Bank of America Corporation (NYSE:BAC) [Trend Analysis] pretends to be active mover, stock build up around 2.82% to traded at $24.06. Bank of America (BAC) Merrill Lynch reported a breakthrough new study, which revealed major gaps in retirement readiness. Among pre-retirees, the survey discovered that half don’t have any positive financial role models and consider finance topics too taboo to discuss openly. Furthermore, financial decisions are the most second-guessed of any major life decisions, and people are more concerned about their personal economy than the overall economy. The study also explores a vast range of lifestyle and financial trade-offs and course corrections people would be willing to make to help achieve a more financially secure future. This new study, “Finances in Retirement- New Challenges, New Solutions”, is the capstone of eight studies conducted in partnership with Age Wave. This study concludes a first-of-its-kind, four-year, 50,000-respondent investigation focused on understanding the transforming nature of retirement through seven interconnected “life priorities” – family, work, health, home, giving, leisure and finances.
Key findings from this latest survey of more than 4,800 respondents include- While most Americans realize retirement will be the biggest purchase of their lifetime, costing 2.5 times the cost of an average home, 81 percent say they do not know how much money they will need to fund their retirement.
While most people say they want to live to the age of 90, only 27 percent of pre-retirees age 50+ feel financially prepared to fund a retirement that lasts 10 years, let alone 20-30 years. Americans are saving only a fraction of what they think they should- 5.5 percent1 vs. 25 percent of their annual income (after taxes).
More than half of millennials feel a secure retirement is beyond reach, compared to 30 percent of baby boomers who feel this way. And millennials expect 65 percent of their retirement income to come from personal sources, including savings and continued employment, far more than earlier generations. (Read Latest [Free Analytic] Facts on NYSE:BAC and Be Updated)
To accommodate long-term intention, the firm has diverse dividend or yield record, BAC has Dividend Yield of 1.25% and experts calculate Return on Investment of 6.60%. The firm has Profit Margin of positive 31.80%.
KeyCorp (NYSE:KEY) [Trend Analysis], stock shows upbeat performance moved up around 2.22% in early session as its gaining volume of 9.95 Million. The wealth management division of KeyCorp (KEY), Key Private Bank has been recognized by Private Asset Management Magazine (PAM) for “Private Banking, Performance.” This award is designed to honor the best private bank in North America that has a proven track record of excellence and overall performance during the last twelve months in the private banking arena. PAM is a leading publication that reports on the wealth management and family office industry. This distinct honor highlights Key Private Bank’s commitment to delivering highly-customized, best-in-class wealth management and financial planning solutions through exceptional client service in the high-net-worth market.
The PAM Awards are designed for top investment professionals, wealth advisors, legal firms, consultants and other key service providers operating within the private asset management industry who have proved themselves over the course of the last year. The judging process, using an independent panel made up of industry experts, reviews a mixture of qualitative and quantitative performance indicators. Six firms were shortlisted for this award, based on a combination of consumer and revenue growth, innovative product development and client satisfaction.
The stock showed weekly upbeat performance of 4.31%, which maintained for the month at 1.56%. Similarly, the positive performance for the quarter recorded as 16.12% and for the year was 77.49%, while the YTD performance remained at 3.28%. KEY has Average True Range for 14 days of 0.40.
For latest Market Updates Subscribes Here