Typical retirement scenario gone

“We believe this statistic has powerful implications for the importance of good financial advice, staying the investment course and getting an early start to a systematic retirement-savings regimen,” says Brinker’s president, John Coyne. “The Retirement Indicator’s results provided a much more optimistic picture of America’s retirement landscape than we had initially anticipated.

The 54 percent of advisors who said their clients were off track in their retirement savings plans blamed it on:

• Starting to save too late — 63 percent.
• General procrastination — 55 percent.
• Not having access to financial advice — 23 percent.

When asked why they thought the concept of a traditional retirement age was not relevant, advisors responded:

• Traditional retirement is just an outmoded concept; people will work as long as they feel able — 59 percent.
• Serious retirement saving began too late for most Americans — 17 percent.
• People are living longer and are therefore working longer — 8 percent.

For more information on this survey, visit brinkercapital.com.