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Research You Can Use to Grow Your Business!
Accomplished retirement plan
professionals would agree that retirement plan research
is vital to their success. The ability to access data to
understand trends and savings behaviors is critical to
helping advisors grow their business.
Various research and studies made available by the ING Institute for Retirement Research (IIRR)
suggests some
interesting facts about the savings behaviors of many
Americans facing the retirement crisis today:
-
An
individual’s greatest fear about retirement is
needing to rely on their children for financial
support.
-
Retirees
spend more time watching TV during retirement than
traveling or participating in charity work.
-
In a
recent survey, 26% of respondents are not sure at
what age they will retire.
-
Women’s
planned retirement age is 64 while men are planning
to retire earlier at age 62.
-
Positive
messaging is more effective in motivating
participants to increase or join a retirement plan
versus negative or fear-based messaging.
-
Americans
look to their employer to give them retirement
savings options…they do not think the Private
Retirement System should be a main priority for
Government “intervention”.
Insights like these may be
profoundly important if you are an advisor having
retirement planning discussions with 401(k)
participants. Understanding the emotional and
psychological factors that influence individuals nearing
retirement may assist you in responding to the unique
needs and knowledge level of your clients. Research
without an action plan can just be a lot of statistics.
Research you can use to serve your clients and grow your
business can make a real difference in your practice.
Through research, studies, tools and
work facilitated by ING’s
Institute for Retirement Research,
ING
is a resource for advisors like you seeking to better
understand participant behavior. The goal of the
Institute is simple – to provide research you can use so
you can help your clients work toward positive
retirement outcomes and demonstrate your value. Research
papers on plan design trends and legislative updates are
also available to help your clients manage their plan
more effectively. Leverage this research made available
to you and your clients at:
www.ingretirementresearch.com.
Look for upcoming articles by
ING in the 401kExchange Weekly
Exchange Newsletter. In our next article, we'll share
what our research has told us about fiduciary support
and what advisors may want to be thinking about as the
legislative landscape continues to evolve in the
fiduciary space.
To view the complete ING profile on 401kExchange.com
<click
here>
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