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Retirement Facts Darrin J. Shallcross   Financial Planner Darrin J. Shallcross is a registered representative of Lincoln F...
<ul><li>Any discussion pertaining to taxes in this communication (including attachments) may be part of a promotion or mar...
<ul><li>In 1950, what was the  </li></ul><ul><li>average life expectancy? </li></ul><ul><ul><li>65 years </li></ul></ul><u...
<ul><ul><li>68 years </li></ul></ul>
<ul><li>Today, the life expectancy for people  </li></ul><ul><li>who live to age 65 is an additional  </li></ul><ul><li>18...
<ul><li>The life expectancy for those who  </li></ul><ul><li>live to age 65 is higher for women  </li></ul><ul><li>(20 yea...
<ul><li>In 1950, what was the average  </li></ul><ul><li>length of retirement? </li></ul><ul><ul><li>8 years </li></ul></u...
8 years
<ul><li>The average length of retirement has  </li></ul><ul><li>risen to about 20 years in 2007 </li></ul>Source:  Smart M...
<ul><li>Today, the average price of a  </li></ul><ul><li>single-family home is $274,600.  </li></ul><ul><li>What was the a...
$44,200
<ul><li>If you’re 65 today, an expense that currently costs $100 will cost $180 by the time you’re 80, assuming an inflati...
<ul><li>What percent of Americans are expected  </li></ul><ul><li>to need long-term care? </li></ul><ul><ul><li>45% </li><...
50%
<ul><li>Health care costs have become a big concern for retirees: </li></ul><ul><ul><li>54% of people are forced to retire...
<ul><li>What percent of nursing home residents exhaust their resources within 12 months? </li></ul><ul><ul><li>50 </li></u...
<ul><ul><li>70% </li></ul></ul>
<ul><li>In 2007, total national health expenditures were expected to rise 6.9% — two times the rate of inflation </li></ul...
<ul><li>What percent Americans have not  </li></ul><ul><li>calculated how much money they will  </li></ul><ul><li>need to ...
47%
<ul><li>44% of workers who calculated a goal changed their retirement planning </li></ul><ul><li>Of those individuals, 59%...
<ul><li>Social Security replaces what percentage of the average worker’s pre-retirement income? </li></ul><ul><ul><li>43% ...
43%
<ul><li>71% of workers are  not too  or  not at all  confident that  Social Security  will continue to provide benefits of...
<ul><li>64% of workers are  not too  or  not at all  confident that  Medicare  will continue to provide benefits of at lea...
<ul><li>By the year 2050, what percentage of adults are expected to be 65 or older? </li></ul><ul><ul><li>24% </li></ul></...
27%
<ul><li>Fewer retirees believe they can simply cut back on their lifestyle if it looks like they might outlive their retir...
<ul><li>Delaying retirement by five years would enable individuals, on average, to increase annual retirement spending by ...
56%
<ul><li>Only 5% of workers think saving for retirement is their most pressing financial concern. Here’s what concerns them...
<ul><li>What is the percentage of workers who are  very  confident about having enough money for a comfortable retirement?...
18%
<ul><li>The percentage of workers who are  very  confident about having enough money for a comfortable retirement decrease...
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  • THIS COVER SLIDE IS FOR LFA REPS ONLY; DELETE THE COVER SLIDES FOR SAGEMARK AND LFS.
  • THIS DISCLOSURE SLIDE IS FOR LFA REPS ONLY; DELETE THE DISCLOSURE SLIDES FOR SAGEMARK AND LFS. (click)
  • Transcript of "Ris Fact Slides"

    1. 1. Retirement Facts Darrin J. Shallcross Financial Planner Darrin J. Shallcross is a registered representative of Lincoln Financial Advisors Corporation
    2. 2. <ul><li>Any discussion pertaining to taxes in this communication (including attachments) may be part of a promotion or marketing effort. As provided for in government regulations, advice (if any) related to federal taxes that is contained in this communication (including attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code. Individuals should seek advice based on their own particular circumstances from an independent tax advisor. </li></ul><ul><li>Securities and investment advisory services offered by Lincoln Financial Advisors Corp., a broker-dealer and registered investment advisor. In MI, securities and advisory services offered through Lincoln Financial Advisors Corp., a broker-dealer, registered investment advisor and insurance agency. In CA, insurance offered through Lincoln Marketing and Insurance Agency, LLC and Lincoln Associates Insurance Agency, Inc. and other fine companies. In WA, insurance offered through Lincoln Financial Advisors Corporation and LFA, Limited Liability Company and other fine companies. In UT, LFA Insurance Agency – insurance offered through Lincoln affiliates and other fine companies. In all other states, insurance offered through Lincoln affiliates and other fine companies. CRN200805-2016670 </li></ul>
    3. 3. <ul><li>In 1950, what was the </li></ul><ul><li>average life expectancy? </li></ul><ul><ul><li>65 years </li></ul></ul><ul><ul><li>68 years </li></ul></ul><ul><ul><li>72 years </li></ul></ul>68 years Source: Centers for Disease Control & Prevention, National Center for Health Statistics, National Vital Statistics Program, 2007.
    4. 4. <ul><ul><li>68 years </li></ul></ul>
    5. 5. <ul><li>Today, the life expectancy for people </li></ul><ul><li>who live to age 65 is an additional </li></ul><ul><li>18 years, or to age 83 </li></ul>Source: Centers for Disease Control & Prevention, National Center for Health Statistics, National Vital Statistics Program, 2007.
    6. 6. <ul><li>The life expectancy for those who </li></ul><ul><li>live to age 65 is higher for women </li></ul><ul><li>(20 years) than for men (17 years) </li></ul>Source: Centers for Disease Control & Prevention, National Center for Health Statistics, National Vital Statistics Program, 2007.
    7. 7. <ul><li>In 1950, what was the average </li></ul><ul><li>length of retirement? </li></ul><ul><ul><li>8 years </li></ul></ul><ul><ul><li>13 years </li></ul></ul><ul><ul><li>17 years </li></ul></ul>8 years Source: Smart Money magazine, 2007.
    8. 8. 8 years
    9. 9. <ul><li>The average length of retirement has </li></ul><ul><li>risen to about 20 years in 2007 </li></ul>Source: Smart Money magazine, 2007.
    10. 10. <ul><li>Today, the average price of a </li></ul><ul><li>single-family home is $274,600. </li></ul><ul><li>What was the average price of a </li></ul><ul><li>single-family home in 1976? </li></ul><ul><ul><li>$44,200 </li></ul></ul><ul><ul><li>$51,700 </li></ul></ul><ul><ul><li>$57,300 </li></ul></ul>Source: U.S. Census Bureau, New One-Family Houses Sold. $44,200
    11. 11. $44,200
    12. 12. <ul><li>If you’re 65 today, an expense that currently costs $100 will cost $180 by the time you’re 80, assuming an inflation rate of 4% </li></ul>Source: U.S. Census Bureau, New One-Family Houses Sold.
    13. 13. <ul><li>What percent of Americans are expected </li></ul><ul><li>to need long-term care? </li></ul><ul><ul><li>45% </li></ul></ul><ul><ul><li>50% </li></ul></ul><ul><ul><li>65% </li></ul></ul>Source: Aging & Elder Health Week, April 2007. 50%
    14. 14. 50%
    15. 15. <ul><li>Health care costs have become a big concern for retirees: </li></ul><ul><ul><li>54% of people are forced to retire because of health problems or disability </li></ul></ul><ul><ul><li>44% spend more than expected on health care expenses </li></ul></ul>Source: Employee Benefit Research Institute’s Retirement Confidence Survey ® , 2008.
    16. 16. <ul><li>What percent of nursing home residents exhaust their resources within 12 months? </li></ul><ul><ul><li>50 </li></ul></ul><ul><ul><li>60% </li></ul></ul><ul><ul><li>70% </li></ul></ul>Source: Nursing Home & Elder Business Week, October 2007 . 70%
    17. 17. <ul><ul><li>70% </li></ul></ul>
    18. 18. <ul><li>In 2007, total national health expenditures were expected to rise 6.9% — two times the rate of inflation </li></ul><ul><li>Total health expenditure were $2.3 trillion in 2007, or $7,600 per person </li></ul><ul><li>U.S. health care spending is expected to reach $4.2 trillion in 2016 </li></ul>Source: National Coalition on Health Care website. From Poisal, J.A., et al, Health Spending Projections Through 2016: Modest Changes Obscure Part D’s Impact. Health Affairs (February 2007).
    19. 19. <ul><li>What percent Americans have not </li></ul><ul><li>calculated how much money they will </li></ul><ul><li>need to save for retirement? </li></ul><ul><ul><li>33% </li></ul></ul><ul><ul><li>39% </li></ul></ul><ul><ul><li>47% </li></ul></ul>47% Source: Employee Benefit Research Institute’s Retirement Confidence Survey ® , 2008.
    20. 20. 47%
    21. 21. <ul><li>44% of workers who calculated a goal changed their retirement planning </li></ul><ul><li>Of those individuals, 59% started saving or investing more </li></ul>Source: Employee Benefit Research Institute’s Retirement Confidence Survey ® , 2008.
    22. 22. <ul><li>Social Security replaces what percentage of the average worker’s pre-retirement income? </li></ul><ul><ul><li>43% </li></ul></ul><ul><ul><li>53% </li></ul></ul><ul><ul><li>63% </li></ul></ul>Source: Economic Policy Institute analysis of Social Security Administration 2006, Table VI.F10 43%
    23. 23. 43%
    24. 24. <ul><li>71% of workers are not too or not at all confident that Social Security will continue to provide benefits of at least equal value to the benefits retirees receive today </li></ul>Source: Employee Benefit Research Institute’s Retirement Confidence Survey ® , 2008.
    25. 25. <ul><li>64% of workers are not too or not at all confident that Medicare will continue to provide benefits of at least equal value to the benefits retirees receive today </li></ul>Source: Employee Benefit Research Institute’s Retirement Confidence Survey ® , 2008.
    26. 26. <ul><li>By the year 2050, what percentage of adults are expected to be 65 or older? </li></ul><ul><ul><li>24% </li></ul></ul><ul><ul><li>27% </li></ul></ul><ul><ul><li>31% </li></ul></ul>Source: The Urban Institute, Work and Retirement: Facts and Figures, 2006. 27%
    27. 27. 27%
    28. 28. <ul><li>Fewer retirees believe they can simply cut back on their lifestyle if it looks like they might outlive their retirement savings (61% in 2008, down from 70% in 2007) </li></ul><ul><li>39% of retirees now think they are likely to outlive their retirement savings (up 10% from 2007) </li></ul>Source: Employee Benefit Research Institute’s Retirement Confidence Survey ® , 2008.
    29. 29. <ul><li>Delaying retirement by five years would enable individuals, on average, to increase annual retirement spending by what percent? </li></ul><ul><ul><li>36% </li></ul></ul><ul><ul><li>46% </li></ul></ul><ul><ul><li>56% </li></ul></ul>Source: The Urban Institute, Work and Retirement: Facts and Figures, 2006. 56%
    30. 30. 56%
    31. 31. <ul><li>Only 5% of workers think saving for retirement is their most pressing financial concern. Here’s what concerns them more: </li></ul>Concern Making ends meet Paying for health insurance or medical expenses Making mortgage or rent payments Paying down debt or loans Coping with fuel or energy costs Percentage 17% 16 16 13 9 Source: Employee Benefit Research Institute’s Retirement Confidence Survey ® , 2008.
    32. 32. <ul><li>What is the percentage of workers who are very confident about having enough money for a comfortable retirement? </li></ul><ul><ul><li>18% </li></ul></ul><ul><ul><li>27% </li></ul></ul><ul><ul><li>35% </li></ul></ul>Source: Employee Benefit Research Institute’s Retirement Confidence Survey ® , 2008. 18%
    33. 33. 18%
    34. 34. <ul><li>The percentage of workers who are very confident about having enough money for a comfortable retirement decreased sharply, from 27% in 2007 to 18% in 2008 </li></ul><ul><li>Retiree confidence also decreased, from 41% to 29%, a 12% drop from 2007-2008 </li></ul>Source: Employee Benefit Research Institute’s Retirement Confidence Survey ® , 2008.
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