How Important is a Financial Advisor?

A large part of CFS's advocacy is focused on making sure all Americans have access to financial professionals who can increase financial literacy and ensure access to financial products that are an important part of securing the American Dream.  LIMRA is out with a study this month that attempts to quantify just how important a financial advisor can be.

Key point:

Similarly, 48 percent of pre-retirees who work with an advisor have estimated how many years their assets and investments will last in retirement, as opposed to 23 percent who do not work with one. And 37 percent of advisor-affiliated pre-retirees have identified the activities they plan to engage in and their likely costs, versus 26 percent of pre-retirees who are without an advisor.

A Picture is Worth a Thousand Words

The good folks at EduTopia have a great infographic showing the value of financial literacy:

(Illustration by Jude Buffum)