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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.

Don't Make This Social Security Mistake

June 7, 2017
By:
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
By:
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
By:
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.

This Country Has the Most Financially Literate Teens — and it’s NOT the U.S.

May 25, 2017
By:
Jacob Passy

More than a fifth of U.S. teenagers lack basic financial literacy skills — and things aren’t improving. Young Americans aren’t the only ones lacking financial knowledge. In a recent retirement literacy quiz hosted by the American College of financial services, nearly 75% of retirement-age Americans failed.

Boost Your Retirement Savings

May 25, 2017

Kids don’t understand money. They don’t understand how to save it, how to spend it or how to stay out of money trouble. This lack of knowledge is going to lead to problems down the road when it comes to saving to buy a car or a house, or even having enough money for retirement.

Retirement Literacy Continues to Lag Among Older Employees

May 23, 2017
By:
Paula Aven Gladych

Retirement planning literacy remains low, even among older, wealthier people with good educations who say they know a lot about retirement planning, according to the 2017 RICP Retirement Income Literacy Survey Report produced by The American College New York Life Center for Retirement Income.

Most Failed the Retirement Quiz, But Here’s How to Pass

May 21, 2017
By:
Sheryl Nance-Nash

If you’re lucky, you will get old. What then? Apparently too few people are asking the question and even fewer have answers. The new RICP Retirement Income Literacy Survey from the American College of Financial Services found three in four retirement-age Americans fail a quiz on how to make their nest eggs last throughout retirement.

New Survey Shows Retirees Want to Stay in Their Homes

May 19, 2017

An overwhelming number of people nearing or in retirement want to remain in their current home as long as possible, according to the results of a new survey released by The American College of Financial Services. The Home Equity and Retirement Income Planning Survey found that 83 percent of the respondents do not want to relocate in retirement.

Wary Borrowers Avoiding Reverse Mortgage Market

May 18, 2017
By:
Phil Hall

In May 2016, the American College of Financial Services released the results of a reverse mortgage survey. Only 14 percent of respondents said they considered pursuing this loan, while just one respondent reported to having a reverse mortgage.

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