Fredrik Axsater
speaker
100 appearances
2 recordings
1 series
first heard Dec 2017
last heard Nov 2018
Fredrik Axsater’s voice in public audio — every appearance, attributed to the second.
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Appearances
Yes.
We call it the retirement sieve, that in terms of how do we get to those objectives?
I
So it's only 53% of investors that have some kind of long-term money goal, kind of a nest egg objective.
And it's only 19% of investors that have a combination of having that goal and also some idea of kind of what income in retirement can they have to last throughout their hopefully long retirement period.
And we estimate that kind of a reasonable level is to be up to 5% annually of your retirement nest egg.
I think, first of all, it's the importance of starting to save early.
You can kind of look at – if you're retiring and you're age 65 and you can look back in your lifetime, it's a surprisingly large amount of that money is coming from the early savings, just the power of compounding.
The other thing I think is – I mean, back to 401K plans, I think they're really important.
And plan sponsors, organizations are now pushing the envelope to help people save more earlier.
There was a great article in today's Wall Street Journal from Richard Thaler that was speaking to exactly this point.
That's right.
The other thing that's coming up is to, in a way, be creative and meet people where they're at.
I mean, there is a tradeoff here between, let's say, paying off student debt and saving more for retirement.
And it's just be smart and thoughtful and really thinking, as Taylor was pointing out, of that longer-term objective and having that in mind all the time.
That's right.
I mean, I think of the 401k plan right now as it's really a savings vehicle.
And sometimes we even call it the, you know, here's the savings plan.
It should be a retirement vehicle to help people save and also to make that money last throughout their retirement.
And we need to move away from that retirement sieve and think of how can you make it just easier for people to have a higher and a more clear view of what income they can have that lasts them throughout their retirement.
Showing 61–80 of 100 · page 4 of 5
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