June 18, 2015 Fact of the Day: What are the concerns of retirement plan participants?
DID YOU KNOW THAT MORE THAN HALF OF RETIREMENT PLAN PARTICIPANTS UNDER THE AGE OF 50 REMAIN CONCERNED ABOUT FINANCING THE EDUCATION OF THEIR CHILDREN?
In fact, 58 percent of retirement plan participants under the age of 50 indicated that they are worried about education costs, primarily college.
This concern remains the same for both men and women. Similarly, these young retirement plan participants are also worried about aging parents with 47 percent of those under age 35 listing this as a concern and 51 percent of those between the ages of 35 and 49 citing this as a worry. Who is the most worried about aging parents? Sixty four percent of those over the age of 65 are worried about aging parents.
Financial advisors and providers must assist investors with these critical issues. Most people don’t know where to turn for advice regarding these issues. Do you have aging parents? Do you know where to go?
To learn more about retirement plan participants, click here or contact Randy Wostratzky at firstname.lastname@example.org or 224-544-5195