Here are some interesting retirement and industry related blogs and news stories we've found this month.
We marketers at LAGERS often discuss how we can get our message to our millennial member audience. The younger portion of our member base just doesn’t seem to pay as much attention to us. Unfortunately, this is the best time for them to think about their retirement goals. This article is a good indication of how this group feels about saving for retirement. Turns out, they’re a bit intimidated by the whole process.
Millennials, learn from your elders! This next post opens with the line, “The biggest regret those of us in our 50s and 60s have about our later years is not having planned early enough for our retirement years.” Then follows with four more pre- and post-retirement mistakes that all of us can avoid if we take the time to plan and prepare.
Did you know that life expectancy increases by 2-3 years every decade? It’s typical for adults now to live well into their 90’s, and today’s children easily expect to live to 100! This is great, right? Well, yes, but it poses new challenges for your retirement plan. If 70 is the new 60, how do we plan to live 30 years in retirement? Be sure to also check out the related reading, “Retirement planning in 3 steps.”
This article from Benefits Pro gives us a peek behind the curtain at what industry experts see as the main causes for concern among those trying to plan for retirement. The process can be intimidating and seem complicated to the average person, but with patience and education industry professionals can guide even the most confused person through the process towards a successful retirement. After all, “Rocket science isn’t rocket science to a rocket scientist, but it is to everyone else.”
Another industry article we want to make you aware of comes from Gary Findlay, former Executive Director of the Missouri State Employees Retirement System (MOSERS) right here in our home state. It’s important that all of us are aware of the anti–pension / Defined Benefit critics and their arguments against our pension systems. In any financial endeavor, there are risks, and therefore, fears. Overcoming those fears and educating our members so that all of us can take up the fight is the best way to combat the naysayers.