Insights | 07.08.20
Study Finds a Conversation Gap in Retirement Planning
People who aren’t yet retired are worried about running out of money after they do retire, but they aren’t communicating that fear to their financial advisors, an Allianz Life study revealed. The study findings show a conversation gap that advisors can use to help clients protect their retirement savings from risks such as longevity and market volatility, according to Kelly LaVigne, Allianz Life vice president of consumer insights. Allianz found that although people who have already retired are fairly confident about how long their money will last, six in 10 non-retirees said running out of money before they die is one of their biggest concerns. But only 27 percent of non-retirees who work with a financial professional have discussed this aspect of longevity risk and less than 15 percent have shared their concerns that they won’t have enough money to do the things they want in retirement.
Read the full article on Insurance News Net.