Anne Tergesen

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4,485 appearances 83 recordings 1 series first heard Jul 2017 last heard Feb 2025

Anne Tergesen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Retirees Face Decline in Financial Wealth Due to Inflation · 16 May 2024 podcast

The study looked at also the impact of inflation on the financial wealth of people who are both in retirement and near retirement and they're forecasting declines in wealth. matched

Which is really problematic for people who are either in retirement or on the cusp of retirement and need to rely on their financial wealth for years to come. matched

This was a study done by Boston College, their Center for Retirement Research. matched

The goal there was to look at how retirees have actually managed since 2021. matched

And they did a survey to ask people what their actual savings and withdrawal behavior was in that period. matched

So they were able to track that people said they had increased the withdrawals that they've taken from their accounts in order to better cope with rising prices. matched

You know, these are averages over hundreds of people. matched

It came out to something like 2.5% of the average income. matched

They looked in particular at 2022 and 2023 were the years that they actually got data on. matched

But what they did was sort of extrapolate that trend over the next two years to try to get a sense for how this might affect the wealth that people hold. matched

Yeah, and when you consider that the advice is often to withdraw no more than 4% from your portfolio a year, a 2.5% increase, even though that's based on household income, that could be a significant increase in what people are taking from their retirement accounts. matched

Yeah, no question. matched

Those have helped retirees. matched

I mean, Social Security forms a significant portion of retiree income, even for people who are sort of wealthier than average. matched

It tends to comprise a decent chunk of income. matched

So that is adjusted for inflation. matched

However, a lot of retirees these days also still, to the extent that they have defined benefit, old-fashioned pension plans, those often are not adjusted for inflation. matched

So in particular, when people work for private sector companies that offer pensions, those generally are not inflation-adjusted. matched

So for retirees, it's really a mixed bag about the extent to which their income is adjusted for inflation. matched

For workers... matched

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