Interest rates improved the picture for retirement income for workers in their mid-50s, but a volatile market hurt 60-year-olds’ spending power and was flat for 64-year-olds.
That’s according to the BlackRock CoRI Retirement Indexes, designed to provide investors ages 55–74 a daily estimate of the present “price” of $1 of annual retirement income starting at age 65.
The CoRI indexes are composed largely of U.S. government and investment-grade bonds, and incorporate current interest rates, annuity prices, inflation expectations, life expectancy, and other factors into their estimates.
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