The stock markets and the economy have rebounded substantially since the crisis. But the confidence of investors over age 55 has not.
A recent survey of 3400 adults showed that 80% are seeking a safer, more predictable path toward retirement than before the crisis.
Ideal investments centered on guarantees of principal and were preferred by 67% of respondents.
Products that protect income from market loss were a close second at 62%. Fifty-eight percent wanted guaranteed increases in income over time and 50% wanted income to be provided to family if they died.
Only 19% favored investments with potentially higher returns that also carry higher risk.
The survey also vividly points out the psychological effect of the crisis, not just the economic impact.
Ken Dychtwald, who studies the impact of aging on multiple industries, notes that people are adopting a willingness to work longer and an approach to retirement that makes it more affordable.
As our clients’ attitudes toward retirement change, our advice to them also must change. The most common theme that stands out in almost anything you read today is that the world is changing and the way we serve our clients must adapt to those changes.

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