The U.S. economy grew at roughly 2.5% last year, below the 3% benchmark that policymakers have targeted going forward, indicating a general economic slowdown that might be difficult to reverse. Are retiring Baby Boomers to blame?
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The population is aging, that much we know. But it’s the implications of this for individuals that should really have the attention of financial advisors.
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As of 2013, the mean retirement savings of all working-age families was just over $95,000, according to a report from the Economic Policy Institute (EPI). Broken down by age group, the average 60+ year old had about $163,000 in total retirement savings (notably down from $211,000 before the financial crisis) while those under 40 barely peaked above $40,000.
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iSelect is pleased to welcome David Yocom, a 2017 Venture For America Fellow, to its Ventures team, where he will be focused on investment due diligence and portfolio maintenance. As a Venture Analyst, he will also be helping to build out iSelect’s Market Networks program and assisting in other outreach efforts.
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