TED Conversations

Closing Statement from Christine C. Marcks, Prudential Retirement

Thank you all for a dynamic conversation over the past three weeks around how we -- as individuals, as financial services providers and as a society -- can help address the challenge of retirement as people live longer. TED Conversations is a new forum for us, and we found your comments and this experience very insightful.

I believe there are concrete steps people can take to better prepare for their retirement. For starters, workers can improve their savings and investing behavior. Secondly, participants in workplace plans such as 401(k)'s should try to include some sort of guaranteed income component in their retirement planning.

We will also continue this conversation in other forums, and will add to the national debate through white papers on our company's Research & Perspectives site, http://research.prudential.com/view/page/rp .


Christine C. Marcks
Prudential Retirement

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  • Apr 18 2012: Being a financial educator and regularly sitting with middle income families, a common monthly retirement figure which 9 out of 10 couples usually say they will be happy to live with, is £1,000 per month (UK). They are many ways in which this amount or more can be achieved and as a no brainer, the earlier one starts, the easier it is to build something which creates this amount, whether it be a pension, equity funds, property income, residual income etc
    The state provides a measly £30 a week or so. We need to learn to be more responsible for our financial future and this really needs to begin at school/college level. Most of it is common sense but is not often common knowledge nor common practice.
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      Apr 19 2012: Jon, I definitely agree that there is more room for financial education about retirement. That said, part of the challenge is that a lot of information is already available to people, but either they're not using it, or it's not impacting their financial behavior. May be information overload. We are trying to figure out a way to either encourage more people to draw upon the available information or come up with simpler solutions to impact retirement savings behavior. Sometimes, giving people a chance to interact with a game or tool helps. For example, we have a retirement income calculator, which translates current or future savings into retirement income that has had a significant impact on the amount people contribute to their retirement plans.

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