It turns out that most everyone regardless of age — millennials, Gen Xers and baby boomers — are stressed out about retirement, according to a survey from the National Association of Personal Financial Advisors (NAPFA).
The survey, which assessed the financial health of Americans, found that stress around finances transcends generational differences. In fact, 74% of respondents said they want a financial planning do-over.
More than half (59%) of millennials haven’t considered their options for retirement, the survey found, while one in three baby boomers hasn’t done any financial planning in the last two years.
The different generations are consistent in their goals regarding money, which include planning for retirement (61%), achieving greater savings (52%), and paying off debts (50%). Yet, their priorities for planning differ by age and proximity to retirement. Millennials, for example, put a higher emphasis on increased savings (59%), with one in three worried they will need to support their parents financially; while planning for retirement is top of mind for 69% of baby boomers.
Plus, a $400 million Commonwealth team departs to launch an independent family-run RIA in the East Bay area.
The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.
“I respectfully request that all recruiters for other BDs discontinue their efforts to contact me," writes Thomas Bartholomew.
Wealth tech veteran Aaron Klein speaks out against the "misery" of client meetings, why advisors' communication skills don't always help, and AI's potential to make bad meetings "100 times better."
The proposed $120 million settlement would close the book on a legal challenge alleging the Wall Street banks failed to disclose crucial conflicts of interest to investors.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
