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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.

Income Illiteracy May Favor Simple Annuities

May 15, 2017
By:
Cyril Tuohy

High rates of retirement income illiteracy among people 60 or older could favor simple annuities in the future, a retirement income expert said. After all, the golden rule of investing is to avoid investing into what you do not understand.

Most Seniors Flunked a New Retirement Quiz. Could You Do Better?

May 12, 2017
By:
Walter Updegrave

Anyone wondering whether people in or nearing retirement are up to speed on creating a viable retirement income plan got an answer last week when the American College of Financial Services released the results of its Retirement Income Literacy Quiz.

Failing at Retirement: 11 Mistakes Baby Boomers Are Making

May 12, 2017
By:
Megan Elliott

Boomers, you get an F. Roughly 3 out of 4 people between the ages of 60 and 75 could not pass a quiz on basic retirement income concepts. That’s the conclusion of the 2017 Retirement Income Literacy Survey by the American College of Financial Services.

Retire With MONEY: Focus on What You Can Control

May 12, 2017
By:
Karen Damato

Nearly 75% of people ages 60 to 75 got a big fat F on a recent online quiz on “retirement income literacy,” contributor Walter Updegrave reports.

Help Your Clients Learn About Retirement Income Planning

May 12, 2017
By:
David Littell

The 2017 RICP® Retirement Income Literacy Survey once again reminded us that consumers do not know a lot about retirement income planning. Encourage your clients to watch these videos made for consumers in which Anna Rappaport talks about three important retirement concerns.

Most Estate Plans Aren't Dealing with Digital Assets Properly

May 11, 2017
By:
Jamie Hopkins

Estate planning is an unpopular topic because it often deals with the harsh realities of loss and death. Far too many people do not have an updated estate plan that meets their current needs, goals or desires. However, having a written estate plan in place is crucial to protecting your client's family, wealth and their own peace of mind.

CBO’s Crystal Ball to 2047: Older Population, Higher Interest Rates

May 9, 2017
By:
Alex Spanko

The United States of America, 2047: The population bumps up against 400 million people, with a full 22 percent of folks aged 65 and older — or 85.8 million seniors. The national debt rises so high that the country spends more money on interest payments than all of its discretionary programs combined, a scenario that’s never been seen in a half-century of tracking such metrics.

Americans Fail Retirement Planning Literacy Quiz, Low Literacy Linked to Poor Planning

May 8, 2017
By:
Jamie Hopkins

Americans nearing and in retirement don’t know enough about retirement income planning according to a new survey by The American College of Financial services, as roughly 75% of survey respondents failed the 38-question retirement planning quiz.

With “Gray Divorce” on the Rise, Reverse Mortgage Lenders See Opportunity

May 7, 2017
By:
Alex Spanko

Jamie Hopkins, associate professor at the American College of Financial Services, pointed to U.S. Census data from 2010 that showed the median 65-year-old couple held 68% of their wealth in their homes, compared to just 32% in “non-equity assets” such as cash and investments.

Americans Get 'F' in Retirement Literacy

May 5, 2017
By:
Marlene Y. Satter

A whopping three quarters of Americans fail a quiz on how to make their retirement dollars go far enough to see them all the way through retirement, although they think they know what they’re doing; 61 percent of respondents indicate they have high levels of retirement income knowledge.

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