Most Americans Feel It's Harder to Retire Now Than It Was 5 Years Ago

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Most Americans Feel It's Harder to Retire Now Than It Was 5 Years Ago

Dec 12, 2018

This might not come as a surprise to students of retirement, but it does shed light on the need for Americans of all ages to plan – and preferably with the help of a financial planner who is a fiduciary and one who provides comprehensive holistic advice – for their future.

Consider: Two-thirds of households have less than $100,000 saved for retirement, according to an election-night survey of more than 1,000 American voters released by Certified Financial Planner Board of Standards (CFP Board) in collaboration with research-led consulting firm, Heart+Mind Strategies….

The silver lining? According to the CFP Board, today's political climate and the current state of affairs in our country is positively impacting Americans' perspective when it comes to managing their finances, with one-in-three saying they are now much more proactive about setting and following a financial plan.

They better given this fact: "By 2060, there will be more than 98 million Americans who are 65 or older," Kevin Keller, chief executive officer of the CFP Board, said in a press release. "People are also living longer than ever before. In many cases, retired Americans will need to support themselves for 10, 15, 20 or even 30 years, meaning people need to save earlier, save more and be better prepared for the financial challenges of retirement.”  Read more >

The Street
By Robert Powell
December 12, 2018

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CFP Board’s leadership and representatives are available for interviews and speaking engagements on personal finance, the financial planning profession, CFP Board and the CFP® designation.

Did You Know?

Among clients who work with an advisor, 87% of those working with a CFP® professional are satisfied or very satisfied, compared with 72% of those who work with an advisor without certification.
Anyone can call themselves a “financial planner.” Only professionals who meet CFP Board’s rigorous standards can call themselves CERTIFIED FINANCIAL PLANNER™ professionals.
The 2013 Household Financial Planning Survey shows that those with a financial plan feel more confident and report more success managing money, savings and investments than those without a plan.
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