Exploring formal written plans for asset management and financial or investment-related decisions can help create a solid foundation for investors navigating the retirement journey.
Throughout the retirement journey, investors aspire to live their desired lifestyle postretirement. Financial professionals (FPs) and formal written plans (FWPs) can make crucial contributions to this achievement.
Wealthier or older investors often work with FPs and maintain FWPs, increasing confidence in their retirement plans. Non-retired and younger investors can benefit from FPs and FWPs to advance toward their retirement goals.
 |
 |
Financial professionals and the firms they work for should find ways to promote the use of FWPs, particularly to younger or less-wealthy clients who would likely benefit most from these plans. Exploring formal written plans for asset management and financial or investment-related decisions can help create a solid foundation for investors navigating the retirement journey.
Download this Infographic
LIMRA’s 2023 Retirement Investors Survey tracks the perceptions, attitudes, behaviors, and financial condition of retirees and non-retired workers in the United States.
This survey focused on individuals who are most likely to be considered part of the market for products and services for individual retirement products and services, workers and retirees, age 40–85, with household investable assets of $100,000 or more.
Footnotes
1 Such as determining what their income will be in retirement, estimating how many years their assets and investments will last in retirement, or developing
a specific plan or strategy for generating income from their retirement savings.
2 Suggesting most investors will not be willing or able to develop a comprehensive plan on their own.