Insights | 07.26.22
Majority of 401(k) Savers Want Help From Advisors, Schwab Says
Employees who have 401(k) plans are afraid inflation is eating away at their savings and they are turning to financial advisors for help, according to a survey from Schwab Retirement Plan Services. According to the survey, 60 percent of participants said their financial situation warrants professional advice, and 55 percent said they would be very confident making 401(k) investment decisions with the help of a financial professional. Participants said they want help with how to invest their 401(k) account, calculating how much money to save for retirement, creating an income stream in retirement, determining at what age they can afford to retire and anticipating taxes in retirement.
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