The retirement planning market has been active lately, looking into opportunities to reach consumers preparing for retirement. New research from
According to the research, only 40% of pre-retirees say they have a bucket list (a list of things they want to do before they die) or plan to have a bucket list for their retirement years.
“LIMRA’s research indicates that less than a third of pre-retirees within three years of retirement have a written retirement plan,” says Paul Henry, managing director, LIMRA retirement products. “What we hear from pre-retirees is that the idea of planning for retirement seems complicated and overwhelming, and advisors have told us that their clients often are unprepared to begin the process of retirement planning.”
To help consumers with this planning, LIMRA developed a new, interactive Web application, Ready-2-Retire. The app is designed to offer consumers visual prompts to help them identify their retirement priorities, such as where they will live, travel aspirations and hobbies. It also provides research-based guidance on potential financial risks in retirement, such as longevity, taxes and inflation.
When completed, consumers will have a retirement profile that they can send to their advisers, helping them create an appropriate retirement plan.
