Picture this scenario: A client prospect walks into your office to seek help, but didn’t tell you what the discussion would be about. If you had to guess the mostly likely reason, which of the following would you flag: (a) how to prepare for retirement; (b) whether to pay off debt before saving for retirement; or (c) should I refinance my mortgage?
If you answered (a), you’d be pretty close to the mark. According to new research, the most frequently cited topic is also retirement-focused, but more specific. More than half of individuals polled in a “2015 LifeCare/FPA Financial Confidence of American Workers Survey” want to know how much money they’ll need to live comfortably in retirement.
“While financial planners who are CFP [certified financial planner] professionals are capable of looking at the entire financial picture of their clients — short and long-term — American workers are thinking more long-term if they were to engage a planner,” the report states. “While housing, saving, paying for college, real estate and other key financial issues are important, they all have a direct impact on how someone plans for their eventual retirement.”