About this blog
Most people would like to stop working, at least out of necessity, at some point in their lives. Most people also understand that:
- they will continue to need to buy goods and services when they retire;
- those goods in services will, in aggregate, cost more in the future than they do today; and
- employers generally stop paying people that no longer work for them.
Why then, don’t Americans save more and spend less?
The same reason I eat Ben & Jerry’s while vowing to begin using my TotalGym tomorrow; self denial has a difficult time competing with self-indulgence.
The word “crisis” is tossed around with such frequency that it has begun to lose its meaning (‘American Idol’ in Crisis? – 10 May 2010, CNN Report), but the economic and political implications of failing to make significant and fundamental changes in how Americans prepare for retirement will be profound.
This blog will discuss:
- investor education and framing savings/spending decisions
- public policy initiatives and ideas that promote positive retirement savings behaviors
- retirement income products, with a focus on effective leverage of mortality credits
- investor behavior and attitudes
- stories completely unrelated to retirement planning that I find particularly amusing (or annoying) to which I feel compelled to subject readers
About this blogger
I am Jay DeVivo, and I started The Retirement Report in November 2010 because neither my 4-year-old nor my 6-year-old felt that my observations on “America’s Retirement Crisis” constituted a satisfactory bedtime story, and I needed an outlet.
I also founded String Financial, LLC to develop applications to enable DC plan participants to better prepare for retirement. Our StringAccount product, currently in beta, uses an experiential learning approach that allows participants to experiment with how changes in key drivers such as investment expenses, deferral rate, asset allocation and retirement age impact retirement income. I have recently begun to focus on looking at ways to transform the way retirement services are delivered by plan providers to improve participant saving behaviors. (See “Neuroscience Made E-Z: Rewiring Plan Participants Brains to Improve Retirement Preparedness”)
I have also worked in a client and risk management capacity for a reinsurer of variable annuity death and income benefits. Prior to that I consulted for start-ups and some publicly held companies in a variety of industries doing product and business model development, strategic marketing, and assisting in the capital raising process. I also did a stint in private equity. I received my B.A. in Economics from Boston College and MBA from the UCLA Anderson School of Management.
I currently live in Connecticut with my wife, two boys, and a very spoiled boxer named Bella.
You can email me at: TheRetirementReport *AT* gmail.com