Advisor-only Webcast | Intergenerational wealth transfer — What you need to know | September 27, 2017 | 1:15pm ET

A NEW VISION FOR RETIREMENT FROM HERE TO SECURITY

Putnam President and CEO Robert Reynolds's new book offers practical ideas to create a workspace savings system that achieves retirement security for all — and generates faster growth for the whole economy.

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Read Robert Reynolds's latest post:
Could a full-auto 401(k) plan drive millennials to save more? (9/20/2017)

Headlines you need to know this week   —   September 19, 2017

Many family offices lack a formal succession plan

While most family offices expect a significant wealth transfer will occur in the next 15 years, only 32.7% have a formal written succession plan, according to a new survey. The report also found 45.7% do not have a plan at all and one-third of those polled are working on one. Additionally, 14.6% said they have a verbal agreement.

Gig workers find themselves without a retirement plan

The majority of workers in the so-called “gig economy” — a workforce of independent contractors — are finding that choosing temporary or contract work may mean they are missing out on retirement benefits. A recent study found most gig workers do not have access to a workplace savings plan. In 2015, gig workers comprised 16% of the workforce.

Student debt growing among older adults

The number of adults age 60 and older with student loan debt has quadrupled in the last decade, according to the Consumer Financial Protection Bureau. These adults, who took out loans to help their children and grandchildren pay for college, owed about $66.7 billion in 2015. Additionally, many older borrowers are behind in their payments. The report also noted that more than half of college loan co-signers are age 55 and older.

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