- The majority of Americans feel responsible for making sure they’ll have what they need for retirement.
- Many are worried they aren’t putting away enough.
- Most lack the financial know-how to invest properly so they need your help.
According to the Aegon Retirement Readiness Survey*, Americans are aware of the need to plan financially for retirement. You may already know from working with your clients that there are a number of reasons why they aren’t doing it, or they may not be doing enough of it. The fact is, only a small percentage feel they understand financial matters well enough to get started. This is the sweet spot where they really need your help as a financial professional.
Tools you can use with clients
Check out our infographic to see where Americans stand on retirement readiness. Share it with your clients and prospects to see if they relate. Then let them know you’re here to help guide them toward a better position. Sometimes all they need is a simple list of action items.
They may not even know where to start to put this together for themselves, so we created a checklist. Share it with your clients to help them prepare by obtaining some financial knowledge, working with you for guidance, and getting the math done on what they need for retirement so they can set goals and expectations.
Let your clients know the longer they wait to create a strategy for their retirement, the more they are losing precious time when they could be investing more and letting compound interest build. If they think they can just rely on Social Security and employer benefits to take care of them, they may be in for an unpleasant surprise as government retirement benefits are becoming more of a concern with dire predictions that it could run out by the year 2034.
The future of retirement is truly looking more like a self-funded affair. Anything coming from Social Security or employer programs should just be considered icing on the cake they baked themselves.
Download the checklist of action items for retirement readiness and use it to start a conversation with your clients today.
Things to Consider:
- Help your clients understand they are not alone if they feel unprepared for retirement, but you can help them.
- Share a list of action items with them to help them create a strategy.
- Work with them through each step to help them set goals to stay on course.
Neither Transamerica nor its agents or representatives may provide medical, tax, investment, or legal advice. Anyone to whom this material is promoted, marketed, or recommended should consult with and rely on their own independent tax and legal advisors and financial professional regarding their particular situation and the concepts presented herein.
Transamerica Resources, Inc. is an Aegon company and is affiliated with various companies which include, but are not limited to, insurance companies and broker dealers. Transamerica Resources, Inc. does not offer insurance products or securities. The information provided is for educational purposes only and should not be construed as, medical, insurance, securities, tax, legal or financial advice or guidance. Please consult your personal independent advisors for answers to your specific questions.