New research from the Insured Retirement Institute finds middle-income baby boomers lack confidence and resources to maneuver into retirement, and that this segment is largely underserved by financial professionals.
Middle-income boomers are defined as those with income between $30,000 and $74,000.
According to IRI, these boomers recognize the need for retirement planning, yet only half have determined their financial need for a comfortable retirement. Additionally, while roughly one-half (48 percent) say they lack the confidence to work through the ins and outs of investing, less than 50 percent have contacted an investment advisor. Of those needing advice, only 43 percent have contacted an investment advisor, leaving a substantial gap for advisors to fill.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
