Only 18% Have A Written Financial Plan

| March 30, 2019
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According to Fidelity, the findings suggest there is an opportunity for those who are simply thinking about it to take the first step toward more mindful planning – a good starting point in establishing habits that can eventually develop into a more disciplined approach for the long term.

This lack of planning cuts across generations, too. Nearly four out of five Baby Boomers (79%) don’t have a written financial plan for retirement, which Fidelity contends is alarming given that this generation stands at the door of retirement, if they haven’t already retired.

Boomers are not alone, however, as the large majorities of those belonging to other generations – Millennials (87%) and Generation X (81%) – also have not created a plan.

Many respondents also admit to worrying about uncertainties related to their lifestyle in retirement, causing them to question whether they’ll be able to live the life they want. When asked which of the lifestyle “what ifs” worry them most, concerns related to their personal finances emerge as a common theme.

“Having to downsize my home or move due to high cost of living,” “adjusting my lifestyle to fit a fixed income” and “outliving my assets” make up 49% of respondents’ main worries, with the fear of outliving their assets as the single largest concern at 24%.


Stay Tuned, Disciplined & Patient! {TJM}

The Investor & Character Equation (ICE) | S + R = O


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