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 .

Sincerely

Christine C. Marcks
President,
Prudential Retirement

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    Apr 29 2012: I think we should focus less on the traditional concept of retirement, as a time when someone does not earn any money. More and more people will need to earn money into their 70's, and the real question for me is: what jobs will be available for those past 70, which still earn a reasonable wage? Most over 70 won't be able or willing to travel, work 40+ hours or have the strenghth or health to do what they were able to earlier in their careers. I see it as a duty of governments and big companies to design jobs targetted at the older employee, enabling them to work for as long as they want (within reason). I assume technology will bring a lot more flexibility than we have today. I think we are at the beginning of a change in jobs design in organisations and everyone's view of retirement.

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