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.

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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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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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


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Slide 9

61.7YEARS


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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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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




AGE 90

CH

AN

CE

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Slide 15




AGE 95

CH

AN

CE

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AGE 150

FIRSTPERSON TO LIVE TO

TH

E

IS ALREADY ALIVE– Leading Biomedical Gerontologist, Aubrey De Gray

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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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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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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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CHANGE IS HARDLiberia, Myanmar and the United States

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Slide 27

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CHANGE?

DID LITERING

BEHAVIOR

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Slide 29

WHY?

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Slide 30

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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 35

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Slide 36

(FINNCIAL LITERACY)

WHAT ABOUTKNOWLEDGE?

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(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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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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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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2016 MDRT Annual Meeting e Handout Material Title: Belief ... eHO.pdf · information contained in...

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