National Retirement Security Week is October 17th through October 23rd. This week, Americans are encouraged to reflect on their retirement goals and determine whether they’re on track to reach them.
In honor of National Security Week, let’s take a closer look at national retirement security and what you can do to set yourself up for a financially secure retirement.
Each year, the Transamerica Center for Retirement Studies conducts an annual retirement survey. It’s intended to explore the attitudes and behaviors of Americans regarding retirement security and benefits. Here are several noteworthy findings from the most recent study in late 2020.
When it comes to retirement savings, the U.S. isn’t in the best spot. A report by Paris-based investment bank Natixis Investment Managers ranked the U.S. 18th in their global ranking of retirement security. Iceland, Switzerland, Norway, Ireland, New Zealand, Sweden, Denmark, Canada, Australia, and Luxembourg were in the top 10. The report discovered that despite an improvement in employment and high income per capita, retired Americans have a lower quality of life and income inequality, dragging the performance of the U.S. when it comes to retirement savings.
National Retirement Security Week is the perfect time to reflect on your retirement savings and goals using these ideas:
In conclusion, together we can review your financial situation and determine the ideal retirement plan for your situation. Contact us today to get started.
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For those who are looking for financial advice, we realize the available options are many and deciding who to work with is a challenging problem. At Sterling Oak Wealth Management, we know that it is your retirement, and you should have control over it. We offer our experience and knowledge to help you design a custom strategy for financial independence. Contact us today to schedule an introductory meeting!