How Should You Handle Your Retirement Account?
Boomers are starting to question the efficacy of their 401(k)s as they reach and enter retirement age. Over half of retired boomers have reallocated the money that they had in 401(k)s in to individual retirement accounts. This statistic goes even higher, to 80%, for those that have met with financial advisers. Recent studies have shown that those that elected to move their savings from the 401(k) have a better plan set in place for retirement. This demographic goes hand in hand with those that met with financial advisers. These retirees had a definitive hold on how they will pay for their expenses in retirement and exactly where that money will come from. This trend shows that most Boomers are becoming more aware of how important having a retirement plan in place is and are more than willing to work with experts to make their plans accessible and realistic. For more information on this topic, visit this article by Mary Beth Franklin with Investment News.