Investible retirement assets of U.S. households aged 55-plus will nearly double to $22 trillion by 2020, new research shows.
LIMRA, Windsor, Conn., disclosed this finding in its new Retirement Income Reference Book, which was published in December 2012. The RIRB provides LIMRA data, projections and research on retirement income market.
The report shows that investable assets for individuals age 65 and older will reach $11.4 trillion by 2020, up from $5.9 trillion in 2010, a 93 percent rise. Among pre-retirees (ages 55-64), investable assets will attain $10.2 trillion, up from $6.1 trillion in 2010, a 67 percent increase.
“There is a huge opportunity for the financial services industry to help Americans identify how much income they will need in retirement, develop a plan for investing their portfolio to generate income, while continuing to grow their assets,” says Jafor Iqbal, associate managing director of LIMRA Retirement Research.