As individuals become increasingly aware of the costs of retirement, they have begun taking their futures into their own hands, according to The Boston Globe.
In part, the Boston-based Behemoth credits increased consumer awareness to a recent marketing campaign featuring former Beatle, Sir Paul McCartney.
Although Fidelity refuses to specify how much money its retail retirement accounts signify, the products include individual retirement accounts (IRA) and 401(k) accounts for the self-employed.
"Fidelity has spent the last three years aggressively marketing," said Jim Lowell, editor of
McClogan told the Globe that the company's marketing budget has nearly doubled since 2002, but again refused to cite specific amounts.
John Bonnanzio, an editor with
President George W. Bush also probably contributed to the boost when, during his 2005 State of the Union address, he unveiled his plan to reform Social Security with private investment accounts. Although the plan met political challenges, it helped make more Americans aware about preparing for retirement.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.