The eleventh survey in the Allstate-National Journal Heartland Monitor polling series reveals dramatic changes are taking place in the retirement planning landscape due to the recession. As a result, near retirees (age 50+) expect to retire six years later than those who have already retired and 68% expect to work during retirement, up dramatically from statistics of those already in retirement.
Although not necessarily tied to the recession, one statistic is particularly troubling for financial planners and advisors – those surveyed were twice as likely to say they had a “great deal of trust” in friends and family members to give them retirement advice than they were to trust financial and investment advisors, banks, or investment firms. Apparently, financial planners and advisors have a great deal of work to do to inspire confidence and trust. Click here to view the complete report.
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