How the RISE Score™ Seeks to Help Answer the Critical Question All Americans Will Face – Do I Have Enough Money Saved for Retirement?
2024 marks the largest surge of Americans turning 65 in U.S. history – Peak 65®. More than 4.1 million Americans will retire each year (11,200+ every day) through 2027, but very few people have a true sense of where they stand when it comes to making sure they have enough money to fund their lifestyle in retirement. Journalists and researchers try to help by suggesting targeted savings amounts needed for retirement, but often this causes even more confusion. Is $1.46 million the right amount of savings needed to retire comfortably? Will having 10x your income by age 67 be enough? Add jargony terms like “Monte Carlo analysis” and scary words like “mortality” and it is no wonder people become paralyzed and unable to answer this important question. The Retirement Income Security Evaluation (RISE) Score™ was created to help solve this problem by modeling retirement readiness to look like a credit score, something familiar to everyone. With just 10 simple inputs and in less than 10 minutes, RISE empowers people to either make changes to their retirement planning if they are not on track, or instill confidence if they are. As Lao Tzu said, “The journey of a thousand miles begins with one step.” RISE can be that first step towards a more positive financial retirement outcome.