When asked about their plans for future savings rates, retirement plan participants frequently have the best of intentions. That’s even more likely when market performance has been strong. One late-December investor survey indicates this is case as investors looked ahead to 2018. Among investors’ most common financial resolutions for 2018:
- A healthy 40% want to save at a higher rate – including more than half of those in the 25-34 and 35-54 age brackets
- More than one-third want to learn more about investing, trading, and the markets
- Nearly 40% plan to change their asset allocation to better reflect market conditions
This presents a great opportunity for those plan sponsors who are planning to offer participant education early in 2018. Many QPA advisors are planning to be on the road and meeting with participants over the next several weeks. Look for them to capitalize on participants’ best intentions surrounding those three topics: (1) saving more; (2) becoming better educated; and (3) re-assessing their appropriate investment allocations. If you have questions about how to make sure your employees receive that information, please be sure to reach out to your advisor.