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.
Despite sometimes being thought of as “slackers,” data shows the Millennial generation is more financially responsible than other generations give them credit for.
The new fiduciary support solution aids retirement specialist advisers and their clients in meeting the strenuous requirements of ERISA and other investing and benefits laws—without getting in the way of the existing adviser-client relationship.
Nearly half (48%) of Millennials want their employers to provide access to a financial professional to create a personalized financial strategy.
However, debt held by those between the ages of 65 and 80 increased 40% between 2003 and 2015.
Among retirees that have been out of the workforce between one and 10 years, only 11% to 18% have consolidated their investment accounts, according to a new report.
Seventy percent of those with less than $45,000 in household income say they cannot afford to save for retirement.
Sixty-four percent of Millennials say they are confident about making investment decisions—but this soars to 85% when working with an adviser.
Investors say the most important question an adviser can answer is how much can they afford to spend each year in retirement, according to a Dimensional Fund Advisors survey.
Over 40% of survey respondents indicate their organization has been offering a financial wellness program for 5 years or more.
By making workers aware of health and financial benefits, employers can make their workforce more engaged and productive—and avoid costly expenses.
Yet only 20% have taken any step toward funding their long-term care expenses.
This can put a person’s retirement in jeopardy, The Pew Charitable Trusts says.
The firm is partnering with bilingual education expert Rebecca Heaton Juarez to deliver broader-based financial wellness and participant educational services in multiple languages.
The difference owes to the pay gap between men and women, the tendency of many women to take a career break to raise or care for family, and women’s longer life expectancy.
All retirement plan advisers need to do is provide plan census data.
There seems to be no consensus on a definition of the trendy term, but plan advisers can create their own business model for offering a ‘financial wellness’ program.
L. Rita Fiumara from UBS shared generation-specific insights that can help shape retirement plan communications.