TITLE

Scaring People into Inaction?

PUB. DATE
August 1997
SOURCE
Journal of Financial Planning;Aug1997, Vol. 10 Issue 4, p15
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article reports on how poorly U.S. citizens are saving for retirement. One of the latest surveys is from the 1997 Merrill Lynch Baby Boom Retirement Survey, which said boomers are saving only 38.5 percent of what they need for retirement. T. Rowe Price says they are needlessly scaring people because they really do not need as much money as they think. T. Rowe Price's research claims that most retirement plan programs overestimate the amount that people need to save for retirement because they overestimate the impact of taxes. First, the programs always calculate income taxes on the marginal rates, not the lower effective rates. Second, for many retirees, Social Security benefits are not even taxed.
ACCESSION #
9708310871

 

Related Articles

  • Baby Boomers Are Ripping Up the Retirement Rule Book. Burnham, Michael // Benefits & Compensation Digest;May2007, Vol. 44 Issue 5, p30 

    The article explains the impact of baby boomers on retirement planning in the U.S. The author says the financial side of retirement planning has moved light-years past the chancellor's time. Baby boomers have accumulated more assets than other generations and should have a solvent Social...

  • Family Fix For Baby Boomers Needed. Blazzard, Norse N.; Hasenauer, Judith A. // National Underwriter / Life & Health Financial Services;4/28/2003, Vol. 107 Issue 17, p14 

    Focuses on the impact of the baby boomer generation on the retirement planning industry in the U.S. Concern about the stability of the Social Security system; Emphasis on longevity planning for retirees; Design of annuities throughout the life insurance industry.

  • For Baby Boomers Turning 62: A New Year's Checklist. Timmermann, Sandra // Journal of Financial Service Professionals;Jan2008, Vol. 62 Issue 1, p26 

    The article presents financial planning advice for U.S. baby boomers who are about to become 62 years of age. Assess your ability to retire, both financially and psychologically. Determine whether it makes sense to delay receiving Social Security benefits. Understand your investments and make...

  • Baby Boomers Head for Retirement. Korczyk, Sophie M. // Journal of Financial Planning;Mar2001, Vol. 14 Issue 3, p116 

    This article focuses role of financial planners in providing the needs of baby boom generation for their retirement. The baby boom generation accounts for over 28 percent of the U.S. population. However, its mind-set has not been explored nearly as thoroughly as that of the 65-and-over...

  • The 8% Solution. Korn, Donald J. // Financial Planning;Sep2010, Vol. 40 Issue 9, p109 

    The article describes the eight percent solution, in which clients may earn eight percent from their Social Security benefits by waiting for a year. With the aging baby boomers in the U.S., an increasing number of financial planning clients have been inquiring about their benefits. According to...

  • Locusts. Sigler, Kevin; Sigler, Jake // Business Management Dynamics;Aug2014, Vol. 4 Issue 2, p10 

    Over their lifetime it appears that baby boomers, Americans born from 1946 through 1964, have allowed their country to take on enormous debt that they will not repay; they have built bureaucracies that cost the public trillions; and they have not planned for retirement and will be the chief...

  • Social Security: Will it be here when you need it? Cole, Patricia B. // Fort Worth Business Press;7/21/2008, Vol. 22 Issue 28, p11 

    The author comments on the Social Security program in the U.S. She notes that the program has been in operation for 65 years during which it provides benefits to over 48 million workers. She mentions that the program may experience a strain once the baby boomers retire in large numbers within...

  • Early Boomers Won't Wait To Draw on Social Security.  // Money Management Executive;1/7/2008, Vol. 16 Issue 1, p7 

    The article reports on the result of the survey regarding baby boomers who are considering retirement plans in the U.S. It shows that most baby boomers turning 62 in 2008 have established very traditional lifestyle characteristics, but do not consider retirement planning to be a pressing issue....

  • Weighing The Options On Retirement Plan Distributions. Hersch, Warren S. // National Underwriter / Life & Health Financial Services;7/25/2005, Vol. 109 Issue 28, p30 

    Focuses on the impact of plan elections on clients' retirement and estate planning objectives in the Audio/Web conference sponsored by the Society of Financial Service Professionals in the U.S. Challenges that baby boomers should consider in maximizing retirement plan assets; Methods in...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics