2016 MDRT Annual Meeting e Handout Material Title: Belief ... eHO.pdf · information contained in...
Transcript of 2016 MDRT Annual Meeting e Handout Material Title: Belief ... eHO.pdf · information contained in...
© 2016 Million Dollar Round Table Million Dollar Round Table 325 West Touhy Ave. Park Ridge, IL 60068 USA
2016 MDRT Annual Meeting e‐Handout Material Title: Context, Knowledge and Belief Speaker: Stig O. Nybo Presentation Date: Wednesday, June 15, 2016 Presentation Time: 11:30 a.m. ‐ 12:30 p.m. The Million Dollar Round Table® (MDRT) does not guarantee the accuracy of tax and legal matters and is not liable for errors and omissions. You are urged to check with tax and legal professionals in your state, province or country. MDRT also suggests you consult local insurance and security regulations and your company’s compliance department pertaining to the use of any new sales materials with your clients. The information contained in this handout is unedited; errors, omissions and misspellings may exist. Content may be altered during the delivery of this presentation.
Slide 1
Stig O. NyboContext, Knowledge and Belief:
Changing (saving) behavior
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Slide 2 “The two most important days in
your life are the day you are born
and the day you find out why.”
– Mark Twain
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Slide 3
1. the action of fact of leaving one’s job and ceasing to
work: a man nearing retirement
2. the period of one’s life after leaving one’s job and
ceasing to work: he spent much of his retirement
traveling Europe.
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Slide 4
The nonprofit Transamerica Center for Retirement
Studies® surveyed more than 4,100 American workers
and found the majority of workers plan to work past
age 65 or do not plan to retire (55%), and the majority
(52%) plan to continue working after they retire.
THE DEFINITION OF
HAS CHANGEDRETIREMENT
Source: Transamerica Center for Retirement Studies®,15th Annual Transamerica Retirement Survey, 2014
See disclosures at the end of the presentation regarding Transamerica Center for Retirement Studies®
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Slide 5
SAVINGSCHALLENGE
RETIREMENTTH
E
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Slide 6
LONGEVITY
CONSUMERISM
LEVERAGE
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Slide 7
EST.1935
LO
NG
EV
ITY
Source: National Center for Health Statistics, National Vital Statistics Reports, Oct. 2012
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Slide 8
LIFEEXPECTANCY
IN 1935
Source: National Center for Health Statistics, National Vital Statistics Reports, Oct. 2012
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Slide 9
61.7YEARS
Source: National Center for Health Statistics, National Vital Statistics Reports, Oct. 2012
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Slide 10
LIFEEXPECTANCY
TODAY
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Slide 11
Source: Center for Disease Control & Prevention - National Center for Health Statistics Website
78.8YEARS
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Slide 12
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Slide 13
Source: Society of Actuaries, “Key Findings and Issues: Longevity,” June 2012
ONE MEMBER OF A COUPLE
72%AGED 65 WILL LIVE TO
AGE 85
CH
AN
CE
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Slide 14
Source: Society of Actuaries, “Key Findings and Issues: Longevity,” June 2012
ONE MEMBER OF A COUPLE
45%AGED 65 WILL LIVE TO
AGE 90
CH
AN
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Slide 15
Source: Society of Actuaries, “Key Findings and Issues: Longevity,” June 2012
ONE MEMBER OF A COUPLE
18%AGED 65 WILL LIVE TO
AGE 95
CH
AN
CE
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Slide 16
Source: Society of Actuaries, “Key Findings and Issues: Longevity,” June 2012
AGE 150
FIRSTPERSON TO LIVE TO
TH
E
IS ALREADY ALIVE– Leading Biomedical Gerontologist, Aubrey De Gray
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Slide 17
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Slide 18
DEBTCREDIT CARD
AVERAGES$15,279 PER HOUSEHOLD
Sources:
1. Nerdwallet.com, "American Household Credit Card Debt Statistics,” 2013 http://www.nerdwallet.com/blog/credit-card-data/average-credit-card-debt-household/
2. Federal Reserve Board, Mortgage Debt Outstanding http://www.federalreserve.gov/econresdata/releases/mortoutstand/current.htmLE
VE
RA
GE
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Slide 19 Photographer: Julián Santa Ana
Source: Senator Tom Harkin, Chairman, US Senate Committee on Health, Education,
Labor & Employment’s report “The Retirement Crisis and a Plan to Solve It,” July 2012LE
VE
RA
GE
DEFICITTHE INCOME
IS $6.6 TRILLION
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Slide 20
WAY
BUT, THERE’S
ANOTHER
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Slide 21
CREATE
SUPERSAVERS
A NATION OF
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Slide 22
RETIREMENT PLANS
WORKWHEN WE THEY ARE
AVAILABLE
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Slide 23
401(k) PLAN
Source: 2013 Employee Benefits Research Institute (EBRI) study
AVERAGE PARTICIPANT BALANCE
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Slide 24
$421,863
AVERAGE ACCUMULATED
RETIREMENT
ASSETS(FOR PARTICIPANTS 65 – 69 YEARS OF AGE)
WITH AN IRA AND 401(k) BALANCE
Source: Employee Benefit Research Institute 2013
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Slide 25
CHANGE IS HARDLiberia, Myanmar and the United States
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Slide 26
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Slide 27
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Slide 28
CHANGE?
DID LITERING
BEHAVIOR
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Slide 29
WHY?
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Slide 30
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Slide 31
AUTO-ESCALATION
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Slide 32
GOES UP
RISKGOES DOWN
AS AGE
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Slide 33
RIGHT
BUT WE MUST GET
OUR CONTEXT
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Slide 34
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Slide 35
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Slide 36
(FINNCIAL LITERACY)
WHAT ABOUTKNOWLEDGE?
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Slide 37
(VALUES & RESOLVE)
AND OURBELIEFS?
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Slide 38
BELIEFS
WE KNOW HOW
TO SHAPE PEOPLE’S
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Slide 39
PERSPECTIVE
INFLUENCERS
HELP TO CHANGE OUR
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Slide 40
SHAPE BELIEFS
CREATE CONTEXT
BUILD KNOWLEDGE
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Slide 41
VISION?
WHEREIS OUR
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Slide 42
IS IT?
WHO’SRESPONSIBILITY
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Slide 43 DEAD POETS SOCIETY
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Slide 44
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Slide 45 Sources:
• Transamerica Center for Retirement Studies®,15th Annual Transamerica Retirement Survey, 2014
• National Center for Health Statistics, National Vital Statistics Reports, Oct. 2012
• Center for Disease Control & Prevention - National Center for Health Statistics Website
• Society of Actuaries, “Key Findings and Issues: Longevity,” June 2012
• Nerdwallet.com, "American Household Credit Card Debt Statistics,” 2013 http://www.nerdwallet.com/blog/credit-card-data/average-credit-card-debt-
household/
• Federal Reserve Board, Mortgage Debt Outstanding http://www.federalreserve.gov/econresdata/releases/mortoutstand/current.htm
• Source: Senator Tom Harkin, Chairman, US Senate Committee on Health, Education, Labor & Employment’s report “The Retirement Crisis and a Plan to
Solve It,” July 2012
• 2013 Employee Benefits Research Institute (EBRI)
• Keep America Beautiful, Inc.
• Artist J. Howard Miller and the Westinghouse Company's War Production Coordinating Committee
• The Ad Council, New York, NY 10017
• Artist/Photographer: Lauri Väin; Lesly Juarez; Julián Santa Ana; Ross Fowler; Jonny Lindner ; (License: Public Domain CC0)
• Creative Contributions: SquarePlanet Presentations + Strategy
This material is provided for informational purposes only and should not be construed as ERISA, tax, investment or legal advice. Interested
parties must consult and rely solely upon their own independent advisors regarding their particular situation and the concepts presented here.
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