AIER Research Fellow Luke Delorme was featured on Friday in a CNBC.com article on retirement planning. Luke had also received favorable press coverage for his January report on rethinking retirement guidelines, including mentions by The Aspen Institute, Forbes and Bloomberg. His report focused on the “seismic shift” that the retirement landscape has undergone, and he suggested that recent retirees with low savings continue to invest their money to grow their nest egg, rather than follow a “safe” withdrawal strategy.
On Friday, Delorme was quoted by Kelley Holland in CNBC’s story, “How to (safely) draw down your retirement savings.” The story was also featured on Today.com (the Website of The Today Show), The Fiscal Times, as well as Yahoo! Finance.
In the story, Delorme emphasizes that in addition to whatever savings retirees may have collected, almost everybody receives Social Security and many still receive some pension. That consistent stream of money, he said, should affect peoples’ decisions about what to do with their savings.
Holland wrote: “At the end of the day, there is no one right answer for all retirees, Delorme said. Everyone’s financial situation is different, and may vary widely from the models experts use to make recommendations. It’s important to have a plan, and not to be swayed by emotional decisions or the market’s ups and downs. But ‘ultimately, you should do what you’re comfortable with,’ he said. And rest assured that the retirement landscape will probably be very different for the people coming after you.”