Health & Fitness
The Reality of the New Retirement
Do you know how much you need to save for your retirement? While you can't predict your future, you can plan for it.
10: Average years that people expect their retirement savings to last
The retirement landscape has changed dramatically over the past several decades. Not only are people living longer, but the basic building blocks of the average retirement plan have shifted from defined benefit pension and Social Security monthly payments to the defined contribution plans and IRA accounts.
With these changes, savers have experienced much uncertainty. According to a 2013 global report by HSBC, people expect their retirement savings to last for 10 years on average. Contrast this with the current expected length of retirement of 18 years, and that leaves nearly a decade that the average person is not financially prepared for.
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Source: HSBC, "The Future of Retirement: A New Reality," 2013
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Prepared by BlackRock
Delivered courtesy Joel W. Grams, CRPC®, CLTC,
Registered Representative, Financial Planner, 212 Capital Group
38 Main Street Suite 360, Westlake Ohio 44145
(440) 835-4501 Ext 17, jgrams@212capitalgroup.com
The foregoing discussion is general in nature and not intended as specific advice. New England Financial nor its representatives are engaged in rendering tax, accounting or legal advice. A qualified professional should be consulted regarding the effect of such considerations on the matters covered in this publication.
For information on New England Financial insurance or other financial products and services, please contact
Joel W. Grams, CRPC®, CLTC, Registered Representative, Financial Planner with /New England Financial 38 Main Street Suite 360, Westlake, OH 44145, at (440) 835-4501 ext. 17, jgrams@212capitalgroup.com
.
New England Financial is the registered mark for New England Life Insurance Company (NELICO) Boston, MA 02116. Securities and investment advisory services offered through New England Securities, Corp. (NES)(member FINRA/SIPC) a Registered Investment Advisor. NELICO and NES are MetLife companies.
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