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News & Blog

Our expert faculty are frequent contributors to consumer-based media as well as to more scholarly academic publications. Keep current with recent developments in the retirement income planning field and check out the latest articles from the thought leaders who are part of the The American College New York Life Center for Retirement Income.

5 Questions to Ask About Your 401k Plan

June 26, 2017
Brian O'Connell

New hires have plenty of questions and concerns when they're just starting with a company, and that's all for the good. But at the top of the list should be your 401k plan, and how that benefit will be maximized during your tenure at your new company.

Survey Says: Most Retirees Are Clueless About Money Management

June 25, 2017
Wendy Connick

When you're retired and the biggest source of your income is the savings you've spent decades building up, you need to understand at least the basics of investing. Sadly, many retirees lack the knowledge they need to keep their investments thriving and producing sufficient income.

Long-Term Care: Beware of What Medicare, Medicaid Does Not Cover

June 24, 2017
Casey Dowd

According to RICP’s 2017 Retirement Literacy Survey, 70 percent of people age 65 and older will need long-term care (LTC) at some point in their lives. And the 82 percent of respondents that feel they will not need LTC may not understand the devastating impact a critical illness can have on both their financial future and their family.

Older Americans in Urgent Need of Retirement Income Education

June 22, 2017
Javier Simon

Unlike their younger counterparts, individuals nearing or in retirement don’t have the luxury of long time horizons in which to grow their nest eggs. They are at a point where developing a strategy to sustain their assets and draw retirement income is critical. However, many lack the knowledge to do so effectively.

Study Shows 'Retirement Literacy' is Shockingly Low

June 20, 2017
Elliot Raphaelson

The American College of Financial Services conducted an online survey containing 38 questions to assess retirement literacy among those near or in retirement. Respondents were between ages 60 and 75 with at least $100,000 in household assets, not including their primary residence.

Beyond the Fiduciary Rule: Workers Not Saving Enough for Retirement

June 11, 2017
Larry Edward Penley

New guidelines on fiduciary rights and responsibilities went into effect Friday, but the U.S. Department of Labor will continue to review the policy. That may put to rest for now an extended debate on the meaning of the term “fiduciary,” the responsibilities of investment professionals and the rights of consumers.

Don't Make This Social Security Mistake

June 7, 2017
Todd Campbell

When we think about life expectancy, we usually consider it from birth, not from our current age, and that could be a costly mistake, because life expectancy factors heavily into our decision of when to claim Social Security benefits.

This Confirms Our Worst Fear: 74% of Seniors Failed a Basic Financial Literacy Quiz

June 5, 2017
Todd Campbell

A recent survey of over 1,300 Americans finds that almost 3 out of 4 people aged 60 to 75 failed to pass a quiz measuring financial literacy, and only 5% managed a grade of 80% or better. The poor performance suggests many Americans aren't making the most of their money in retirement.

Survey Shows Those Working With Advisors Less Financially Literate

June 2, 2017
Christopher Robbins

People who work with an advisor can build a more solid financial plan, but it doesn’t necessarily mean that they know more about retirement. Few Americans know the basics of retirement, according to The American College of Financial Services, displaying a “worrying” understanding of one of the most important financial events of their lives.

Clueless About Retirement: Americans Fail Retirement Income Quiz

May 30, 2017

The new RICP® Retirement Income Literacy Survey from The American College New York Life Center for Retirement Income quizzed more than 1,200 Americans aged 60-75 with over $100,000 in assets other than their home. The results, even among this relatively well-off, retirement-aged cohort, are troubling.