Money woes contribute to the delay of “a major life event” according to new research, posted to Digital Journal.
The results of the 2017 MFS Heritage Planning Survey show financial considerations cross generational lines, with six in ten investors saying they have put off a significant life event due to their finances; two-thirds say that includes rising healthcare costs as a top concern.
“Clearly, the barrage of headlines surrounding the recent US elections and the Affordable Care Act has left many investors unnerved,” Jim Jessee, Co-Head of Global Distribution with MFS, is quoted saying.
“And although these are real concerns, they aren’t insurmountable. Financial advisors can add a lot of value by talking to their clients about the things that keep them up at night and helping them get their financial houses in order.”
The survey showed that boomers are more concerned with healthcare costs, while millennials and Gen-Xers worry that they won’t be able to save enough for retirement.
“Unfortunately, many Generation X investors are woefully unprepared for retirement. They simply haven’t saved enough, and unlike many of their parents, they don’t have pensions or defined benefit plans to fall back on,” Doug Orton, MFS Director of Business Development, is quoted saying.
“They are desperately looking for guidance. In fact, 85 per cent of Generation X investors surveyed said they look to their financial advisor for retirement savings advice and approximately 60 per cent say they will rely on their advisor more in the coming years.”
More: Financial worries a generational constant.

ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans – ARIA pensions blog, 12 Dunlop Street, Barrie, ON, L4N 1V6 –


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