Roughly Half of Retirement Investors Rely on Themselves for Advice
July 22, 2002
A survey conducted by a not-for-profit group devoted to educating people about retirement investing released a survey showing that roughly half of the nation's retirement investors rely on themselves instead of advice from a financial planner or employer.
The Stable Value Investment Association surveyed 500 workers who hold 401(k) or other retirement accounts, as well as 300 retirees with at least $5,000 invested.
The results show that 52% of all retirees and 48% of working Americans depend on themselves when they make decisions about investing for retirement.
Fifty-three percent of the workers said they rely on information provided by an employer or plan provider, while only 12% of retirees said they rely on those resources.