Insurance, investments, retirement. These are all things that are incredibly important but can be very confusing at the same time. Steven Trujillo Associate Managing Partner for Northwestern Mutual discussed the value of working with an advisor and the importance of planning for retirement.
Northwestern Mutual’s 2019 Planning & Progress Study found the following statistics on financial preparedness for retirement:
- More than a fifth (22%) of Americans have less than $5,000 saved for retirement, and 15% have no retirement savings at all.
- Nearly half of working adults (46%) expect to work past the traditional retirement age of 65.
- More than half (56%) of Americans don’t know how much they’ll need to retire comfortably.
- On average, people think there is a 45% chance they will outlive their savings, and 41% have taken no steps to address it.
Why should you work with an advisor:
- An advisor can help give you foresight for the future.
- They can help you understand your overall financial picture.
- Help you feel more confident that you’re making the best financial decisions for now and down the road.
What can you expect from an advisor:
- An advisor will help you understand your overall financial picture and goals, design a plan tailored to your goals, and work with you to achieve the goals for you and your loved ones.
- From there, they will help you to see where you are and help you see what you have in place to both grow and protect your income.
- They will recommend products that are suitable for you to fill the gaps that you have.