WHAT WILL THE FUTURE OF FINANCIAL & RETIREMENT PLANNING TRENDS BRING?

Retirement planning will shift across 2024 and 2025 towards more tailored strategies factoring in complete financial pictures plus lifestyle priorities, health needs and life stage flexibility. With longer post-workevity ahead, customized income plans, expense forecasting, estate planning and later-years goal-setting become essential. Advisors will guide readiness across assets, taxes, healthcare, family and housing variables in an integrated manner.

Embracing Annuities and Guaranteed Income Solutions

As pension disappear, insuring consistent income streams is key for retirement security. Annuity products providing guaranteed payouts are gaining Appeal to combat volatility amid market uncertainty and rising lifespans. Hybrid annuities allow lumpsum liquidity also. Some countries are pioneering default auto-enroll retirement annuities as well. Advisors will play a pivotal role in educating clients on options.

Digital Tools Driving Self-Service Capabilities

Intuitive retirement planning applications will enable DIY scenarios, projections and real-time tracking for confident decision-making. Natural language and gamified experiences simplify complex modeling on demand. As access expands, individuals can self-educate across savings goal setting, drawdown strategies, longevity planning and aggregate view across investment accounts. Advisors benefit too from productivity upgrades.

Workplace Financial Wellness Programs

Employers will implement financial literacy offerings like student debt counselling and 401K planning support as core wellness benefits. The practice aims to alleviate stress hindering productivity and boost recruitment/retention. Some companies provide matching retirement contributions when employees hit certain savings milestones also. The role expands the vital last mile policy opportunity before retirement.

Climate Integration in Investment Portfolios

ESG considerations, especially climate risk, will inevitably shape retirement investments and fiduciary responsibilities. From low carbon indices and funds mitigating environment exposures to shareholder activism targeting emissions, climate priorities are centerstage. Supportive policy requires climate fluency for advisors also. Retirees seek assurance their nest egg aligns ethics.