Some recent retirement statistics are just plain scary. According to the Center for Retirement Research at Boston College the average retirement savings of those in their 60’s is $111,000. This is hardly the nest egg needed to live on for perhaps 30 years. Retirees will need to continue to grow their nest egg while taking income distributions and, therefore, will need exposure to equities not just bonds. Luckily the financial industry is aware of this need and has developed some innovative, income generating, multi-asset products that are designed to allow investors to have their cake while eating it too. Please check out the latest retirement savings outlook on page 77 on the Voya Global Perspectives™ book.
The Latest Market Commentary From Our Strategists
Weekly Commentary & Statistics
It was a solid week in the equity markets, as better-than-expected earnings from a number of bellwether tech companies sent bourses higher. Both the S&P 500 and Nasdaq ended the week at record levels; the Nasdaq set a new high-water mark on Thursday — for the first time since 2000 — only to top it a day later. Meanwhile, continued unimpressive economic data had the interest rate on the benchmark ten-year Treasury drifting lower on the week, though it continued to trade in a fairly tight range.
Monthly Commentary & Outlook
- Domestic large cap indexes have lagged as oil prices and dollar strength weigh on giant multinationals.
- The negative impact of normalization has outpaced the expected benefits, a trend likely to be evident in first quarter earnings.
- Earnings in the energy sector are expected to drop precipitously, and the abandonment of new projects could impede future growth.
- Tighter U.S. policy combined with rampant easy money globally may be a game changer for asset allocation strategies.