IRI Releases Retirement Planning Pyramid Tool
WASHINGTON, DC, April 12, 2010 -- The economic turbulence of the past several years has forced America's 78 million Baby Boomers to reexamine and redefine their retirement savings strategies. According to the Center for Retirement Research at Boston College, more than half of American households are "at risk" of being unable to maintain their pre-retirement standard of living in retirement.
To help raise public awareness of the need to comprehensively plan for retirement, the Insured Retirement Institute (IRI) is sponsoring National Retirement Planning Week® April 12-15. Kicking off its week-long education efforts, IRI today released its Retirement Planning Pyramid, specifically designed for use by consumers and financial advisors alike.
"Retirement planning and preparedness are at critically inadequate levels, with studies showing the majority of Americans lack any kind of retirement savings strategy," said Insured Retirement Institute President and CEO Cathy Weatherford. "As part of our week-long efforts to engage consumers about the critical need to plan for retirement, IRI developed the Retirement Pyramid to serve as a visual guide to help them build a sound financial roadmap. While no one retirement plan will meet the needs of every consumer, a weighted mix of long-term assets, guaranteed income, insurance and investments can help ensure that retirement funds are well positioned. And with growing interest by both consumers and the Obama administration to secure lifetime income, the value of guaranteed investment strategies has never been more essential."
The IRI Retirement Planning Pyramid is a visually simple, but powerful tool that can help consumers conceptualize how to balance financial priorities. Financial advisors can leverage the pyramid to help explain investment decisions to their clients as they work together to produce a healthy and vital financial future. And while no two people will have exactly the same retirement plan, using a financial fitness pyramid can offer possibilities of how to balance investments.
National Retirement Planning Week® is sponsored by The National Retirement Planning Coalition -- a group of prominent financial industry, education and advocacy organizations that have joined together to raise public awareness of the need for comprehensive retirement planning. The Coalition is headed by the IRI and includes the American Council of Life Insurers (ACLI), the Center for Retirement Research at Boston College and Americans for Secure Retirement (ASR).
The Coalition recognizes that the need to educate Americans on retirement planning is an ongoing effort and is committed to making this a national priority. The National Retirement Planning Week® and other coalition activities will demonstrate that it is possible to "Retire On Your Terms" if comprehensive retirement plans are properly developed and managed. To support these education efforts, the coalition has re-designed and re-launched www.retireonyourterms.org - offering resources to both consumers and financial professionals alike, in order to help them stay focused on long-term financial goals.
About the Insured Retirement Institute
The Insured Retirement Institute (IRI) is a not-for-profit organization and is the authoritative source of all things pertaining to annuities, insured retirement strategies and retirement planning. IRI exists to vigorously promote consumer confidence in the value and viability of insured retirement strategies, bringing together the interests of the industry, financial advisors and consumers under one umbrella. IRI's mission is to: encourage industry adherence to highest ethical principles; promote better understanding of the insured retirement value proposition; develop and promote best practice standards to improve value delivery; and to advocate before public policy makers on critical issues affecting insured retirement strategies. Visit www.IRIonline.org to experience the new, vast resources of the new Insured Retirement Institute for yourself.
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