The old maxim declares that money can’t buy happiness. It seems an addendum to that says money can’t buy peace of mind, either, at least according to the latest survey from Charles Schwab Institutional. The “Independent Advisor Outlook Study” shows that even affluent clients are not immune to the retirement worries that plague the majority of Americans.
Sixty-one percent of the advisors surveyed say their clients are concerned that they will have enough retirement savings to maintain their desired lifestyle. Thirty-five percent more say clients worry about that some of the time. Nearly four in 10 clients consider themselves to be retired, but nearly six in 10 of those are pursuing a new career interest. At the same time, 71 percent of advisors’ retired clients spend some of their time volunteering. Nearly 70 percent of advisors say clients want their children and grandchildren to be more educated about investing.