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Unconventional Wisdom on Retirement Preparedness
Investment Company Institute [ICI] Link to more items from this source
[Opinion]
Aug. 5, 2014
"There are at least three reasons why adequacy standards in the typical replacement rate study are too high: [1] Assumptions about the pattern of savings over workers' life cycles raise the standard for younger workers.... [2] The assumption that household expenses don't change when households transition from work to retirement raises the standard.... [3] The assumption that household expenses remain flat throughout retirement raises the standard.... The danger of accepting the conventional wisdom is two-fold. First, the notion of a widespread shortfall deflects attention from those groups actually at risk in retirement ... Second, it obscures the fact that the U.S. retirement system works well for the majority of households."

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