Edward Jones and Age Wave say advisers should take a new approach to working with retirees by helping them determine what they want to do when they stop working.
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.
They expect 44% of their retirement income will come from their 401(k), according to Charles Schwab, and half said they would benefit from financial advice.
A mere 17% of women say they are very confident they will be able to retire comfortably, according to the Transamerica Center for Retirement Studies.
While 75% of employers consider their companies to be “aging friendly,” only 54% of workers think their companies have adopted such policies.
The Bank of Mom and Dad is playing a major role in the U.S. housing market, according to Legal & General Group, putting some parents' retirements at risk.
The reason is primarily because they have not created a comprehensive, written plan, according to Fidelity.
Overall, 50% of parents have cut back on their retirement savings to help their kids out.
In order to boost Americans’ retirement outlook, there are a number of practical things that retirement plan advisers and sponsors can do, Jamie Ohl, president of the retirement business at Lincoln Financial Group, tells PLANADVISER.
Only 33% think they are saving enough for retirement, according to a Primerica survey.
Nearly one-third fear they will outlive their assets, according to LIMRA-SRI.
Just over four in 10 U.S. households are projected to run short of money in retirement, according to an updated analysis from EBRI.
They also say that these accounts help them think about the long term and make it easier to save, an ICI survey found.
The bipartisan legislation is designed to help close the $7.7 trillion retirement savings gap.
However, they are worried about health care costs.
For those 75 and older, out-of-pocket medical costs amount to 20% of their income.