News | 11.29.18
Advice Helps Americans Confront Retirement Lifestyle Choices, but Gaps Remain
A survey by Voya also found that even while working with an advisor, few Americans are prepared to confront potential long-term care expenses. The presence of financial advice has a clear impact beyond saving and investing, according to Voya’s research. While 83 percent of respondents with an advisor had thought about how they will spend their time in retirement, only 56 percent of those not working with an advisor had thought about how they will fill their days. Despite the presence of financial advice, long-term care is an area where respondents still need help. Only 26 percent of the respondents with an advisor have saved enough money to cover the cost of long-term care or have purchased a product like long-term care insurance.
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