More Americans want to be more free, engaged and purposeful in retirement and are seeking help to plan for those years, according to panellists at the Securities Industry and Financial Markets Association’s virtual roundtable this week on investing in retirement.

Around 86% of adults and 89% of retirees surveyed by Edward Jones in May to June 2020 said they wish “there were more ways for retirees to use their talents and their knowledge for the benefits of communities and societies at large,” according to Alex Reed, senior reputation management specialist at Edward Jones. The survey had 9,000 adult respondents in the U.S. and Canada.

“Retirees today told us they view retirement not as a time to wind down and relax but as a whole new chapter in life,” Reed said at the conference.

Reed highlighted Edward Jones’ four pillars of addressing retirement planning: health, family relationship, strong sense of purpose and finances. He also said that 77% of pre-retirees are seeking resources that “go beyond finances to help them plan retirement.”

A study conducted by T. Rowe Price using data gathered from 2001 to 2015 shows, meanwhile, that “only four in 10 retirees said they use the financial professional to help them plan for retirement," Joshua Dietch, group manager of retirement thought leadership at the firm, said at the conference.

“There's a large gap in terms of helping [give] advice that people need to make incredibly complex financial decisions and the availability of the help to actually make those decisions,” Dietch said.

More so, most retirees are trying to “preserve their assets, instead of spending it down,” owing to “different uncertainties” that might happen at some point in retirement, according to Sudipto Banerjee, senior manager in the retirement thought leadership group within global brand marketing at T. Rowe Price.

“I think, advice, particularly professional advice would be a huge help particularly … when coming to address these sorts of concerns,” Banerjee said.

Dave Goodsell, executive director of the Center for Investor Insight at Natixis Investment Managers, said the challenge is to get millennials engaged in growing assets and planning for retirement.

“This is really how do you get them tax-advantaged strategies that help them grow assets and also how do you educate them and bring them along with what's going to be needed to retire in a secure fashion,” Goodsell said.

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