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Understanding how long they may live opens up important retirement planning discussions with clients.
Offering health savings account (HSA) services allows advisers to add value and help clients more holistically plan for retirement, Kristen Donovan, with BAM Retirement Solutions, tells PLANADVISER.
Robert Scheinerman, president, AIG Retirement Services, says smart retirement plan design, access to advisers and passage of pending legislation can help Americans have enough money for a 40-year retirement.
A large number of Boomers lack any kind of planning for retirement, and most have not set a retirement goal, IRI research found.
Approximately half of the participants surveyed by MassMutual had calculated how much savings they need to retire, with about one-third actually creating a formal plan. However, there were outliers.
Pentegra Millennial SmartPath is a report detailing best practices and strategies for Millennials to help improve retirement readiness and overall financial wellness.
The J.P. Morgan guide includes late-cycle retirement discussions, and the LIMRA guide highlights 10 common myths of pre-retirees and retirees.
However, only 56% of people have calculated how much income they need to retire, MassMutual learned in a survey.
Among family caregivers, 60% said they had no idea how demanding it would be, and that an insurance product to help with long-term care could have alleviated some of this pressure, according to Lincoln Financial Group.
A survey by OneAmerica indicates roadblocks in affording financial adviser services.
Yet, nearly three-quarters (71%) of those responding to an EBRI survey who said debt was a major problem worried about finances at work.
Morningstar suggests individuals and their advisers should focus on strategies that can maximize retirement savings, regardless of planned retirement age.
Asked what they look for in an adviser, Millennials say experience, followed by someone with similar demographic qualities as themselves.
A MassMutual study finds Asian Americans are more thoughtful retirement investors than other demographics, but they lack education about how long they will need to make their savings last and the timing of claiming Social Security.
More than half of employees surveyed by CareerBuilder said they think they'll need to save less than $1 million in order to retire.
Workers who are unprepared for retirement are five times as likely as those who are prepared to cite high living expenses as a barrier to retirement planning. They are also seven times as likely to have too much debt.
During a media call about the Employee Benefit Research Institute's latest Retirement Confidence Survey, sources shared ways retirement plan sponsors and advisers can help retirement savers feel more confident.
Women may face lower pay, more work disruptions, higher longevity and higher retirement health care costs than men, a study points out.