Good Financial Reads: Retirement Risks (and Rewards)

A number of policy changes pertaining to how retirement accounts and other retirement-age mechanisms are either being proposed or have already been penned into law. These changes will have a significant and lasting impact in how retirement accounts as well as how the social safety net functions in our society both now and in the future. While these changes are touted for the qualities that may exist in them, there are a number of consequences that will likely result in a weaker financial foundation for younger generations, particularly for Gen X and Millennial-aged individuals. Moreover, some of these changes may also have significant wealth transference consequences, potentially creating and perpetuating systemic financial racial discrimination along with a growing percentage of the population that ultimately ends up becoming a ward of the state. This paper will study the underlying motivations and factors driving these policy changes, ramifications of these policy decisions including both intended and unintended social consequences, and what other steps can be taken to answer long-term budgetary risks.

After working, saving and investing for decades, you’re finally reaching a point where retirement is on the horizon. Maybe that means leaving a full-time job to do some consulting work on the side. Maybe it’s finally pursuing that hobby you’ve been passionate about for years, but just haven’t had the time to do. It could even be something as simple as finally learning to cook or spending more time with your children or grandchildren. With all these exciting possibilities, Sequence of Returns Risk is probably not on the top of your radar of things to lookout for in retirement, but it should be.

North Chicago-based AbbVie is currently offering employees a new savings option that can significantly affect their retirement income. Employees have until August 26, 2022 to decide whether they want to stay on the current AbbVie retirement plans, or accept a new plan that would freeze their pension benefit but offer higher 401(k) contributions in return. This special blog post can help AbbVie employees assess the offer so they can make an informed decision about their retirement security.

When most people think about retirement, their thoughts are on leisure pursuits, spending time with family, or serving organizations they’re passionate about. In the back of our minds is the reality of getting older and maybe having health issues. Retirement savings sustain our current lifestyle beyond our working years. But it’s important to understand how the high costs of healthcare in retirement factors in the mix as well, even if you’re young!