Faculty Publications

Title

Why the Stakes are Higher with Retirement Income Planning than Retirement Savings

Document Type

Article

Publication Date

4-10-2014

Abstract

As National Retirement Planning Week charges ahead, the difficulties that individuals face at the various stages of retirement planning is a topic ripe for discussion. One aspect of retirement planning often underrepresented in financial planning discussions is the importance of switching from a retirement savings mindset to a retirement income planning mindset. Nearly 8,000 baby boomers retire each day, each of whom requires a unique retirement income plan geared toward replacing his or her paycheck with stable sources of income in order to meet individualized retirement expenses.