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.
Saba pushed; the justices pushed back - and the SEC keeps the gavel.
Two restrictive covenants gone in one ruling - and the drafting flaw is everywhere.
Clients' everyday realities, anxieties, and aspirations naturally change as they go up the wealth scale – and that has profound implications for advisors helping them find what "enough" really means.
The RIA technology giant's new office features a fitness center, café and outdoor community spaces, including a beehive, picnic area and herb garden for over 100 employees.
Liquidity risk overtakes access as the top concern for E&Fs as private markets dominate portfolios.
As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.
In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.
