Many Americans are still adjusting to their new normal as the effects of the COVID-19 pandemic reach into so many aspects of everyday life. No matter how the pandemic is impacting your clients, they are likely wondering how it may impact their financial situation, and in turn, their retirement strategy.
Now is the time to be discussing how certain risks can impact clients’ plans to retire. Things like the rising cost of living, market volatility, and longevity can all derail a savings strategy – and these conversations are important, perhaps now more than ever. But are financial professionals missing an opportunity to help prepare clients for protecting their retirement savings against specific retirement risks? The latest findings from the Retirement Risk Readiness Study* suggest that’s the case.
While some of these worries might be top of mind for clients, for whatever reason, they may not be bringing them up with you. Findings from the study show: