We need new savings options to ward off retirement funding crisis
As social security faces numerous solvency and structural issues, we must turn to fresh strategies
✒ “Around the world, individuals will increasingly be asked to take responsibility for their own retirement planning, including making decisions that few are equipped for, on issues such as compound interest and considering the impact of inflation. They are being burdened with three complex, interconnected decisions: how much to save, how to invest (with many additional decisions), and how to decumulate one’s portfolio at retirement. There must be a better way.”
“More such innovative instruments from academics, politicians and others are needed if we are to ensure more people can retire with resources that can withstand inflation and provide the security they need.”
Note to self: don’t count on the defined contribution plan for retirement.