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Future Retirees Looking More Toward Professional Guidance for Financial Planning - Planadvisor.com
Perhaps it’s an example of how complex the matter of financial planning for retirement has become, or maybe it’s recognition of how educational institutions have dropped the ball on basic life-planning issues. Whatever the reason, it’s interesting to see that younger workers, specifically those considered in the Gen Z and Millennial cohorts, are turning to professional financial advice as they consider what’s ahead of them later in life. Planadvisor.com writer Judy Faust Hartnett explores this evolving trend in a post on their website, noting that “Members of Generation Z and Millennials are saving and planning for retirement much earlier than previous generations, and they’re doing it with professional help.”
Ms. Hartnett’s post notes that the acceptance of financial advice among younger individuals is on the rise, and it’s interesting to reflect on the comment that “For trusted financial guidance, Americans rank advisers far above family or spouses.” This may indicate recognition that the implications of retirement financial planning are vastly different from those of past generations–recognition that fundamental financial education is sorely needed in today’s educational system. In any event, the points explored in the Hartnett article, which you can read in full here, are integral to understanding the evolution of retirement planning.