Spiking inflation coupled with a sinking stock market have forced more investors to tap their retirement savings for cash.
The retirement savings legislation signed into effect by President Biden last week as part of a government funding bill includes 92 provisions designed to boost the number of Americans saving for retirement, as well as the size of their nest eggs.
Yackel will be joining Janney as executive vice president after co-founding estate planning platform Trucendent.
While more investors saw their financial condition deteriorate in 2022, their advisors are turning last year’s troubles into a teachable moment.
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Doctors invest significant time and money into their careers upfront, which means starting out with a huge debt load. Meanwhile, their earnings don’t reach full potential until much later in life.
More than any other generation surveyed, members of Gen Z improved their financial habits during the pandemic, with 70% reporting higher savings over that time period.
One thing every investor, and especially retirees, could plainly see was that they were making money for practically nothing each month or quarter for the first time in ages.
Almost one in three Americans say their finances are in worse shape now than at this time a year ago, up from the 19% who felt that way in 2021.
Offerings of the obscure, yet historically significant, financial product have been popping up in the global retirement marketplace of late.
