Few making changes to retirement plans

Posted on: Thursday, December 08, 2011

A new study indicates retirees are generally satisfied with the retirement plans they're purchasing from agents.

According to the Financial Planning Association's Financial Adviser Retirement Income Planning Experiences, Strategies and Recommendations Study, planners report that 76 percent of their clientele did not make significant changes to their financial plans or lifestyles within the past year. In addition, of those who intend to retire within the next five years, 66 percent did not make any major changes.

However, the study also found that respondents often wanted a single product that helped them with their retirement income planning rather than several.

Jack Gardner, president of Thornburg Securities Corporation, which helped fund the study, said the results are positive but planners could be doing a better job.

"The FPA survey shows that financial planning strategies are improving, but we still have a lot to learn," said Gardner.

This study is an indication for insurance agents that they are responding well to their clientele, pointing them in the direction of retirement plans that will help them secure their financial futures.

Posted In: Insurance News, Marketing & Advertising

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