financial planning

A More Nuanced 4% Rule?
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
In December 2022, Morningstar adjusted its recommended starting annual withdrawal rate for balanced retirement portfolios upward from 3.3% to 3.8%. The revision was based on an assessment of factors including recent equity valuations, bond yields and inflation. This new rate, however, is still less than the 4% figure commonly cited in financial planning literature. The  Read More →
Survey Says…What’s Your Take on Financial Wellness Programs?
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
A recent comprehensive TIAA survey of financial wellness plan participant perceptions may be helpful to plan sponsors who have, or are considering implementing, a wellness plan for their employees. Employees’ definition of financial wellness varies considerably: “having the means to take care of your family and others” (53%), “not worrying about money or debts” (51%),  Read More →
Financial Wellness Needs a Long and Short Game to Work for Both Participants and Organizations
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
In the retirement plan industry, all too often we tend to conflate financial wellness with retirement readiness… …whether that means confidence in obtaining retirement goals or being on track to reach post-employment financial targets. However, that limited view may fail to paint a complete picture for many participants. For example, the New York Life Wealth  Read More →

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