Key to Retirement Confidence is Working with a Pro

Being confident with financial security in retirement is a highly sought after feeling, which unfortunately, not many Americans have. In its survey, Ameriprise found that 68% of pre-retirees working with a financial adviser are confident in reaching their retirement goals, and 39% of pre-retirees who are not working with an FA are confident about their plan.   

For those who are already working with an adviser, the study found that pre-retirees were more likely to be setting aside money in an employer-sponsored plan (84% versus 66%) or in their own savings and investments (91% versus 60%). Pre-retirees working with a financial adviser are also more likely to have made the crucial step to figure out the amount of money they need to save for retirement (68% versus 44%).

Ameriprise also found that those with a written financial plan have even greater level of confidence that they are “on track” with their retirement plan–75% versus 40%. Compared to those without a plan, more pre-retirees are also more likely to say they are actively saving than their peers, including setting aside money for retirement in an employer-sponsored plan (85% versus 66%) and in their own savings and investments (93% versus 61%). 

Retirees who worked with a financial adviser are more likely to feel they are “living their dream” in retirement (53% versus 36%) and that their retirement “worked out the way they planned” (68% versus 49%) than those who did not.