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Nearly half of U.S. households (48%) disagree with the statement, “My employer is responsible for providing for my retirement,” about the same as in 2011, according to financial benchmarking firm Hearts & Wallets (H&W) research of nearly 6,000 U.S. households, Attitudes & Sentiment 2024: Goals, Beliefs and Needs in an Era of Rising Financial Confidence. 

It is unclear whether this means they don’t think their employer should be responsible, or that their employer is simply not accepting responsibility. More key findings:

  • Americans are increasingly open to leaving money in former employer retirement plans, with 21% in 2024 agreeing vs. 15% in 2011.
  • Feelings of being experienced as investors are the highest in 15 years, as long-term trends indicate a growing perception in the value of paid financial advice.
“Consumer empowerment and advice from a paid investment professional may seem contradictory, but they aren’t,” said Laura Varas, Hearts & Wallets CEO and founder. “As more U.S. households gain confidence in investing, they're becoming more self-reliant in making financial decisions, yet with self-reliance comes the increasing realization of the value paid advice. Winning service models will cater to consumers who are empowered and seek professional advice.”

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