To address the complexity of retirement finances, governments around the world have created online dashboards that offer tracking systems, unbiased financial advice, future income projections and other expanded services.
A paper co-authored by David C. John of the AARP Public Policy Institute; Grace Enda of the Tax Policy Center; and William G. Gale and J. Mark Iwry of the Brookings Institution considers the potential for a U.S. retirement dashboard.
The authors admit that such a resource is unlikely to be offered without government involvement, but they discuss the potential benefits that could result.
“A dashboard would be a tool that could reduce the strain that our complex retirement system imposes on households,” says the paper. “An effective dashboard could help employees and other savers, employers, recordkeepers, asset managers, plan providers and the government, all of whom have an interest in ensuring that workers understand and manage their retirement savings appropriately.” Read more.
A Retirement Dashboard For the United States
