If only there was a bailout for retirement. In January, Bell Investment Advisors' "Affluent Boomers at 60" survey found that of the clients who've changed their retirement plans in the the last six months, two out of three are delaying retirement, with 34 percent planning to work an additional five or more years. Almost 75 percent have reduced spending, and nearly half have changed their investments.
What's more, survey findings from NAVA, the Association for Insured Retirement Solutions, show nearly 100 percent of advisors say they've noticed an increase in clients' level of anxiety about future financial security (a bit of an understatement). About 30 percent of financial advisors said they anticipate a significant increase in their clients' interest in financial vehicles that offer guaranteed lifetime income. Cathy Weatherford, President and CEO of NAVA says volatile markets have been a challenge to even the most savvy of clients and the most experienced of advisors.