Financial planning is a challenge for most as few have a written financial plan, a personalized retirement plan or work with a financial professional. Retirement is in the future and the present has its own demands and needs like rent, medical expenses, groceries and car payments. According to research ADP Retirement Services commissioned Retirement Insights, LLC to conduct, survey respondents believe they’re on track or ahead of their retirement goal; however, most report workplace retirement plan savings of less than $100,000.

To compound the situation, many employees – especially those in small businesses – don’t have access to a retirement plan at work. A recent AARP study found that nearly half (48%) of private sector workers between the ages of 18 – 64 aren’t offered retirement savings options from their employer. Access to an employer-sponsored retirement plan differs substantially by education, income, race, and ethnicity as well:

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