The Principal Financial Well-Being IndexSM Retiree Questions - Third Quarter 2007
Meeting with Financial Planners
An overwhelming majority of retirees (65%) have never had a financial planner. Another seven percent have given up their financial planner since they have retired. Thirteen percent meet with their financial planner less often now that they are retired. Conversely, seven percent of retirees have obtained a financial planner since they retired and an additional seven percent of retirees say they meet with their financial planner more often now that they have retired.
Table 37
"As a retiree, how often do you meet with your financial planner compared to before your retirement?"
| 3 Qtr 2007 Retiree | |
|---|---|
| I never had a financial planner. | 65% |
| I meet with my financial planner less often now that I'm retired. | 13% |
| I meet with my financial planner more often now that I'm retired. | 7% |
| I did not have a financial planner before my retirement but I do now. | 7% |
| I had a financial planner before I retired, but not anymore. | 7% |
| N=554 |
Financial Security in Retirement
Almost half of the retirees (49%) say they feel about the same regarding their financial security as they did before they retired. Approximately one-quarter of them feel better about their financial security than before they retired (27%) and about one-quarter of them feel worse about their financial security than before they retired (24%).
Table 38
"How do you feel about your financial security now that you are retired?"
| 3 Qtr 2007 Retiree | |
|---|---|
| I feel the same as I did before retiring. | 49% |
| I feel better about my financial security than I did before retiring. | 27% |
| I feel worse about my financial security than I did before retiring. | 24% |
| N=554 |
