While the Covid pandemic has caused more Americans to focus on saving, what to watch on Netflix and other streaming services still appears to be more of a concern than developing a financial plan or spending time on investments.
Those are among the key findings of a survey of U.S. retirement readiness by Schroders, which found that only 26% of non-retired respondents in the 60-to-67 age range said they have enough money saved for retirement. Almost two-thirds — 60% — said they do not have enough saved, and 14% said they did not know if their savings were adequate.
According to the survey, the activities on which Americans focused more during the crisis included health and fitness (53%), spending time with family (52%), saving for the future (39%), what to watch on Netflix and other streaming services (38%), planning to enjoy life more/bucket list (36%), developing a financial plan or strategy (29%) and their investment portfolio (26%).
While 38% of respondents reported saving less money since the start of the crisis, 43% said their savings rate was unchanged and 19% said they are saving more.
The majority (62%) of all working respondents to the survey said they plan to keep working in retirement in order to stay busy (57%), because they enjoy working (56%) and to cover basic living expenses (53%).
Schroders said its annual U.S. retirement survey was conducted in late January among 1,000 U.S. consumers between the ages of 45 and 75.
Chasing productivity is one thing, but when you're cutting corners, missing details, and making mistakes, it's time to take a step back.
It is not clear how many employees will be affected, but none of the private partnership’s 20,000 financial advisors will see their jobs at risk.
The historic summer sitting saw a roughly two-thirds pass rate, with most CFP hopefuls falling in the under-40 age group.
"The greed and deception of this Ponzi scheme has resulted in the same way they have throughout history," said Daniel Brubaker, U.S. Postal Inspection Service inspector in charge.
Elsewhere, an advisor formerly with a Commonwealth affiliate firm is launching her own independent practice with an Osaic OSJ.
Stan Gregor, Chairman & CEO of Summit Financial Holdings, explores how RIAs can meet growing demand for family office-style services among mass affluent clients through tax-first planning, technology, and collaboration—positioning firms for long-term success
Chris Vizzi, Co-Founder & Partner of South Coast Investment Advisors, LLC, shares how 2025 estate tax changes—$13.99M per person—offer more than tax savings. Learn how to pass on purpose, values, and vision to unite generations and give wealth lasting meaning
