Retirement planning guidelines
a Delphi study of financial planners and educators
DOI:
https://doi.org/10.1016/S1057-0810(01)00069-5Keywords:
Asset allocation, Retirement guidelines, Retirement needs analysis, Retirement planningAbstract
Retirement planning guidelines were determined using a Delphi research design among 188 financial planners and educators. Consensus was found for using a 4% inflation rate, an 8.5% rate of return on investments, and a replacement ratio of 70 – 89% of current income when making retirement projections. Nine-tenths of the experts agreed that families should have achieved 50–60% of their retirement savings goal by age 50 and 85–90% by age 60. Regarding asset allocation, over 60% felt it was prudent to start moving toward more conservative investments about 3–5 years before retirement. Recommendations were developed on the proportion of growth-oriented equities to hold at various points prior to and after retiring. While the level of consensus was high, occupational and gender differences were noted. © 2001 Elsevier Science Inc. All rights reserved.
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