Well, according to a recent survey by John Hancock Retirement Plan Services (as reported by the American Retirement Association) there is “an impressive retirement preparations gap among those who use the services of a financial advisor”(sic) and those who do not.
Here are some stats:
- Regarding 401(k)s, those with advisers were more than twice as likely to be saving the maximum (28% vs. 13%) as those without advisers.
- Those with advisers were more than twice as likely to be ahead or on track in retirement savings (70% vs. 33%).
- And the same for those who knew how much they needed to save to be on track: 33% vs. 14%.
- And yet again with saving for emergencies: 58% with an adviser had emergency funds. Only 26% of those without advisers did.
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Your Constructive Comments are Welcome!