RETIREES ON TRACK

August 8, 2014
As it’s the summer fund raising season on public television, this week we are revisiting an interview with two top personal finance journalists, both now at The Wall Street Journal. Jonathan Clements and Jason Zweig tackle the three greatest financial challenges facing Americans. Watch the episode here.
New this week, we are sharing some interesting research on retirement savings. It’s from a recent T. Rowe Price survey which found that recent retirees with 401 (k)s feel on track meeting their financial goals. Some of their key findings are that retirees are living on less – on average, around 66% of their pre-retirement income. However, nearly 60% report that are living as well or better than when they were working. Almost 90% are reasonably satisfied with retirement so far and most think that are better off compared with how their parents fared in retirement.

It’s some positive news, and shows retirees are doing pretty well, both financially and emotionally.

Consuelo Mack

A constant theme on WEALTHTRACK is how to achieve your financial goals in retirement.  This week, we have some positive news from a survey of retirees.  A recent T. Rowe Price study showed that new retirees with 401(k)s feel on track to meeting their goals.  Some of their key findings are the that retirees are living on less – on average, around 66% of their pre-retirement income – but nearly 60% report that are living as well, or better, than when they were working, and almost 90% are reasonably satisfied with retirement so far.  Most think that are better off compared with how their parents fared in retirement.  You can view the full report on our website.

It’s the beginning of the summer fund raising drive on public television and WEALTHTRACK will not be airing on many stations.  As a result, we are not taping new programs during this period.  As we have during past fund raising drives, we are  repeating several recent programs of particular interest to our viewers.

It’s great news that retirees are faring better than might be expected, but there are still plenty of financial challenges for most of us!  So this week, we are revisiting a program featuring two top personal finance journalists, both now at The Wall Street Journal.  Jonathan Clements recently returned to the paper to write a weekly column for The Wall Street Journal Sunday, having spent the last five years as Director of Financial Education for Citigroup’s Personal Wealth Management business. Before that Jonathan spent 18 years at the Journal where he wrote the “Getting Going” personal finance column. He is the author of several books including The Little Book of Main Street Money.

Jason Zwieg has written The “Intelligent Investor” column for the Journal since 2008. It is considered a must read by many WEALTHTRACK guests. Prior to that, Jason was a Senior Writer for MONEY Magazine. He is particularly well known for his research on the neuroscience of investing and how the brain can sabotage our financial judgment!  He wrote one of the first books on the subject, titled Your Money & Your Brain. He is also the author of The Little Book of Safe Money.

On our website, there is a new EXTRA this week.  It’s an extended interview with Clements and Zweig about the fees investors are charged for financial advice. Are you getting your money’s worth? They doubt it. What should you pay? They will tell us.

We hope you’ve had a chance to watch WEALTHTRACK Women on wealthtrack.com.  Our group of award-winning women financial advisors is tackling different topics for all of the women in your life. The current focus is how to stop a financial plan going off course.

We welcome your feedback on everything we are doing.

Have a great weekend and make the week ahead a profitable and productive one.

Best regards,

Consuelo

Mathews Asia

Getting Good Financial Advice

What do you need to be aware of when you are choosing a financial advisor? What are the hidden costs? Is it better to pay a commission or a percentage of your assets? Two top personal finance journalists, Jason Zweig and Jonathan Clements, both now at The Wall Street Journal, discuss getting good financial advice.

Watch the related WEALTHTRACK episode..


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