Peak Savings: Wall Street Faces 20 Years Of Retirement Withdrawals As Boomers Hit 70 1/2

2013 will go down as the first year in which retirement accounts have greater distributions than contributions (i.e. net outflow) on a continuous basis. With about $10 trillion saved in tax-deferred savings accounts – which amounts to $133,000 per person which is grossly insufficient to fund ~20 years of retirement, but that’s a topic for another day – and the mandated withdrawal of 3.5% per year starting at age 71.5, that would represent an outflow of $350 billion worth of management fee generating assets away from Wall Street.

Full article: http://www.zerohedge.com/news/2017-01-16/peak-savings-us-demographic-time-bomb-ready-explode-boomers-hit-70-12-years

Demographics

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