The Wealthy Worry About Retirement, Too

Written by Jeff Helms

The financial world is complex and constantly changing. Those changes can impact our clients and their plans for the future. As the firms founder and Managing Partner, making sense of these changes is my job. We try to simplify communication on market dynamics to make it meaningful and useful for our clients.

September 1, 2015

Even the wealthy aren’t immune to worrying about retirement. That was the conclusion of a new study released by the LIMRA Secure Retirement Institute, which found that less than half of people making upwards of $500,000 a year were “strongly confident” that they would be able to keep up their current standard of living once they retired. This was despite the fact that 70% reported that this was their top financial goal.

The people surveyed fell into three brackets: $500,000 to $999,999, $1 million to $3.5 million, and $3.5 million or more. Among their chief worries about retirement were market volatility, rising inflation, outliving their retirement savings, and unexpected events draining those savings.

Of those that expressed a high level of confidence in their retirement, over half had a written retirement plan. Those with written plans were also far more likely to report feeling well-prepared for retirement than those without. Despite this, only about half of affluent investors have a written retirement plan.

Want to feel confident about your retirement? First Coast Wealth Advisors can help you make a written retirement plan, giving you confidence that your future is secure. Call us today to schedule your financial check-up.