Tag: retirement savings
The Federal Reserve recently released the 2019 Survey of Consumer Finances (SCF), a triennial survey of a nationally representative sample of U.S. households, which over-samples those with high net worth. It is considered the gold standard of information on income and wealth. For American households, both median income and median earnings and wealth increased sinc…
In my view, one of the best things to come out of the SECURE Act of 2019 is the requirement that plan sponsors “give savers a realistic illustration of how much monthly retirement income they could expect to purchase with their account balance.” Shifting the focus from 401(k) balances to monthly income could provid…
