You May Need a Plan "C"

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Lower personal savings rates and household net worth tend to increase the burden on future savings to fund retirement security; rising stock and housing markets have driven household net worth upwards.

The surging stock markets and continued housing price appreciation has brought household wealth to an all-time high of $96.2 trillion. This may be a good time for investors to think about how they are going to keep their standard of living in their retirement, which can frequently last more than 30 years. Many workers say their plan b is to just keep working until they drop. However, a recent survey by the Employee Benefits Research Institute found that although 38 percent of workers anticipate working after age 70, only 4 percent do. You may need a plan c. An effectively diversified portfolio can help investors stay in the market and help build wealth over the long term. Please see the history of household wealth on page 58 of the Voya Global Perspectives™ Book.

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