The Center for Retirement Research projects that 40% of those born between 1976 and 1985 will be unable to replace 75% of the income they received between the ages of 55 and 54 when they reach age 70.
With Americans expecting to live to age 90 and many finding retirement savings a challenge, work, at least part-time, could become a retirement expectation for many.
More than 60% of advisers say they work within a team structure, yet only one-third of teams regularly collaborate in their daily decisions and processes.
Another 40% say they reduced their debt during the year.
Eighty percent of single women keep a portion of their savings in cash, with 35% keeping 50% or more in liquid savings.
Nearly half of sponsors do not think they are fiduciaries, up markedly from 30% in 2011.
Advisers focused on client retention take heed—spouses are increasingly influencing retirement income planning decisions, says Hearts & Wallets research.
Nearly one in four say they would be willing to save more than 50% of their paycheck to have more money in the long run.
The expert interview series showcases some of the leading thinkers in the financial services industry on issues that matter most for financial advisers.
Fifty percent of Gen Xers surveyed say they cannot start saving for retirement until they pay off their credit card debt.
Fifty-seven percent of employees surveyed do not want their employer to send personalized messages to people facing important financial decisions.
The Gainfully platform is now available to LPL Financial advisers, aimed at supporting and boosting client engagement via compliance-friendly social media content curation.
More than one in four now avoid the market and nearly half have altered their spending and savings habits.
More than one-third of retirees continue to grow their assets, BlackRock found.
If the plan is not already automatically enrolling participants and escalating their deferrals each year, AB says, it should be.