07.20.26

Many Single Americans Lack Financial Plans

by: Financial Advisor

An Ameriprise Financial survey found that many single, divorced and widowed Americans feel confident managing money but lack key long-term financial protections. While 85% of respondents expressed financial confidence, only one-third have a will or estate plan and 29% have long-term-care insurance. Many expect to remain financially solo and increasingly rely on advisors for guidance, with 80% of advised individuals reporting greater confidence about their future. Retirement savings are a top accomplishment, but concerns include running out of money, paying for care and becoming a burden. The findings highlight opportunities for advisors to provide planning, investment and emotional support.

Read the full article on Financial Advisor