Almost half of all financial assets held by households in the 65-and-over category can now be considered in retirement income “drawdown” mode, according to new research.
Roughly $4.3 trillion of the $9 trillion held by households in that age category is being used to draw 4% or more of income, says Hearts & Wallets, a partnership formed by Chris Brown of Sway Research, Newton, N.H., and Laura Varas of Mast Hill Consulting Inc., Hingham, Mass.
In 2006, the researchers point out, the portion of retiree assets in retirement income “drawdown” was only 20%.