The Best Ways To Ensure Your Assets Last Through Retirement

As life expectancy increases, so does the amount of financial planning needed to sustain a comfortable retirement.

As life expectancy increases, so does the amount of financial planning needed to sustain a comfortable retirement. The latest research reveals that the majority of Americans approaching their senior years are both overconfident in their financial position and under informed about the skills and strategy needed to make their assets last. Six in ten people (62%) aged 50+ today provide financial support to family members and 5.8 million children live in grandparents' homes throughout the U.S, but a study conducted by the American College of Financial Services found that only 11% of retirement-age women could pass a basic quiz on how to make their retirement assets last through the rest of their lifetime. Most people surveyed were unsure when was the appropriate time to claim social security and the '4%' rule was a mystery to 70 percent of those nearing retirement stage. So what are the solutions and how can people best prepare themselves for their post work years? Amelia Martyn-Hemphill speaks with David Littell, RICP Retirement Income Program Director at The American College of Financial Services to find out what tools and strategies Americans need to know about when planning for retirement and the future.