According to a recent study by the Hartford Financial Services Group, Hartford, Conn., many older Americans near the age of 65 are pessimistic about their short- and long-term financial future, particularly regarding retirement.
"The economic turmoil of the past few years has taken a major toll on the retirement dreams of those age 60 and older, especially those in their 60s," says E. Thomas Foster Jr., vice president and national spokesperson for The Hartford's Retirement Plans Group. "The financial services industry – financial advisors in particular – need to reach out to their mature clients to help them get back on track."
Twenty-eight percent of respondents ages 60-60 and 33.3 percent of respondents ages 70 and older say they have "no idea" when retirement is possible, the study finds, and 36 percent of respondents ages 60-69 believe retirement will be postponed for up to two years or longer.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- 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.
