In this Section:

Limra: Fewer Pre-Retirees Feel Prepared For Retirement

“Pre-retirees” are those aged 55-70 and still in the workforce. There are 33 million of them in the U.S. and only one in four of them is “very prepared” for retirement, according to a new LIMRA study. This is a smaller number than in 2010, when 30 percent of pre-retirees surveyed said they were financially ready for the gold watch.

Men were more likely to consider themselves very prepared for retirement. Those who had household incomes of $100,000 or more were more likely to feel very prepared than their lower-income counterparts. However, even among wealthier pre-retirees (those with at least $500,000 in household financial assets), just over half said they were very prepared.

The role of the financial advisor is crucial in helping pre-retirees get ready for the day when they can bid the workplace good-bye, according to LIMRA’s survey.

More from InsuranceNewsNet