The recent 2015 TIAA-CREF Affluent Investor Barometer Survey found that most investors with $250,000 in assets are more concerned with saving for, or generating income in retirement, rather than building an inheritance for their heirs. “Retirement looms large even for higher-net-worth Americans who recognize the importance of saving and investing,” explained Kathie Andrade, head of Individual Advisory Services at TIAA-CREF. “Retirement can sometimes last 20 or 30 years or more, so individuals need to strike the right balance between shorter-term financial priorities and long-term planning to help ensure they’ll have income to last throughout their retirement.”
See Christopher Robbins, Investors Worried More About Retirement Income Than Leaving Inheritance, Financial Advisor, Apr. 29, 2015.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
