Survey Reveals 89% of 401k Investors Want Asset Allocation Help
A survey conducted by the Boston Consulting Group found that investors find retirement planning is confusing and 89% want help creating their ‘investment recipe’ (aka asset allocation). Here are the other findings of the 2,600 investors surveyed:
- 84% want help “calculating and/or creating retirement income”
- 79% would like an annual review “to set and measure their progress”
- 48% feel they are “in consult of their retirement plan investments”
“Most Americans are busy with their jobs, their families and their personal pursuits, and say that they don’t have the time or interest to become experts in retirement planning,” said Lynne Ford, CEO of ING Individual Retirement. “The results from our study were clear: Americans want a roadmap to help them navigate to and through retirement.”
Ford added: “As a whole, consumers highly value choice, yet too much can be overwhelming. Consumers also value the control to make their own retirement-planning decisions but want detailed instructions on how to accomplish their financial objectives.”
As a whole, consumers highly value choice, yet too much can be overwhelming.