Fleishel Financial News
Americans are living longer, and that means a higher chance of requiring long-term care. Retirement is a major milestone that brings many life changes. One thing that doesn't change for most people: the fear of running out of money. According to the Transamerica Center for Retirement Studies, “the most frequently reported retirement worry is outliving savings and investments. Across all ages, 51% of respondents cited this concern, and 41% of retirees claim the same fear. Additionally, only 46% of retirees think they've built a nest egg large enough to last through retirement.” Here are five reasons we believe clients dangerously deplete their retirement savings:
National authors William Strauss and Neil Howe who are mostly credited with originating the name in 1987, define Millennials as born between 1982-2004. Strauss and Howe ascribe seven basic traits to the millennial cohort: “special, sheltered, confident, team-oriented, conventional, pressured, and achieving.” American sociologist Kathleen Shaputis labeled Millennials as the Boomerang Generation or Peter Pan generation, because of the members perceived tendency for delaying some rites of passage into adulthood for longer periods than most generations before them. These labels were also a reference to a trend toward members living with their parents for longer periods than previous generations. 1 (See the movie Failure to Launch- LOL)
Many of our clients are wondering if their spouses are going to say them once they retire and are under foot at home, “honey, I married you for better or for worse but not for lunch”. So many people try to imagine their life after retirement without stress, responsibility and quotas but what is it that will keep them challenged, in-shape and continuing to live with a sense of purpose?
Over the last year and even five or six years, many Investors are mistakenly evaluating their portfolio returns vs. some random benchmark like the Dow Jones 30 Industrials or the S&P 500. This is very tempting since dropping to a bear market low on 3/09/09 (i.e., approximately 94 months ago), the S&P 500 stock index has gained +291% (total return) through the close of trading on Friday 12/30/16 or an average gain of +1.5% per month, (source: BTN Research).
Fleishel Financial Associates is an Independent Registered Investment Advisor.
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