25 TRILLIONThe shelves are bulging with books on retirement, added to that the seemingly limitless number of newspaper columns, podcasts, financial websites & blogs that deal with every conceivable aspect of retirement. So what is there new to say on the subject? Actually, plenty, and that means finding even more authoritative data and projections that provide a clear-eyed picture of the retirement market. One of the best sources is the LIMRA Secure Retirement Institute’s 2015 Retirement Income Reference Book, a valuable tool for the industry and professionals, which has these key findings:

  • There are nearly 48 million retirees in the United States. The number of retirees in the U.S. will increase by nearly 40 percent in the next 10 years.
  • Investors aged 60+ control nearly 60 percent of all U.S. financial assets. By 2023, nearly $25 trillion will be available for creating retirement income.
  • Maintaining life style in retirement is the most important financial goal for retirees and pre-retirees.
  • High-net-worth households (HNWs) are more likely to use personal financial advisors — 8 in 10 work with an advisor.
  • Clients with a formal plan give advisors a larger share of their portfolio. 55 percent of HNWs with a formal plan have entrusted more than 75 percent of their portfolios compared to 38 percent of those without a plan.