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J.P. Morgan Releases 2020 Guide to Retirement

Guide analyzes key issues impacting retirement planning

Published on March 10, 2020

J.P. Morgan Asset Management today released the 2020 Guide to Retirement, examining the most significant issues impacting the retirement landscape, including current challenges and opportunities and the tools needed to support planning conversations.

“As the economic and legislative environment continues to evolve, those nearing retirement and their advisors now more than ever need to have a firm understanding of the various decisions that must be made in order to comfortably reach the retirement finish line,” said Katherine Roy, Chief Retirement Strategist at J.P. Morgan Asset Management. “The Guide aims to provide an objective framework to enable informed planning conversations by analyzing the most pressing issues impacting retirement.”

“Those making retirement planning decisions need to take into account an increasingly complex array of factors, ranging from the implications of the SECURE Act to managing health care costs and Medicare surcharges,” said Sharon Carson, Retirement Strategist at J.P. Morgan Asset Management. “By assessing a range of scenarios across factors such as age, income and life-stage, the Guide lays the groundwork for effective retirement decision-making.”

Below is an overview of the key retirement themes covered in the 2020 Guide to Retirement:

1)  Understanding the implications of the SECURE Act

  • The elimination of the stretch IRA
  • Increases in the Required Minimum Distribution starting age
  • Small business tax credits and pooled employer plans

2)  Managing health care costs pre- and post-retirement

  • Variations in bronze/silver plan costs across age and geography
  • Rising annual healthcare costs in retirement
  • Annual Medicare surcharges across income bands

3)  Long-term care planning solutions

  • Leveraging the full suite of options to start planning early
  • Medicaid as a last resort
  • Insurance and HSA considerations

To view the full 2020 Guide to Retirement, click here.

Newsdesk Editor