Family was cited by 43% of Americans as their source for
financial advice, while 39% said they turn to friends, according to a press
release. Financial advisers ranked third with 36% of respondents naming them as
Only one-third of Americans cited online or television
news as a place to get financial information, and newspapers ranked lower at
28%. The least popular choices are advertisements (11%), blogs and online
forums (10%), and TV personalities (10%). The answers for these categories were
consistent across all age groups, Sun Life said.
However, the Unretirement Index found dramatic
differences between where younger workers and those closer to traditional
retirement age turn for advice. Sixty four percent of workers ages 18 – 29 look
to family members for advice, while less than 20% seek the help of a financial
adviser. Conversely, workers in their 60s are more likely to seek guidance from
a financial adviser (45%) than a family member (33%).
The Unretirement Index, launched by Sun Life in October 2008 (see Sun Life Tracks “Unretirement”), gauges how economic, financial, and societal forces affect working Americans, and forecasts their future retirement decisions that will impact individuals, the government, employers and the larger economy. The Unretirement Index can be found at www.unretirementindex.com.