mickeyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Looks like the definition of long-term has been changed to 5 years. I have always considered it to be at least 30 years or so. What do you guys consider long-term to be?
Retirees Only Planning Finances Five Years Ahead
“Retirees are planning for only five years down the road and yet many are as confident as they were before the 2008 recession,” says Sally Bryck, associate research director of Limra, a research and professional development organization for insurance and financial services companies.
“There is a disconnect. How can they have confidence if they do not know how long their money will last? There is a gap between the way they are feeling and the way they are behaving,” adds Betty Meredith, director of education and research at the International Foundation for Retirement Education.
The study, The Financial Recovery for Retirees Continues, was done for the Society of Actuaries, Limra and the International Foundation for Retirement Education. The study, started four years ago, was taken of 461 retirees who were between 55 to 77 years old in 2008 and had $100,000 or more investable assets.
This year 85 percent of retirees in the study said they feel they will have enough money to live comfortably, almost back to the 2008 level, compared with 79 percent in 2009. Half feel their investments are being handled in the best possible way, again approaching the 2008 level after a dip in 2009.
Retirees Only Planning Finances Five Years Ahead