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New research finds that the people most likely to benefit from target date funds are also the people inclined to invest their 401(k)s in them – unsophisticated investors. Retirement and financial literacy researchers long ago established the pitfalls of our nation’s do-it-yourself system of retirement saving (i.e., people don’t save at all or don’t sav…
The brief’s key findings are: Today’s workers face a brewing retirement crisis due to: a growing need for income driven by longer lifespans, rising health costs, and low interest rates; and reduced support from Social Security and defined benefit pension plans. Fortunately, the solutions are at hand: Policymakers should shore up Social Security with more revenue,…
