Financial advisors say the economic crisis has not just crippled, but "severely jeopardized" their clients' retirement security. According to Brinker Capital's Retirement Indicator, 88 percent of advisors say their clients are off-track for a timely retirement, largely due to market depreciation.
Seventy-four percent say it will take at least one to five years for their clients to make up the retirement savings shortfall. Almost all advisors (97 percent) blame market depreciation, while 51 percent said their clients didn't start saving soon enough and 47 percent noted "general procrastination" as a reason.
- 88 -- Percent of advisors who say their clients are off-target for a timely retirement.
- 74 -- Percent of advisors who say it will take at least one to five years for their clients to make up the retirement savings shortfall.
- 97 -- Percent of advisors who blame market depreciation.