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Products June 8, 2004
Mixed Signals on the Need for Advice
August 30, 2002 (PLANSPONSOR.com) - While the
majority of participants (52%) believe that professional
advice is needed to achieve retirement goals, a surprising
number aren't convinced, according to a new survey.
Reported by Nevin E. Adams
The survey, released yesterday by ING, found that more than a quarter (26%) disagreed somewhat with the necessity of professional advice in achieving their retirement goals, while 12% “strongly disagreed” with the statement – a number nearly equal to the 17% that “strongly agreed” with the need.
One in ten respondents said they “didn’t know” if the advice was a necessity.
“Good” Advice
Survey respondents were split nearly evenly between those who said they had “sampled” professional advice, with 48% saying they had received such counsel. Of those, a whopping 82% said the advice was excellent (32%) or good (50%).
ING commissioned Washington, D.C.-based KRC Research to conduct the nationwide survey of 800 employed or retired individuals age 30 and above. The survey was conducted in June 2002.