401(k) Specialist Issue 3 - 2022 - 5
401(k) NEWS YOU CAN USE
Inflation be Damned, One Generation
Sticking with 401(k) Contributions
IT LOOKS LIKE GEN X is cutting back on a lot to protect their financial
well-being in the wake of rampant inflation, but one area where
they are generally not cutting back is with retirement contributions.
Research from State Street Global Advisors found that more than
a third (36%) of Gen X has reduced contributions to their regular
savings to help weather inflation. This is compared to just 18% of
Millennials and Boomers. Yet only 5% of Gen X say they have cut
back the amount they contribute to retirement accounts, compared
with 18% of Millennials and 11% of Boomers.
Let that sink in. More than three times as many Millennials and
twice as many Boomers have cut their retirement contributions
compared to Gen X.
State Street's Inflation Impact Survey also found Gen X is considerably
more worried about being able to afford to retire
when planned, with 59% of Gen X expressing concern,
compared to 41% of Millennials and 31% of Boomers.
ONLINE
EXTRA
'Perfect Storm' Causing Lower Retirement
Confidence for Certain Women
" UNMARRIED WOMEN WORKERS and retirees have lower retirement
confidence than their married counterparts and are more
likely to have lower incomes and assets, " according to the Employee
Benefit Research Institute.
Unmarried retirees are more likely to say their expenses are
higher than they expected and also more likely to retire earlier than
planned.
Key findings include:
* Divorced and single, never-married women workers are more
likely to have lower financial assets than married women workers.
Just 27% of married women workers have assets of less
than $25,000 compared with just over half for divorced women
workers (58%) and single, never-married women workers (56%).
* Married women workers are more likely to say that they are
confident they will have enough money to live comfortably
throughout their retirement years than both divorced and single,
never-married women workers.
* Married women workers are more likely to agree that they feel
knowledgeable about managing their day-to-day finances than
single, never-married women workers. The share of divorced
women workers who feel knowledgeable about managing
finances is not significantly different from that of married or
single, never-married women workers.
ISSUE 3 2022 | 401kSpecialist.com
5
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401(k) Specialist Issue 3 - 2022
Table of Contents for the Digital Edition of 401(k) Specialist Issue 3 - 2022
Table of Contents
401(k) Specialist Issue 3 - 2022 - Cover1
401(k) Specialist Issue 3 - 2022 - Table of Contents
401(k) Specialist Issue 3 - 2022 - 1
401(k) Specialist Issue 3 - 2022 - 2
401(k) Specialist Issue 3 - 2022 - 3
401(k) Specialist Issue 3 - 2022 - 4
401(k) Specialist Issue 3 - 2022 - 5
401(k) Specialist Issue 3 - 2022 - 6
401(k) Specialist Issue 3 - 2022 - 7
401(k) Specialist Issue 3 - 2022 - 8
401(k) Specialist Issue 3 - 2022 - 9
401(k) Specialist Issue 3 - 2022 - 10
401(k) Specialist Issue 3 - 2022 - 11
401(k) Specialist Issue 3 - 2022 - 12
401(k) Specialist Issue 3 - 2022 - 13
401(k) Specialist Issue 3 - 2022 - 14
401(k) Specialist Issue 3 - 2022 - 15
401(k) Specialist Issue 3 - 2022 - 16
401(k) Specialist Issue 3 - 2022 - 17
401(k) Specialist Issue 3 - 2022 - 18
401(k) Specialist Issue 3 - 2022 - 19
401(k) Specialist Issue 3 - 2022 - 20
401(k) Specialist Issue 3 - 2022 - 21
401(k) Specialist Issue 3 - 2022 - 22
401(k) Specialist Issue 3 - 2022 - 23
401(k) Specialist Issue 3 - 2022 - 24
401(k) Specialist Issue 3 - 2022 - 25
401(k) Specialist Issue 3 - 2022 - 26
401(k) Specialist Issue 3 - 2022 - 27
401(k) Specialist Issue 3 - 2022 - 28
401(k) Specialist Issue 3 - 2022 - 29
401(k) Specialist Issue 3 - 2022 - 30
401(k) Specialist Issue 3 - 2022 - 31
401(k) Specialist Issue 3 - 2022 - 32
401(k) Specialist Issue 3 - 2022 - 33
401(k) Specialist Issue 3 - 2022 - 34
401(k) Specialist Issue 3 - 2022 - 35
401(k) Specialist Issue 3 - 2022 - 36
401(k) Specialist Issue 3 - 2022 - 37
401(k) Specialist Issue 3 - 2022 - 38
401(k) Specialist Issue 3 - 2022 - 39
401(k) Specialist Issue 3 - 2022 - 40
401(k) Specialist Issue 3 - 2022 - 41
401(k) Specialist Issue 3 - 2022 - 42
401(k) Specialist Issue 3 - 2022 - 43
401(k) Specialist Issue 3 - 2022 - 44
401(k) Specialist Issue 3 - 2022 - Cover3
401(k) Specialist Issue 3 - 2022 - Cover4
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