The number of Americans prepared to meet their basic expenses in retirement has drastically declined in the last 20 years, according to research published by Boston College.
This study confirms, at least to some degree, that it’s not only the millennial generation that has difficulty knowing when to cut out the avocado toast or whatever luxury de jour may be standing in the way of retirement. Retirement planning is a source of anxiety for all demographics.
The question for financial advisors now becomes “How can you get investors to turn the tide?”
Perhaps the answer is getting those people to meet their future self.