WealthTech on Deck

Making a Secure Retirement Possible with Jason Fichtner


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According to Alliance for Lifetime Income research, The Peak 65 Generation: Creating a New Retirement Security Framework, "With the U.S. experiencing the greatest retirement surge in its history, the country's public and private sector retirement systems have become obsolete. The old metaphor of the three-legged stool of retirement planning — employer pensions, personal savings, and Social Security — no longer holds. These demographic changes will have major implications for the country's fiscal finances and the retirement security for the boomer generation and the generations that follow."

In this episode, Jack talks with Jason Fichtner, Vice President and Chief Economist at Bipartisan Policy Center and Senior Research Fellow at Alliance for Lifetime Income. Jason's research focuses on Social Security, federal tax policy, federal budget policy, retirement security, and policy proposals to increase savings and investment.

Jason talks with Jack about the Alliance for Lifetime Income research, The Peak 65 Generation: Creating a New Retirement Security Framework, how the demographic trends impact the retirement industry, and why now is the time to adopt a new retirement security framework. 


Key Takeaways

  • [01:28] - An overview of Jason's professional background.
  • [04:14] - What Jason's research, The Peak 65 Generation: Creating a New Retirement Security Framework, is about.
  • [07:12] - How people can achieve retirement security.
  • [08:02] - What the public-private partnership looks like.
  • [12:25] - How the great resignation is changing the great reset.
  • [16:47] - How industries are helping people plan for retirement.
  • [25:23] - Jason's perspective on how technology is transforming retirement.
  • [29:31] - Jason's three key takeaways.
  • [30:46] - Jason's interests outside of work.

  • Quotes

    [04:59] - "Retirement is not a one size fits all model. The idea that my parents and grandparents, who worked primarily for one job, one company, their entire life, turned 65, got the gold watch and retired isn't necessarily the standard model anymore. " - Jason Fichtner

    [05:42] - "Social security is technically OASI, the Old Age and Survivor's Insurance program. It is an insurance program. It is not designed to be a retirement program. It was designed to insure you against old age." - Jason Fichtner

    [06:17] - "The three-legged stool is now wobbly. The social security trust funds are projected to be insolvent around the mid-2030s, 2034 for OASI, and if you include DI, the Disability Insurance program, it's 2035. So that's kind of shaky. And if we don't do anything to support it, benefits could get cut by the 25%." -Jason Fichtner


    Links 

    • Jason Fichtner
    • Alliance for Lifetime Income
    • The Peak 65 Generation: Creating a New Retirement Security Framework
    • TIAA
    • BlackRock
    • Morgan Stanley
    • Merrill Lynch

    • Connect with our hosts

      • LifeYield
      • Jack Sharry on LinkedIn
      • Jack Sharry on Twitter

      • Subscribe and stay in touch

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          WealthTech on DeckBy LifeYield

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