More Americans are using their long-term savings to pay today's bills and risking a delayed or financially insecure retirement, says Eleanor Blayney, [CFP®,] consumer advocate for the Certified Financial Planner Board of Standards Inc....
According to a July survey released by the CFP Board and Consumer Federation of America, an estimated 51 percent of financial decision makers feel that they've fallen behind on their retirement savings compared with 38 percent of decision makers queried in a similar 1997 survey.
But it's not too late for financial advisors to help pre-retirees create a plan that will support a fulfilling and financially stable retirement. "Today's retirement is no longer defined by the moment we file for Social Security, or start taking our required IRA distributions," says Blayney. "Instead, we must create financial strategies that unfold gradually over a period of time to financially secure our golden years." Read more >
August 15, 2012