Money Matters Episode 79- Americans Flunk Retirement Income Readiness, Now What? W/ Jamie Hopkins

Retirement income literacy is of essential importance to the financial security of retired Americans. With limited or no ability to earn additional money through work, this group must know how much they need to accumulate by the time they retire and know how to manage their money during retirement. Further, retirement income literacy will become more important  as the number of people entering retirement with defined benefit plan guaranteed lifetime income decreases, life expectancy at age 65 increases, and Social Security income decreases due to increases in the age of entitlement for full benefits.  In addition, the increases in Medicare premium taken out of Social Security retirement benefits each year will likely be higher than the cost of living adjustments to Social Security.   We were joined today by Associate Professor of Taxation, Associate Director of the New York Life Center for Retirement Incomeand Larry R. Pike Chair in Insurance & Investments for the American College, Jamie Hopkins.     To find out more about the American College visit the website at: www.theamericancollege.edu Also mentioned on the show today: Forbes Article about new MYRA by Jamie Hopkins You can listen live by going to www.kpft.org and clicking on the HD3 tab. You can also listen to this episode and others by podcast at: http://directory.libsyn.com/shows/view/id/moneymatters or www.moneymatterspodcast.com  #kpft #theamerican college #forbes