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Featured Advisor

Ed Meek
CEO/Investment Advisor

Edge Portfolio Management


State: IL

At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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Life Looks Better in Retirement

Retirement age investors express greater optimism about their financial situation than members of Generation X and Y. Learn more about the differences.

| BY Adriana Reyneri

Most investors ages 60 and older feel their financial situation has improved over the last 12 months, according to a recent Millionaire Corner survey indicating that financial peace of mind comes with age and retirement.

The majority of investors ages 40 and younger express the opposite sentiment, according to our September survey, and give a negative response to the question, “Do you think you are better off financially than you were one year ago?”

Why are the majority of retirement age investors feeling so upbeat? The largest share (36 percent) indicate they’re better off because their “portfolio has improved.” More than 20 percent cite the factor “the economy is improving,” and 18 percent say their disposable income has increased.

Why do most of young investors feel more pessimistic about their personal finances? The greatest percentage (37 percent) perceives the economy as getting worse and 31 percent say their disposable income has decreased. Fourteen percent say they have had to take on more debt, and an equal share cites a decline in portfolio performance.

Concerns about retirement security are highest among investors in their 40s and 50s, who are worried about college costs and maintaining their current financial situation, while at the same time saving for retirement, according to a Millionaire Corner study of non-millionaire investors conducted over the first quarter of the year. Participants had a net worth of $100,000 to $1 million, not including primary residence.

Less than half of non-millionaires ages 45 to 54 believed they will live comfortably in retirement, compared to two-thirds of investors ages 65 and older who said they “fully expect to have sufficient income.” More than 40 percent of investors ages 45 to 54 indicated they planned to delay their retirement because of the current economy, and 39 percent said their household was not saving enough to meet their current financial goals.

Our third-quarter study also shows that while older investors feel relatively secure about their finances and retirement, they express high levels of concern about their health, their spouses’ health and long term care issues.