LendEDU Says Millennial Spending Habits Won’t Impede Retirement Savings
The average Millennial spends over $30 on coffee per month, but will also, on average, save $480 for retirement in the same time frame.
In Practice
Educational Resources Bolster Retirement Readiness
An IALC report suggests plan sponsors apply educational resources—like seminars and informational fairs—to heighten employee participation.
Retirees Cite Decline in Income as Reason for Bankruptcies
A study found the cost of health care was another top reason retirees filed for bankruptcy.
Emerging Wealth Segment Represents Opportunity for Retirement Plan Advisers
Many plan providers are squandering their chance to serve as long-term consultants to a potentially lucrative client cohort by not upscaling their offerings to meet its demands, Cerulli...
Study Suggests Women Are More Likely to Heed Financial Advice
According to a new MassMutual study, 79% of retired women are receiving professional financial advice, compared to 68% of men.
Nearly One Third of Pensions Within Striking Distance of a Buyout
With a funding status of 95% or more, a buyout or risk transfer deal are two viable options for these plans.
Financial Stress Hampers Employees’ Vision of Retirement
In a new Bank of America Merrill Lynch survey, 95% of employers who offer such benefits agree that their financial wellness programs have been effective at promoting work...
Health Care Costs Remain Retirement Planning Blind Spot
According to a new survey, 76% of employees say they understand the salient features of health savings accounts, or “HSAs,” yet only 12% could correctly identify the common...
Adviser Executives Expect Strong Headcount Growth This Year
Polling its members, the Investment Adviser Association finds broad optimism about business prospects in the year; many firms report plans to grow headcounts by up to 10%.
Half of Retirement Savers Are ‘Chasers’
Fifty-four percent of respondents to an Allianz Life survey say that other expenses are interfering with their retirement savings, and 20% say they are saving for other financial...
Retirement Plan Leakage Thwarts Automatic Enrollment
A TIAA study finds the feature's benefit are continuously offset by pre-retirement withdrawals and plan loans.
Will Increasing Maximum HSA Limits Help Employees?
Research from EBRI shows very few employees contribute the maximum statutory limit to HSAs.
Advisers Prefer Face-to-Face Meetings with Clients
A mere 12% regularly use video options like Skype and FaceTime.
Most Millennials Have Appropriate Allocations
This is despite having lived through two bear markets.
Small and Mid-Sized Plans Are the Sweet Spot
Twenty-nine percent say they are likely to switch retirement plan providers within the next year.
The Most Successful Advisers Are Tech Innovators
They are also harnessing the competitive edge of AI.
Millennials Value Financial Planning as Much as a Bonus
They also believe having an adviser they can trust is important for their financial confidence.
Millennials Reluctant to Invest in the Market
However, there are things retirement plan advisers and sponsors can do to encourage them to take on more risk.
Employers Report an Increased Demand for Financial Education Among Employees
Employers say debt, saving for retirement, paying for their children’s education expenses and covering basic living expenses are top worries of employees, and 63% of employers surveyed currently...
Advisers Help with Current and Future Financial Goals
Seventy-five percent of those with advisers say they are disciplined or very disciplined financial planners, relative to just 37% of those without an adviser.