We all know that low- and middle-income workers generally don't have enough saved for retirement. Richer folks, it turns out, might be in the same boat. That's the takeaway from a new study by economists at the Schwartz Center for Economic Policy Analysis at the New School for Social Research. "We always knew the bottom and the top were different and that they were growing apart," said Teresa Ghilarducci, an economics professor at the New School for Social Research and a co-author of the report. "But we were surprised that our retirement system create...
You know you need to save for retirement and you know how you need to do it. But what happens when you get to your retirement years? Do you know how to turn your life savings into a steady, tax-efficient stream of income? For many individuals, the answer is no. And you're not alone. Most pre-retirees — 66 percent — have not calculated how much money they will need to cover their expenses in retirement, according to the Alliance for Lifetime Income. At the same time, just 38 percent of househo
Aditya Birla Sun Life AMC Limited had launched the Aditya Birla Sun Life Retirement Fund on February 19, 2019. The fund has collected Rs 166 crore in its NFO period, attracting investors from 241 locations from across the country. The fund in its NFO period that was open for two weeks garnered 23,743 applications, 42% of which are from B30 cities (beyond Top 30 cities) alone. Close to 40% of the applications have come through the SIP route, with a significant portion of it in Century SIP, ABSL MF’s offering of SIP with a life cover. The fund has also achieved in adding over 7,000 new customers to its existing investor base. The fund offers four investment options designed as per suitability of various age groups and different risk profiles of an individual that includes – The 30s pla
ICICI Prudential Mutual Fund has launched ‘ICICI Prudential Retirement Fund’, an open ended retirement solution oriented scheme having a lock-in of five years or till retirement age (whichever is earlier). The NFO will open on February 07 and will close on February 21. “The best time to plan for your retirement is when you are young and working. Investing in a long-term mutual fund schemes enable in building a good retirement corpus. It also gives flexibility of Systematic Withdrawal Plan (SWP) to meet regular cash flow needs, post retirement,” says Nimesh Shah, MD & CEO, ICICI Prudential AMC. “Mutual fund is a long-term vehicle to plan for retirement. With costs of living, medical expenses and inflation rising with each passing year, it has become important to plan
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