A survey by Voya also found that sponsors do not always understand the services that advisers provide, which means that advisers need to communicate their value more effectively.
Tag: retirement readiness
Women place more importance on advice that fits into their work or personal schedule, as opposed to men who place more importance on advice that alerts them to critical developments in their accounts, a T. Rowe Price survey found.
Nearly all of those responding to a new Schwab survey say they would feel confident about making the right financial decisions with professional help, yet only half feel their current situation warrants professional advice.
Adults ages 45 to 59 who say their retirement savings are on track typically have at least $250,000 saved, according to the sixth annual Survey of Household Economics and Decisionmaking (SHED).
Millennials bemoan their student loan debt loads while Baby Boomers voice the most regret about not saving for retirement earlier, according to a Bankrate.com survey.
Defined contribution (DC) plan design and financial advice can help Generation X, who lacks financial stability and is falling short in retirement savings, improve retirement preparedness.
The Federal Retirement Commission would conduct a comprehensive review of private benefit programs in the U.S., with an eye toward strengthening them.
A new TIAA survey suggests Americans who are concerned about their parents’ financial security are more likely to feel stress about their own retirement preparedness.
Advisers can play a role by encouraging actions by plan sponsors and participants.
Fidelity analyzed the balances of those who remained invested in their 401(k) in the decade following the Great Recession of 2008 and found that the balances went from $52,600 to $297,700.
Respondents to research by the CFP Board and Morning Consult described saving for retirement with the words "overwhelming," "complicated," "impossible" and "confusing."
Many workers feel unprepared for health expenses in retirement, have not prepared very well and plan to work later, the EBRI Retirement Confidence Survey found.
Over the course of five years, the percentage of those who feel they are prepared for retirement more than doubled.
Because people are living longer, healthier lives, the Wells Fargo Investment Institute has suggested different ways that Millennials, Generation X and Baby Boomers can successfully save for retirement.
Those who have a health savings account are more certain about how they will cover future health care costs.
Fifty nine percent said it was only “somewhat likely” or “not at all likely” that their savings and Social Security will be enough to last them throughout their retirement, AARP learned in a survey.
Among all age groups, 76% think people in their generation will have a harder time achieving financial security in retirement than their parents, the Transamerica Center for Retirement Studies found.
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.