A recent study conducted by Scottrade identified that the vast majority of people who are investing do not act on their own for retirement planning and while some of them are satisfied that the advice they receive, many investors are also confused, cynical or even overwhelmed.
The majority of U.S. investors have made the decision to partner directly with an advisor for retirement planning. Approximately two-thirds of people in the United States are working directly with a financial professional to help them with the retirement planning process and nearly half of them are extremely satisfied with the way their financial advisor has managed their retirement assets.
Nearly half of investors in the United States, in particular GenXers and Millennials, are overwhelmed with the investment choices available and have trouble finding the right advisor.
The challenges associated with retirement planning mean that far too many people choose not to take any action. There are clear parallels between retirement planning and the lack of estate planning, since many people find the process confusing or overwhelming without the help of an outside professional.
It is just as important to identify an experienced professional to help you navigate the estate planning process as it is to find someone to assist you with your retirement. Your estate planning attorney can make recommendations about your individual situation and help you navigate this complex process to determine a plan that works for your individual needs.