Reminder: You’re doing fine!
And we know you’re doing fine, because you’re reading this and are clearly interested in actively securing your lifestyle in retirement. You are either working to develop a plan for your future or already have one in place. You are ahead of the curve.
According to a study done by MLC, of the Australians who aren’t working with a financial adviser, 77% don’t feel prepared for retirement. Only 9% feel prepared and the remainder only feel ‘somewhat prepared’.
Those of us engaging the help of financial advisers are more than twice as likely to feel ‘very or fairly well prepared’ for retirement than those who are not.
It’s not just about feelings either. Those with financial advisers are 22% less likely to rely on government support to ensure financial security.
We know that trusting others with your hard-earned money can be daunting, but for the vast majority of us, having and developing a plan with an adviser is the difference between being prepared and ready for retirement vs wondering if you’ll ever be able to afford it.
So if you have a plan, you really are doing just fine. If it has been awhile since creating your plan, it may be time to take a look and get it updated. If you don’t have one at all, this year make it your New Year’s Resolution to put one in place.
If you’d like to look at the study from MLC, please click here.