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Essential reading, as well is the Center for Retirement Research’s National Retirement Risk Index, updated this past January. Also, check out Pew Research’s “How Employees Handle Their Retirement Savings During Work Transitions,” which uses data from the University of Michigan’s Health and Retirement Study to look at how people in respective occupational and earnings segments respond differently to earlier-than-expected retirement.
Characterization of the opportunity for housing – not now, but someday – as a solution jumps out in this “a tale of two … ” conclusions among Pew Research’s key findings:
Pew’s analysis shows that decisions about retirement savings can vary with income, debt, race, and account balance size, among other factors. Certain policies or employer practices may be helpful when workers and retirees draw down their retirement savings, because they may lack information when they do so; perhaps they have not previously owned an IRA and hence may be less aware of IRA rollover options and fee structures. More financial education delivered at the point of decision-making about topics such as fees and plan and IRA options that preserve assets in retirement may be helpful. When feasible, it should be easy—even the default option—to keep assets in a low-cost retirement account whether that account is an employer plan or an IRA with low-fee investment options.
Financial education, literacy, and planning – basics of housing’s ladder to adoption, aspiration, and attainment – go with the turf of expanding market opportunity for the senior housing segment.
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