HOW TO PROVIDE THE BEST RETIREMENT ADVICE IN 2020
February 1, 2020 by The American College of Financial Services
Every decade brings change, particularly on financial fronts. For those planning for or entering retirement, the thought of change may be worrisome. Yet, with a strong financial advisor at their side, clients can take advantage of many opportunities in the years ahead.
What will 2020 look like for retirement planning?
We can safely assume that employer retirement plans, particularly 401(k)s, will remain quite popular in 2020. You won’t have to work hard to convince clients to take advantage of them, but you can help them improve the way they use their 401(k)s. Specifically, you can encourage clients to optimize the employer match on their 401(k)s and help them choose a contribution percentage that better fits their retirement goals. Additionally, if their 401(k)s have a Roth option, you should encourage them to put some contributions into it. If not, you can help them select a Roth IRA as a way to ensure some of their retirement income will be tax-free.