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Human resources and labor relations

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Will we outlive our money?

Article Abstract:

The article raises important issues concerning the heightened importance uncertainty plays in determining income during retirement. Among the key issues are longevity risk and savings withdrawal rate will be impacted at different rates of return. The Social Security Statement hits home the fact that the program is intended to provide a floor of income for all, but income adequacy for few. The retirement planning tools being distributed by SSA are intended to encourage personal savings so that these numbers improve the future generations. The information should server to increase the number planning and saving for retirement. The media has a growing number of personal finance writers who work hard to present needed basic information, and to put the hype of the regular news reports into perspective. To augment the work of the personal finance writers, the media Internet sites are being expanded to include financial planning tools, educational content and links to other sources. The proportion of workers and families with retiree medical protection at least partially paid for by a previous employer or union is on a steep decline as well. Thus, there is a need for most of today's workers and families to have more personal savings as they reach retirement than those now retired.

Personal finance

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Retirement planning and long-term risk

Article Abstract:

The article looks at connection between short and long term risk and their effect on retirement savings. One of the common measures of risk presented in mutual fund prospectuses is standard deviation. The greater short-term risk necessarily means greater long-term risk needs to be adjusted to recognize what the long-term goal of investing is. While short-term risk is an important factor that affects individuals' comfort with portfolio allocation strategies, it should not be used to the exclusion of long term forecasts that are more directly related to their retirement goals. In order to make good, prudent decisions about their financial futures, employees need information that helps them see the relevant long term consequences of alternative choices. The value of this information is enhanced if it is provided on an ongoing basis. More complete information is available through services that are targeted specifically at retirement planning needs.

Personal Savings, Risk assessment

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New approaches to analyzing and managing retirement risks

Article Abstract:

This overview of retirement needs and innovative financial products to ensure security for aging Americans finds there is a greater need for data on and understanding of retirement risks; that retirement planning models must use emerging data about these risks; and that all the tools of risk management that are available should be used for managing retirement risks. Increased life expectancy means that people will face longer periods of retirement, and will need to extend their savings and benefits for a longer time. While some new financial products are available, more economic and financial research is needed.

Aged, Elderly, Finance, Risk management

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