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 27 2012: I have to agree with Jose, but I would like to propose what I would see as the best solution. It's not real to try to find a way to increase the retirement pension to be able to last 30 years. That's not the idea of a retirement pension. The idea of it, is to have something to live of when you reach a point when you can't work anymore. My grandfather worked after the retirement till he was 76. He did it because it was good for him not for the money.

    Considering these two ideas, I think the best solution is to raise the retirement age unless there is a health condition that unable the person to continue working and offer a retirement pension that works progressively. A plan where after a certain age the person starts working less hours or he retires from his job and the company that provides the retirement plan offers him a job that is designed for this plan, like a freelance work of their specialty. That would allow them to stay active, to continue contributing to society and earn money.

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