional defined benefit plans can impart considerable risk to employers, while 401(k)-type plans place all or most risk on employees.…Read More
In the world of financial advice, we are seeing a welcome trend toward goals-based investing. This trend puts a greater focus on the goals that investors want to achieve with their savings —such as retirement security, paying for college or purchasing a house — and uses these goals to drive investment strategy and monitor progress.…Read More
In our new research study which interviewed participants across 10 European countries, our team working with Annamaria Lusardi has demonstrated that financial and risk literacy leads to better choices when it comes to making decisions and identifying the right paths to our financial goals. We also show that the impact of financial and risk literacy on decision-making goes above and beyond that of education. And as in Olivia S. Mitchell’s recent findings, we confirm that women and millennials are least informed when it comes to financial and risk literacy.…Read More
