Nearly One-Quarter of Participants in the Dark on Their Allocations
Among those who know how their 401(k) assets are allocated, they had 51% of their assets in equities, Legg Mason learned in a survey.
Tag: Baby Boomers
Millennials the Most Motivated to Develop a Financial Plan
Twenty-nine percent say financial planning makes them feel “excited and inspired,” a survey by Northwestern Mutual found.
Boomers Express Confidence in Their 401(k) Plans
Seventy-five percent believe their 401(k) plan is in better shape now than ever before, according to Charles Schwab.
Millennials Value Financial Planning as Much as a Bonus
They also believe having an adviser they can trust is important for their financial confidence.
Millennials Benefiting from Retirement Plan Modernization
They are on track to replace 75% of their income, compared to 64% for Americans overall.
Millennials Better Prepared for Retirement than Their Parents
More than half have set specific retirement goals, J.D. Power learned in a survey
RIAs Predict 41% of New Clients Will Be Gen X, Millennials by 2023
This will mean shifting their current focus from Baby Boomers, TD Ameritrade learned in a survey.
Nearly Three-Quarters of Boomers Want to Delay Retirement
More than three in 10 have no retirement budget.
Only One-Third of Boomers Are Confident They Have Adequate Retirement Savings
Among Baby Boomers who think it is important to work with an adviser, nearly 70% said they would purchase an annuity within their individual retirement account (IRA), according to a survey by fixed income annuity provider Annexus.
Millennials’ Retirement Prospects Are Challenging
They earn less than older generations, are less likely to participate in a retirement plan, and will have to contend with longer life spans and rising health care costs.