When MTV launched in the early 1980s it offered the perfect soundtrack for a generation focused on becoming successful and accumulating wealth.
But while one of the channel’s most iconic videos was “Money for Nothing” by Dire Straits, many of those bright young things of the time are now headed for a retirement that could resonate more with the band name than the song title.
Most Gen Xers are yet to retire and are perhaps regretting relying too much on the easy money attitude of the 1980s. As reality bites, those in their 40s and 50s are increasingly worried about their retirement finances, according to a new report from Corebridge Financial.
Just 32% of Gen Xers who took part in the firm’s research are confident that they can manage their retirement money to provide income for as long as they live with almost 2 in 3 concerned about quality of life (64%) or running out of money (63%) if they were to live to 100.
In a whitepaper titled “Don’t You (Forget About Me)”: Getting the MTV generation successfully to and through retirement, which found that Gen X is the least confident generation on fully funding retirement, six key current financial concerns are highlighted:
It also found that more than two thirds of Gen Xers expect to work beyond 65, including almost three in ten who say they are likely to still be working after 70.
While the Corebridge research found that Gen Xers are willing to focus on vital retirement finance matters such as securing a lifetime income, paying off debt, and having an estate plan, it also revealed that this generation is also often slow to consult an advisor, despite those who do so being nearly twice as confident in their retirement preparations.
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
