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 21 2012: As someone who has practised as a financial adviser in the UK since 1986 it's clear that the path most people are on with regard to planning for retirement is wholly inadequate. In the UK the average pension fund for a retiree in the private sector is less than £30,000! We have been seduced by those that went before that retirement at 60 or before is a realistic option. Unfortunately the war generation like my own mum have had such a good time in terms of healthcare, pension and state assistance that younger people believe they too can have this. They can't and they won't. Retirement will be an experience for those in their 70's at the earliest. Governments needs to create 'sinking' funds for future retirees and investments need to be made for retirement from birth! Those investment need to be locked up until age 65. Access is not an option and compounding can then really work it's magic!

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