Earnings Call, Conference Presentation, Panel, Fireside Chat
Retirement Security in the Wake of COVID-19 - Conference Call Series
- Future Milken Institute conference calls are expected to address US stimulus effects and philanthropy's role in recovery, with audience questions anticipated after 45 minutes and a recorded session available online the following day.
- The Employee Benefit Research Institute projects a US retirement deficit nearing $4 trillion, potentially rising by $150 to $160 billion by year-end, while half of adults over 50 possess $100,000 or less in retirement savings and half of that group holds nothing.
- An average 65-year-old couple is projected to require approximately $285,000 for medical and health costs alone between ages 65 and death, and the Social Security trust fund's depletion date has shifted from 2035 to 2029 due to COVID impacts.
- Global retirement gaps were $70 trillion in 2015 and are projected to reach $400 trillion by 2050, with the US gap currently at 142% of GDP and 75% of US heads of households aged 55 to 65 expected to have almost no chance of funding retirement needs.
- CalPERS serves approximately 2 million members with 700,000 receiving benefits, spending roughly 85% of funds within California, and only 3% of members receiving benefits exceeding $100,000 annually.
- Russell Investments anticipates lifespans reaching 100 absent further pandemic effects, while China's population is expected to become substantially older than the US within ten years amidst a global population increase of 4 billion people this century concentrated in Sub-Saharan Africa.
- In a zero-interest-rate environment, accumulating $1 million requires saving $25,000 annually for 40 years, compared to $10,000 annually if a 12% return is achieved, whereas UN data indicates no increase in the global number of children born this century.
- Edward Jones clients are shifting concern from physical to emotional and then financial well-being, with the firm expecting to balance life goals dynamically against market volatility and aiming to increase access to financial advice across generations.
- Stocks in bioscience, food retail, tech, and healthcare are expected to reach or remain at all-time highs, while sectors including restaurants, airlines, and hotels face potential shutdowns.
- A live system in Australia utilizing eight data points for personalized default asset allocations is anticipated to become the industry future, while individuals are encouraged to begin thinking about lifetime income upon entering the workforce rather than waiting until age 50.
- Post-crisis outlooks suggest a stronger role for government-individual partnerships regarding health safety, accelerated macroeconomic drivers, and a "silver lining" where private, public, and individual solutions are taken more seriously.
- More investors approaching retirement may face periods where they cannot withdraw funds as planned, yet 50% of Americans view sufficient retirement savings for a comfortable life as a top priority compared to 16% prioritizing personal wealth.