Three Themes Shaping the 2024 U.S. Retirement Landscape

Approximately two-thirds of the assets we manage at T. Rowe Price are retirement related, and as head of our Global Multi-Asset division, a lot of my work and that of my team is to help investors plan and save for the retirement they envision.??

As a leading global provider of target date solutions and the defined contribution recordkeeper for over two million participants nationwide, we are attuned to the retirement landscape and have gained a tremendous amount of insight on the industry.??

The transition of millions of baby boomers into retirement is creating new challenges. In our 2024 U.S. Retirement Market Outlook, our defined contribution experts outlined three themes that we expect to shape the retirement industry in the coming years.??

• Retirement Income. The need for income solutions is not new, but the take-up within retirement plans has been slow. Growing demand could drive innovation and adoption of retirement income solutions.??
• Personalization. A diverse workforce needs relevant communications and personalized savings and wellness solutions. Targeted experiences can drive behavioral change and improve retirement outcomes.??
• Diversification. Outlining the importance of diversification can seem like stating the obvious, but a changed market environment—given tighter monetary policy, stubborn inflation, and higher interest rates—requires a reassessment of allocations.??

For more in-depth perspectives and insights on these themes, explore our 2024 U.S. Retirement Market Outlook.?

Diversification cannot assure a profit or protect against loss in a declining market.?