The 60-Plus Group Holds Nearly $6.5T In IRA Assets - InsuranceNewsNet

Advisor News

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Advisor News
Topics
  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property & Casualty
  • Advisor News
  • Washington Wire
  • Fiduciary Rule
  • INN Exclusives
  • Newswires
  • INNsider
  • INN Exclusives
  • NewsWires
  • Magazine
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • ★ Regulation News
  • Podcast
  • Magazine
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Susbcribe

Get Social

  • Facebook
  • Twitter
  • LinkedIn
  • Google+
Insider
Advisor News
Advisor News RSS Get our newsletter
Order Prints Share
June 27, 2018 Advisor News No comments Views: 152

The 60-Plus Group Holds Nearly $6.5T In IRA Assets

June 2018, Boston. New research from Cerulli Associates, a global research and consulting firm, finds that individual retirement account (IRA) assets surpassed $9 trillion in 2017. Notably, 70% of those assets are held by individuals age 60 and older.

"A significant driver of IRA asset growth is rollover activity from defined contribution (DC) plans, especially for the age 60 and older cohort," states Dan Cook, analyst at Cerulli.

"As investors approach retirement, and transition into this life stage, their financial focus shifts from accumulating assets to drawing down assets to generate retirement income," says Cook. "This draw-down phase is far more complex than the accumulation phase as retirees often rely on a mosaic of sources, such as IRA savings, 401(k) savings, and Social Security, for retirement income."

"An investor's draw-down strategy can have significant implications for taxes, duration of income, and, ultimately, lifestyle in retirement," continues Cook. "Given the idiosyncratic nature of retirement income planning, investors generally require the assistance of a financial professional. However, some financial advisors are not necessarily well versed on nuanced topics such as Social Security claiming strategy or healthcare expenses."

"Asset managers and IRA providers can create value by providing thought leadership content and/or planning tools that help financial advisors meet the needs of investors age 60 and older," says Cook. "Given the substantial amount of IRA assets held by investors near retirement or in retirement, income planning will become an increasingly important topic going forward."

Cerulli's latest report, U.S. Retirement End-Investor 2018: IRA Owners and 401(k) Plan Participants, contains the results of Cerulli's new IRA Owners Survey, which polls more than 1,000 IRA owners, including both active employees and retirees. The new survey addresses IRA owners' decision-making processes regarding investment selection, their use of financial advisors, and broader strategies in preparing for retirement. The report also features Cerulli's age-based IRA market sizing, which provides a breakout of assets and account ownership by age-range. Cerulli rounds out its coverage of end-investors in the retirement market with findings from its 401(k) Plan Participant Survey and comprehensive analysis of opportunities in the IRA rollover market.

 

 

Older

Rep. Walz Issues Statement on VA Electronic Health Record Modernization Program

Newer

Intalere Announces Comprehensive Hospice and Palliative Care Consulting Solution and Program

Annuity News

  • Securian Financial Posts Solid 2018
  • SEC Extends Comment Period For Proposed Rules On VA And Variable Life Disclosures
  • ‘Dream House’ Raffle Winner Choice: Historic California Home Or $5M Annuity?
  • RGA Announces Longevity Transaction With Manulife
  • Jackson National Inks Deal To Distribute Annuities To RIAs
More Annuity News

Health/Employee Benefits

  • Insurance Networks, Doctor Referrals Don’t Always Offer Full Picture
  • What Medicare For All Might Look Like If It Really Happened
  • Furloughed Workers Withdrew From Retirement Funds: Study
  • Democrats Roll Out Bill To Let Americans Buy Into Medicare At 50
  • Survey Finds Health Plans Are Struggling With Value-Based Reimbursement
More Health/Employee Benefits

Life Insurance

  • Securian Financial Posts Solid 2018
  • Understanding The Benefits Of Whole Life Insurance
  • Allianz Life Reports Solid 2018 Financial Results
  • Man Who Defraud Union In Life Insurance Scam Sentenced To Probation
  • SEC Extends Comment Period For Proposed Rules On VA And Variable Life Disclosures
Sponsor
More Life Insurance

Property and Casualty News

  • Opinion: Thwarting Trump On Climate Change Denial
  • How To Grow A Marijuana Business When Regulations Are Up In The Air
  • Governors Group Fighting Climate Change By Pursuing Reduced Carbon Emissions
  • Cost Of Winter Storms/Extreme Cold Lead To Billion-Dollar Damage In The U.S.
  • More Than 1.3M In Puerto Rico Face Food Shortage If U.S. Drops Hurricane Aid
More Property and Casualty News

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.
select Newsletter Options

Most Popular

  • What If The Market Goes Up? Why An FIA Is Better Than Stocks
  • NAIC Group Puts IUL Illustration ‘Multipliers’ Under Microscope
  • Understanding The Benefits Of Whole Life Insurance
  • NAIC To Begin Debate On IUL Illustrations
  • Automation, Big Data Will Drive 2019 Insurance Trends

Featured Offers

Text Ads

Press ReleasesAll press releases

  • Great American’s Annuity Customers Share Their Secrets to a Great Retirement
  • Securian Financial Introduces Affordable, Protection-Focused IUL with No-Lapse Guarantee
  • TD Ameritrade Institutional Integrates with iPipeline to Automate New Account Opening
  • RFP R2019-78
  • Bunker Launches Live Certificates of Insurance, A Modern Solution to Insurance Fraud and Non-Compliance
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty News
  • Advisor News
  • Washington Wire
  • Regulation

Top Sections

  • INN Exclusives
  • INN Insider

Our Company

  • About
  • Editorial Staff
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter Google+
© 2019 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • Sitemap
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.