A majority of these parents said they otherwise would have used the money for personal finances.
Data & Research
The projected cost of health care for the average couple retiring today is up 30% from 10 years ago, according to new data shared by Fidelity, underscoring the need to muster more holistic financial planning resources for workers and retirees.
In some ways, the gig economy was flourishing prior to the pandemic. Studies suggest the growth is likely to continue, based on a variety of related factors.
Plus, confidence about Medicare and Social Security benefits reaches an all-time high.
Financial providers can partner with employers to offer the benefit and help employees achieve their goals.
Morningstar and the CFA Institute have found the United States is among the nations with the lowest number of women in financial services.
More than one-third failed a basic Social Security quiz administered by MassMutual.
A Broadridge Asset Management expert explains how financial advisers can follow in their tracks.
Many are refocusing on financial wellness programs and retirement income options.
A new research report out of the Wharton School suggests changes to required minimum distribution (RMD) rules might not have as big an impact in practice as many might expect, though one subset of clients seems likely to benefit the most from an older RMD age.
However, many are implementing new practices and technologies to combat these effects.
Nearly 70% of retirees say they retired earlier than they had expected, up from 50% in 2020.
Financial advisers can help them through a mix of offerings and communication.
A number of Millennials are misinformed about when to save and invest for retirement, and they need plan sponsor help with student loan debt.
Researach also found that mutual funds that pay revenue sharing are more likely to be added to plan investment menus and are less likely to be deleted from them
Many have dipped into their retirement savings, and some have even stopped or cut back on their contributions.
More than half have experienced one or more negative impacts to their employment.