The majority of investors (92 percent) have to adjust theirretirement income plans after entering retirement, and most aredoing so in order to meet necessary expenses, according to a recentsurvey by Sun LifeFinancial.
The Retirement Income Pulse Poll of Financial Advisors, a nationalpoll of nearly 500 financial advisors, found that most investorsaren’t adjusting their retirement plans to accommodate lifestylechoices; rather, they’re trying to meet basic, non-discretionarycosts or avoid running out of income. Specifically, of financialadvisors who have clients who changed their retirement plans, 34percent did so as a result of non-discretionary expenditures suchas unexpected health costs, and 43 percent did so to avoidoutliving their income. Only 21 percent changed their plans to havemore discretionary income.
Sun Life Financial is one of several co-sponsors of National Retirement Planning Week, which begins today.
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