Clients who are near or in retirement may be thinking about how best to approach legacy planning.
The answer is NO, especially if you are investing for retirement. Retirement investing is particularly intricate because the goal is not just total return, it’s lifetime income. Interest rates are historically low making savings accounts, CD’s and bonds somewhat unattractive for investors needing substantial growth. Most CD’s are still paying sub 2% interest.
Retirement U for Advisors™ offers two online learning modules approved for 1.0 CE Credit for CFP, and IMCA has accepted these online courses for 1.0 hour of CE credit towards the CIMA®, CIMC® and CPWA® certifications.
Helping Americans grow and protect their retirement savings represents the single largest opportunity for advisors hoping to grow their business.
Need proof? For the next 15 years, an average of 10,000 Americans will turn 65 each day.1 More than half of them likely underestimate how long they’ll need their retirement savings to last.2
The new year is fast approaching, and soon you may be meeting with your clients to review their retirement savings programs. Many investors have rightly focused on the accumulation phase of retirement saving – seeking an appropriate balance between potential reward and potential risk, and determining the optimal asset mix to achieve that balance.
Voya Retirement UTM strives to keep advisors equipped with the latest information to enable you to demonstrate your value to clients. The newly released Voya Global PerspectivesTM Q3 2017 Market Update titled “The Teflon Markets, Growth & Reflation” offers a look at what transpired in the markets during the third quarter of 2017.
While many advisors are experts at wealth accumulation, there is an urgent need for effective ways to structure retirement income plans. Because of the risks clients face — economic and market uncertainty, inflation, outliving available income, changes in social safety nets and escalating healthcare costs — advisors need all the latest thinking and techniques to address changing needs.
I don’t need to be the director of The American College’s Retirement Income Certified Professional Designation to know that retirement income planning has to be a customized process for every client, I just have to look at my own family. My oldest sister had an encore career owning and running a framing shop—followed by moving to her college town.
A recent survey of Americans at retirement age finds that three-fourths of respondents with advisors want their advisors to educate them on retirement risks. Of those who want more education, only 24% can pass a retirement literacy quiz. Those who didn’t think more education is important scored even lower (see figure).
“Consistency” can mean different things to different investors depending on where they are on their path to retirement. But no matter what the definition, consistency in investing is key in achieving retirement goals.