Driving better results in retirement outcomes.
At the P&I Awards for Influential Women in Institutional Investing, L to R: Nikki Pirrello (Pensions & Investments), Robin Diamonte (RTX), Yie-Hsin Hung (State Street Global Advisors), Saira Malik (Nuveen), and Angela Miller-Day (Illinois Municipal Retirement Fund).
It’s not often that we dedicate ourselves to the topic of investment results and all the activity that goes into them. It’s true: small improvements in investment results over a long period of time makes for big impact.
At 5%, $100 a month deposited faithfully over 40 years can grow to over $153,000. (We’re using a simple calculator from Nerdwallet. Do try this at home).
Shift earnings just a little bit, to compound at 6%, and WOW, you just increased your nest egg by $50,000. Lived the same life. Saved the same amount. Small improvement to your earnings rate. Big difference.
We all want this – are we right – for ourselves and for others.
For this reason, it is exciting and very cool to see the celebrations of diverse talent in the retirement savings industry. Among the highlights of 2023 we’ll include DCIIA’s Diversity Equity and Inclusion Awards from the spring featuring a slate of leaders and rising stars, and last week’s Pensions & Investments inaugural Influential Women in Institutional Investing Awards.
Say again, you ask? What is the link here – well, it turns out that diverse teams generate better results. Here are a few supporting snippets across industry from McKinsey, Forbes, and Fast Company. And here are four specific to investments: from Aon, CNBC, Morgan Stanley, and our friends at Willis Towers Watson.
Given that change is difficult, we appreciate the importance of highlighting – and celebrating – that change in action.
We’re all looking for better returns and better outcomes. Let’s keep reinforcing the good work that will help us get there. We’re not photographic experts, but here are some scenes from the P&I celebration in Chicago this week, and a link to the live blog from the event. (subscription may be required)
Lisa
This piece was also featured in the September 21, 2023, edition of Retirement Security Matters. For more fresh thinking on retirement savings innovation, check out the newsletter here.
