The New Retirement Mindscape^®

In the Ameriprise Financial New Retirement Mindscape study, respondents were asked what they valued most from their financial advisor when planning for retirement. Having a financial advisor who "understands me" was one of the top responses. In fact, an advisor who understands what is important to an individual was ranked equally as important as achieving competitive returns on their money (88 percent), among those who currently work with a professional advisor.

According to Ken Dychtwald, Ph.D.,CEO of Age Wave, who worked with Ameriprise Financial to create the study, "baby boomers may be the largest generation in history but they want advice one individual at a time. Across the board, the people in our survey who were working with an advisor reported being more fulfilled in retirement, more financially prepared and more optimistic about retirement."

The New Retirement Mindscape study found that working with an advisor has many tangible lifestyle and psychological benefits, which go beyond the financials. People seeking help from an advisor are generally more positive in their outlook for retirement. In fact, 82 percent of pre-retirees who work with an advisor believe that their retirement dreams are achievable, compared to 66 percent of those without an advisor.

Furthermore, those who work with an advisor are better prepared financially — pre-retirees are more likely to save in a 401(k) (82 percent) compared to those without an advisor (62 percent). Pre-retirees are also much more likely to have set aside funds in other savings or investment accounts for retirement (88 percent) versus those without an advisor (61 percent).

Having a written financial plan also has a positive impact on Americans and their retirement. Among retirees who have a written financial plan for retirement, 74 percent report that they are enjoying retirement a great deal, compared to 56 percent of retirees without a plan. Additionally, pre-retired respondents with a written financial plan anticipate feeling more optimistic in retirement (84 percent) than those without a plan (69 percent).

For more information about the New Retirement Mindscape study and the benefits of working with a financial advisor, visit ameriprise.com.

Financial advisory services and investments offered through Ameriprise Financial Services, Inc., Member FINRA & SIPC, an Ameriprise Financial company.