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The State of Retirement Readiness Today with Shannon Edwards 635228
31/12/2024
31/12/2024
About Shannon Edwards: Shannon Edwards is the founder of TriStar Pension Consulting and a...
About Shannon Edwards: Shannon Edwards is the founder of TriStar Pension Consulting and a seasoned professional with over 30 years of experience in the retirement plan industry. She has dedicated her career to helping individuals retire on their . A credentialed member of the American Society of Pension Professionals & Actuaries (ASPPA), Shannon currently serves as its Vice President. Her expertise in retirement plan design, compliance consulting, and istration has earned her widespread respect in the field. Outside of her professional life, Shannon is a devoted wife, mother, and grandmother who cherishes time with her family and volunteers for local non-profits.
In this episode, Shawn and Shannon Edwards discuss:
Starting early to maximize retirement savings growth
The critical role of financial literacy in retirement readiness
The impact of mandates like SECURE 2.0 Act on retirement plans
Key challenges for professionals in retirement planning and compliance
Key Takeaways:
Automatic enrollment policies, as required by SECURE 2.0 Act, have led to a significant rise in retirement plan participation by simplifying decision-making and requiring employees to opt out rather than opt in.
Employers are increasingly turning to private sector retirement plans instead of state-mandated IRAs, driven by employee demand and the competitive need to offer better benefits packages.
Matching contributions, especially dollar-for-dollar matches in 401(k) plans, effectively double an employee’s initial investment and offer a level of return unmatched by market alternatives.
Financial advisors who specialize in retirement plans play a pivotal role in providing guidance to underserved employees, such as welders or dental hygienists, who might otherwise lack access to personalized financial advice.
"I know nobody likes the word "mandate"—nobody likes that word—but honestly, [automatic enrollment] makes such a difference in the outcomes for these people that it's just hard to understand why we wouldn't do it." — Shannon Edwards
Connect with Shannon Edwards:
Website: http://www.tristarpension.com/
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/shannonedwardsplanconsultant/
Get a free copy of Shawn’s book “The Priority of Retirement” here- https://www.retirewisepro.com/the-priority-of-retirement
Shawn:
Website- https://www.retirewisepro.com/
YouTube- https://www.youtube.com/channel/UCiIMGdosN-snkV5gFt7FRSg
LinkedIn- https://www.linkedin.com/in/shawn-maloney-retire-wise
Instagram- https://www.instagram.com/retirewise_llc/
Facebook- https://www.facebook.com/ShawnMaloney.RetirementPlanning/
Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.
Shannon Edwards is not a client, nor should her appearance in this ment be construed as an endorsement of Shawn Maloney or Retire Wise LLC. TriStar Pension Consulting is not d with Retire Wise LLC. or AEWM.
The information and opinions contained are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. They are given for informational purposes only and are not a solicitation to buy or sell any of the products mentioned. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the needs of an individual's situation.