Top of Mind


Showing entries with the topic “Retirement Readiness”.

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26

Jul 2018

Teach Your Children to Save

My son has $400 in his savings account. Now, that might not sound like a lot, but consider the following: My son is 12 and does not yet have a job His father, who has been working continuously since he was 11, did not have any savings until he was in his thirties; and outside of retirement, strug…

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19

Jul 2018

Why Median > Average When it Comes to Retirement Plan Account Balances

In a recent article by Barry Ritholtz, he mentions a concept that should be drilled into every retirement plan sponsor’s head when they review their recordkeeper statistics as to the success of their retirement plan:  median is more significant than average. In the retirement plan’s “dashboa…

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07

Jun 2018

Takeaways from the “A Time for You” Redbook and MFS Event

Last week, I had the pleasure of watching my colleague Emily Wrightson participate in the Redbook/MFS “A Time for You” event.  And what a treat it was, hearing four women —three of whom work in the financial services industry, as well as the editorial director of Redbook magazine — …

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24

May 2018

The Dirty Little Secret of Auto-Enrollment?

Generally, automatic enrollment has been a positive development for retirement plans, as it forces individuals who may not ordinarily save to do so at an important time - the commencement of their working careers. However, auto-enrollment is not a panacea. For example, it has negatively im…

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17

May 2018

Retirement Plan Account Balances: Big and Small

Advisors have a variety of tools at their disposal to determine the overall health of a plan sponsor’s retirement plan. However, there is a time-tested exercise that only takes about a minute to complete: review the current account balances of all the participants in the retirement plan and complete…

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03

May 2018

The 4% Withdrawal Rate: Is it Still the Rule of Thumb?

As baby boomers continue to age and more and more retirement plan participants approach retirement, plan sponsors need to move distribution planning from an afterthought to “Top of Mind” (yes, I know - don’t quit my day job!). It used to be a given that distribution planning for retirement was fa…

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26

Apr 2018

Earn More or Spend Less?

One issue that receives little attention from retirement plan sponsors is the capacity of their plan participants to save for retirement.  While there are some employees who don’t save for retirement for reasons other than financial capacity, most non-savers simply don’t have the capacity (or b…

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19

Apr 2018

Three Things to Think About Besides Retirement Plan Investments

Plan sponsors often have an unhealthy obsession with assembling the ideal array of plan investments. However, investment array selection, as well as the inherent agonizing over which funds to put on watch, which to replace, etc., should be relatively low on a plan sponsor’s list of priorities. Wh…

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01

Mar 2018

Retirement and “Doing What You Want to Do”

Two weeks ago, I profiled a rather brilliant article by Physician on FIRE, a popular blogger in the FIRE (Financial Independence Retire Early) movement.  As you may recall, he examined the reasons why some physicians continue to work after they have achieved financial independence and could com…

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