Individual retirement accounts and employer-sponsored retirement plans account for nearly two-thirds of advisors' income in retirement, according to Cogent Research.
The Cambridge, Mass.-based research firm discloses this finding in a new report, "Advisor In-Retirement Income," which explores how financial services professionals are modifying their retirement planning and income strategies in the current low interest rate environment. The study describes solutions, providers and techniques that advisors are using to address longevity, health care expenses, inflation and the spending needs of future retirees.
The report shows that employer-sponsored retirement plans account for 27 percent of advisors' income in retirement. Personal retirement products, including individual retirement accounts and Roth IRAs provide an additional 36 percent of income.
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