Latest news with #AdvisorAuthority
Yahoo
27-05-2025
- Business
- Yahoo
Gen Z Grapples with Debt, Some Spend Freely Despite Low Confidence in Retirement Readiness
Only one in five Gen Z investors say they understand how compounding interest works; four in ten believe the standard retirement age of 65 is not relevant to them COLUMBUS, Ohio, May 27, 2025 /PRNewswire/ -- Despite just beginning their careers, many American Gen Z investors (aged 18-28) are already evaluating their retirement prospects – and many feel uneasy about their financial futures. A new Advisor Authority study, powered by the Nationwide Retirement Institute, highlights the financial challenges of Gen Z investors and the unexpected spending behaviors and digital strategies they're using to navigate them. More than two-in-five (44%) Gen Z investors say they feel behind in their retirement savings goals and are working to catch up. However, Gen Zers are leaning into spending despite long-term financial concerns, with nearly a fifth (17%) saying they are spending more on leisure expenses at this point in their life because they may never be able to retire. As traditional retirement feels increasingly out of reach, Gen Z is beginning to challenge the very concept of retiring at age 65. Thirty-eight percent believe the standard retirement age of 65 is not relevant to them in today's economic environment, and approximately half (48%) now plan to work longer, citing remote work as a factor that makes it unnecessary for them to retire at that age. Gen Z's skepticism is rooted in current financial pressures. Four in ten (40%) feel worried about their ability to afford monthly bills over the next 12 months, and nearly half (46%) cited paying down loans and debts (i.e., student loans, credit cards, mortgages, car payments, etc.) as a top financial commitment in that same timeframe. To further compound this generation's stress, 77% of Gen Zers are also concerned about a U.S. economic recession over the next 12 months. However, many aren't taking proactive steps to address that concern – four in ten (40%) currently do not have a strategy in place to help protect their assets against market risk, slightly up from 32% a year ago. Even more troubling, only a fifth (19%) of Gen Z investors say they understand how compounding interest works when investing over time, potentially limiting their ability to build long-term wealth. "With recent market volatility, it's not surprising that Gen Z savers are somewhat pessimistic about their financial futures," said Kristi Martin Rodriguez, leader of the Nationwide Retirement Institute and financial services marketing for Nationwide. "For these young people, retirement may seem like a lifetime away and feel like a very steep mountain to climb. However, something they may not be considering is that they could potentially live decades longer in retirement than prior generations. As a mother of two Gen Z daughters, I've been stressing the importance of beginning to save right away so they can leverage their most powerful advantage: A long-term horizon that allows them to maximize the power of compounding interest." A New Way of Saving and Investing Gen Z is taking advantage of new, less traditional financial tools to save their hard-earned cash, no longer relying on legacy financial institutions to grow their money. As a generation raised on modern technology, nearly one in three (32%) Gen Z investors use digital wallets (e.g., Apple Pay or Google Pay) and 30% use peer payment platforms (e.g., Venmo or Zelle) to invest, save or store their money. Additionally, a surprising one in five (19%) say they invest, save or store their money in cryptocurrency or non-fungible tokens. Gen Z Investors Delay Seeking Professional Guidance Despite concerns about both the current economic environment and their personal financial standing, many Gen Zers are holding off on seeking professional guidance. A third (33%) of Gen Z investors who don't pay to work with a financial professional indicated it is because they believe they are too young/early in their retirement planning journey to rationalize pursuing financial advice. Instead, they are turning to more accessible – though not always reliable – sources. A quarter (24%) of Gen Z investors who don't have a financial advisor indicated it is because they get any necessary financial advice from online financial influencers ("finfluencers") and social media platforms. While digital content can be a good starting place when it comes to financial literacy, the absence of professional advice may leave gaps in understanding or strategy. That said, personalization is still a key motivator for this group. More than a third (34%) say an advisor who understands their financial goals at this stage in their life would make them more likely to work with a financial professional. "It's great to see Gen Zers seeking out financial literacy from a variety of resources. Knowledge is power, and the more you learn about investing and saving, the better prepared you will be," Rodriguez said. "However, make sure you're working with trustworthy sources, including the most reliable source of all: a trusted financial professional. For those who feel they don't have the means or assets to do so, many workplace retirement plans offer some great educational tools and resources as well as financial guidance that can be both affordable and impactful." Financial Professionals Applaud Gen Z Financial Literacy Advisors who work with Gen Z clients see a generation that is both cautious and capable. A majority of these advisors (62%) believe that Gen Zers are more financially literate than previous generations. Advisors have noted they are spending a significant portion of their time educating Gen Z clients on foundational financial topics. Specifically, 42% of advisors are counseling their Gen Z clients most frequently on investing for the first time (e.g., 401(k)s, IRAs and stocks). Additional topics advisors feel are most important for their Gen Z clients include: The importance of starting retirement planning early (54%) Basic budgeting and building healthy spending habits (52%) Understanding the basics of investing and compounding growth (49%) Debt management and strategies for avoidance (49%) These ongoing conversations suggest that, while Gen Z may feel overwhelmed, many are actively looking to build a solid financial foundation— and advisors see an opportunity to guide them toward long-term success. "It's encouraging to see advisors focused on the right things with Gen Z clients. That includes helping them break the ice on saving and investing, while balancing that opportunity with other financial demands including debt and spending on today's needs," Rodriguez said. "However, to really connect with this generation of savers, advisors are going to need to lead with empathy. Make sure you are considering Gen Zers' unique financial situation and listening to understand. Help them recognize the longevity challenges they will likely face, provide them with education and knowledge to make smart financial decisions and arm them with a holistic financial plan that will help ensure they won't outlive their income in retirement." The Nationwide Retirement Institute offers additional resources to help advisors facilitate conversations with clients. For additional insights on this survey data, see our infographic. Nationwide's tenth annual Advisor Authority study powered by the Nationwide Retirement Institute® explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today's complex market. About Advisor Authority: MethodologyThe Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 610 advisors and financial professionals and 2,524 investors ages 18+ with investable assets (IA) of $10K+, January 6-25, 2025. Among the investors, there were 349 Gen Z investors (aged 18-28). The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data for advisors is accurate to within ± 4.0 percentage points and for investors the sample data is accurate to within ± 2.5 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed populations of interest. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact news@ About The Harris PollThe Harris Poll is one of the longest running surveys in the U.S. tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit About NationwideNationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide is rated A+ by Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; and pet, motorcycle and boat insurance. For more information about Nationwide and Nationwide's ratings, visit or Company Ratings -- Nationwide. Subscribe today to receive the latest news from Nationwide and follow Nationwide PR on X. Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, OH. Nationwide Retirement Institute is a division of NISC. Nationwide, Nationwide is on your side and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. © 2025 NFM-24833AO Subscribe to Nationwide News Contact:Alessandra MohrThe Bliss Group212-840-1661amohr@ Kristen Vasas-SamsonNationwide(614) 435-5716vasask@ View original content to download multimedia: SOURCE Nationwide
Yahoo
27-05-2025
- Business
- Yahoo
Gen Z Grapples with Debt, Some Spend Freely Despite Low Confidence in Retirement Readiness
Only one in five Gen Z investors say they understand how compounding interest works; four in ten believe the standard retirement age of 65 is not relevant to them COLUMBUS, Ohio, May 27, 2025 /PRNewswire/ -- Despite just beginning their careers, many American Gen Z investors (aged 18-28) are already evaluating their retirement prospects – and many feel uneasy about their financial futures. A new Advisor Authority study, powered by the Nationwide Retirement Institute, highlights the financial challenges of Gen Z investors and the unexpected spending behaviors and digital strategies they're using to navigate them. More than two-in-five (44%) Gen Z investors say they feel behind in their retirement savings goals and are working to catch up. However, Gen Zers are leaning into spending despite long-term financial concerns, with nearly a fifth (17%) saying they are spending more on leisure expenses at this point in their life because they may never be able to retire. As traditional retirement feels increasingly out of reach, Gen Z is beginning to challenge the very concept of retiring at age 65. Thirty-eight percent believe the standard retirement age of 65 is not relevant to them in today's economic environment, and approximately half (48%) now plan to work longer, citing remote work as a factor that makes it unnecessary for them to retire at that age. Gen Z's skepticism is rooted in current financial pressures. Four in ten (40%) feel worried about their ability to afford monthly bills over the next 12 months, and nearly half (46%) cited paying down loans and debts (i.e., student loans, credit cards, mortgages, car payments, etc.) as a top financial commitment in that same timeframe. To further compound this generation's stress, 77% of Gen Zers are also concerned about a U.S. economic recession over the next 12 months. However, many aren't taking proactive steps to address that concern – four in ten (40%) currently do not have a strategy in place to help protect their assets against market risk, slightly up from 32% a year ago. Even more troubling, only a fifth (19%) of Gen Z investors say they understand how compounding interest works when investing over time, potentially limiting their ability to build long-term wealth. "With recent market volatility, it's not surprising that Gen Z savers are somewhat pessimistic about their financial futures," said Kristi Martin Rodriguez, leader of the Nationwide Retirement Institute and financial services marketing for Nationwide. "For these young people, retirement may seem like a lifetime away and feel like a very steep mountain to climb. However, something they may not be considering is that they could potentially live decades longer in retirement than prior generations. As a mother of two Gen Z daughters, I've been stressing the importance of beginning to save right away so they can leverage their most powerful advantage: A long-term horizon that allows them to maximize the power of compounding interest." A New Way of Saving and Investing Gen Z is taking advantage of new, less traditional financial tools to save their hard-earned cash, no longer relying on legacy financial institutions to grow their money. As a generation raised on modern technology, nearly one in three (32%) Gen Z investors use digital wallets (e.g., Apple Pay or Google Pay) and 30% use peer payment platforms (e.g., Venmo or Zelle) to invest, save or store their money. Additionally, a surprising one in five (19%) say they invest, save or store their money in cryptocurrency or non-fungible tokens. Gen Z Investors Delay Seeking Professional Guidance Despite concerns about both the current economic environment and their personal financial standing, many Gen Zers are holding off on seeking professional guidance. A third (33%) of Gen Z investors who don't pay to work with a financial professional indicated it is because they believe they are too young/early in their retirement planning journey to rationalize pursuing financial advice. Instead, they are turning to more accessible – though not always reliable – sources. A quarter (24%) of Gen Z investors who don't have a financial advisor indicated it is because they get any necessary financial advice from online financial influencers ("finfluencers") and social media platforms. While digital content can be a good starting place when it comes to financial literacy, the absence of professional advice may leave gaps in understanding or strategy. That said, personalization is still a key motivator for this group. More than a third (34%) say an advisor who understands their financial goals at this stage in their life would make them more likely to work with a financial professional. "It's great to see Gen Zers seeking out financial literacy from a variety of resources. Knowledge is power, and the more you learn about investing and saving, the better prepared you will be," Rodriguez said. "However, make sure you're working with trustworthy sources, including the most reliable source of all: a trusted financial professional. For those who feel they don't have the means or assets to do so, many workplace retirement plans offer some great educational tools and resources as well as financial guidance that can be both affordable and impactful." Financial Professionals Applaud Gen Z Financial Literacy Advisors who work with Gen Z clients see a generation that is both cautious and capable. A majority of these advisors (62%) believe that Gen Zers are more financially literate than previous generations. Advisors have noted they are spending a significant portion of their time educating Gen Z clients on foundational financial topics. Specifically, 42% of advisors are counseling their Gen Z clients most frequently on investing for the first time (e.g., 401(k)s, IRAs and stocks). Additional topics advisors feel are most important for their Gen Z clients include: The importance of starting retirement planning early (54%) Basic budgeting and building healthy spending habits (52%) Understanding the basics of investing and compounding growth (49%) Debt management and strategies for avoidance (49%) These ongoing conversations suggest that, while Gen Z may feel overwhelmed, many are actively looking to build a solid financial foundation— and advisors see an opportunity to guide them toward long-term success. "It's encouraging to see advisors focused on the right things with Gen Z clients. That includes helping them break the ice on saving and investing, while balancing that opportunity with other financial demands including debt and spending on today's needs," Rodriguez said. "However, to really connect with this generation of savers, advisors are going to need to lead with empathy. Make sure you are considering Gen Zers' unique financial situation and listening to understand. Help them recognize the longevity challenges they will likely face, provide them with education and knowledge to make smart financial decisions and arm them with a holistic financial plan that will help ensure they won't outlive their income in retirement." The Nationwide Retirement Institute offers additional resources to help advisors facilitate conversations with clients. For additional insights on this survey data, see our infographic. Nationwide's tenth annual Advisor Authority study powered by the Nationwide Retirement Institute® explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today's complex market. About Advisor Authority: MethodologyThe Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 610 advisors and financial professionals and 2,524 investors ages 18+ with investable assets (IA) of $10K+, January 6-25, 2025. Among the investors, there were 349 Gen Z investors (aged 18-28). The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data for advisors is accurate to within ± 4.0 percentage points and for investors the sample data is accurate to within ± 2.5 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed populations of interest. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact news@ About The Harris PollThe Harris Poll is one of the longest running surveys in the U.S. tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit About NationwideNationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide is rated A+ by Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; and pet, motorcycle and boat insurance. For more information about Nationwide and Nationwide's ratings, visit or Company Ratings -- Nationwide. Subscribe today to receive the latest news from Nationwide and follow Nationwide PR on X. Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, OH. Nationwide Retirement Institute is a division of NISC. Nationwide, Nationwide is on your side and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. © 2025 NFM-24833AO Subscribe to Nationwide News Contact:Alessandra MohrThe Bliss Group212-840-1661amohr@ Kristen Vasas-SamsonNationwide(614) 435-5716vasask@ View original content to download multimedia: SOURCE Nationwide Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
22% of Singles Are ‘Scared' to Retire Alone — How to Plan for a Solo Retirement
A recent study conducted by Advisor Authority and powered by the Nationwide Retirement Institute found that 22% of single investors are 'scared' of retiring alone. Find Out: Read Next: Now, facing solo retirement, single investors need to be extra proactive to ensure they can retire comfortably, even without the help of a spouse's or partner's income. These four strategies can help single investors plan for retirement. Having a bigger emergency cushion set aside can help ease some of the stress that may come with solo retirement. Living on a fixed income can be a challenge, but having an emergency fund set aside can give you some breathing room if there are months with higher expenses. According to the study, compared to 62% of partnered investors, 49% of single investors have a strategy to protect their assets against market fluctuations and risk are focusing on diversification of their assets. Those headed for solo retirement should focus on diversifying their assets and setting up 'income streams that don't depend on the market cooperating every year,' said Aaron Cirksena, founder and CEO of MDRN Capital. Social security benefits can start as early as 62 but drawing on social security before your full retirement age will result in a reduced monthly benefit. Cirksena cautioned that 'if you're single, the timing of Social Security matters even more because you don't have a spousal benefit to lean on.' As a result, maximizing your payout can go a long way towards additional security in retirement. He added that 'if you can hold off past full retirement age, that extra 8% per year in delayed credits really adds up.' Cirksena recommended withdrawing funds from taxable accounts first and moving to tax-deferred accounts later. 'It's about managing taxes over decades, not just year-to-year,' he said. 'When you're planning solo, everything falls on your shoulders,' said Cirksena. This makes it even more important for 'the plan to be dialed in.' Focusing on a solo retirement strategy that includes building a larger emergency cushion, diversifying investments and income streams, maximizing social security, and drawing from taxable accounts first can help ease the financial strain of solo retirement. But regardless of what strategies you use, Cirksena recommended 'structuring your plan so you don't have to guess your way through retirement — it's best to maintain flexibility, automate smart decisions, and be proactive, not reactive.' More From GOBankingRates What $1 Million in Retirement Savings Looks Like in Monthly Spending Here's the Minimum Salary Required To Be Considered Upper Class in 2025 5 Little-Known Ways to Make Summer Travel More Affordable 12 SUVs With the Most Reliable Engines Sources: Nationwide, 'Single in Retirement: Looking for Love and Financial Security' Aaron Cirksena, founder and CEO of MDRN Capital. This article originally appeared on 22% of Singles Are 'Scared' to Retire Alone — How to Plan for a Solo Retirement
Yahoo
14-05-2025
- Business
- Yahoo
22% of Singles Are ‘Scared' to Retire Alone — How to Plan for a Solo Retirement
A recent study conducted by Advisor Authority and powered by the Nationwide Retirement Institute found that 22% of single investors are 'scared' of retiring alone. Find Out: Read Next: Now, facing solo retirement, single investors need to be extra proactive to ensure they can retire comfortably, even without the help of a spouse's or partner's income. These four strategies can help single investors plan for retirement. Having a bigger emergency cushion set aside can help ease some of the stress that may come with solo retirement. Living on a fixed income can be a challenge, but having an emergency fund set aside can give you some breathing room if there are months with higher expenses. According to the study, compared to 62% of partnered investors, 49% of single investors have a strategy to protect their assets against market fluctuations and risk are focusing on diversification of their assets. Those headed for solo retirement should focus on diversifying their assets and setting up 'income streams that don't depend on the market cooperating every year,' said Aaron Cirksena, founder and CEO of MDRN Capital. Social security benefits can start as early as 62 but drawing on social security before your full retirement age will result in a reduced monthly benefit. Cirksena cautioned that 'if you're single, the timing of Social Security matters even more because you don't have a spousal benefit to lean on.' As a result, maximizing your payout can go a long way towards additional security in retirement. He added that 'if you can hold off past full retirement age, that extra 8% per year in delayed credits really adds up.' Cirksena recommended withdrawing funds from taxable accounts first and moving to tax-deferred accounts later. 'It's about managing taxes over decades, not just year-to-year,' he said. 'When you're planning solo, everything falls on your shoulders,' said Cirksena. This makes it even more important for 'the plan to be dialed in.' Focusing on a solo retirement strategy that includes building a larger emergency cushion, diversifying investments and income streams, maximizing social security, and drawing from taxable accounts first can help ease the financial strain of solo retirement. But regardless of what strategies you use, Cirksena recommended 'structuring your plan so you don't have to guess your way through retirement — it's best to maintain flexibility, automate smart decisions, and be proactive, not reactive.' More From GOBankingRates What $1 Million in Retirement Savings Looks Like in Monthly Spending 5 Cities You Need To Consider If You're Retiring in 2025 5 Little-Known Ways to Make Summer Travel More Affordable 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives Sources: Nationwide, 'Single in Retirement: Looking for Love and Financial Security' Aaron Cirksena, founder and CEO of MDRN Capital. This article originally appeared on 22% of Singles Are 'Scared' to Retire Alone — How to Plan for a Solo Retirement Sign in to access your portfolio
Yahoo
14-04-2025
- Business
- Yahoo
Single in Retirement: Looking for Love and Financial Security
One in five single investors fear they may never be able to retire COLUMBUS, Ohio, April 14, 2025 /PRNewswire/ -- For many Americans, being single in retirement was not part of their life's plan. Yet millions will face their second act without a partner, adding financial strain to this significant life transition, according to a new Advisor Authority study, powered by the Nationwide Retirement Institute. A quarter (25%) of single investors say they did not plan to be alone in retirement and nearly the same share (22%) say they are scared to grow old alone. Only a small group (9%) say they enjoy the independence of being single in retirement. Despite these challenges, single investors remain optimistic about finding new love, with a quarter (26%) still hoping to find a partner in retirement. Those planning for retirement without a partner are bracing for added financial headwinds. More than a third (37%) of single investors say they experience more strain or financial hardship compared to their married or partnered peers, a rate that increases significantly for single investors under 50 years old (44%). Non-retired single investors are concerned about their retirement prospects, with 18% indicating they don't know if they'll ever be able to retire. The amount this cohort has saved for retirement, compared to their perceived target savings goals, shows a significant disconnect. Nearly half (46%) of single investors say they would need up to $600,000 in retirement savings to feel comfortable about their future. Yet, just 23% say they have at least $250,000 saved and only 18% say they have $500,000 or more saved towards retirement. "Single investors are facing retirement challenges that their coupled counterparts are not, relying solely on their individual saving efforts compared to those with a second source of income from a partner," said Rona Guymon, senior vice president of Nationwide Annuity Distribution. "It's not surprising they believe they need to hit a 'magic number' in retirement to live comfortably. What's important to remember is that everyone's savings goal will vary based on more than just relationship status. It's good to have an attainable goal, but holistic financial planning with an advisor – who can help address single retirees' unique needs – is a more constructive way to think about achieving a secure retirement." Single and Partnered Investors Vary in Their Approaches Single investors may be missing some opportunities to optimize their investment approach compared to their coupled counterparts. For example: Less than half (49%) of single investors who have a strategy to protect assets against market risks say they focus on diversification of assets or non-correlated assets in their retirement portfolios, compared to 62% of partnered investors. About one third (34%) of single investors do not currently have a strategy in place to protect their assets against market risk, compared to 27% of partnered investors. Single investors are less likely to turn to an advisor or financial professional for help, with just 35% saying they currently pay to work with one, compared to 46% of partnered investors. Single investors who do work with a financial professional find the most important benefits of doing so include protecting their assets against market risk (20%), helping them make more informed decisions (15%) and keeping them focused on long-term goals (15%). For Advisors, Decumulation and Tax Strategies Have Become a Priority Financial professionals are focused on guiding their single clients toward a stable retirement, ensuring they have the resources and strategies needed to navigate their finances. Nearly half (49%) of advisors are providing guidance to their single clients approaching retirement on when to claim Social Security benefits, and a similar share (49%) are discussing when to withdraw funds from retirement accounts. Tax planning is another key area of focus. More than a third (36%) of advisors are developing a plan to combat negative tax impacts traditionally alleviated by spousal income for single clients approaching retirement. "Whether you're a single person planning for retirement or a financial professional working with one, it's important to recognize there are several elements of financial planning that may be different when retiring without a partner," Guymon said. She highlights the following considerations for single savers to address with their financial professional: Emergency Funds: Building a robust emergency fund is key for single retirees who may not have a secondary source of income from a partner to provide financial stability should adversity arise. Estate Planning: Estate planning may look different for those who don't have a partner or children. Not only is it important to clarify beneficiaries, but also who will speak on a single retiree's behalf should they lose the ability to represent themselves. Long-Term Care: Single retirees are less likely to have a natural caregiving solution in place. It's important to consider long-term care solutions as early as possible in the planning process. Taxes: Without the benefit of filing jointly, single retirees often face higher tax rates compared to married couples without proper tax planning strategies in place. Social Isolation: While this may seem out of scope for some financial professionals, an important part of a single person's retirement plan should be building a strong support network. Isolation or loneliness can impact emotional well-being, which can lead to poor financial decisions. "The benefits of working with a trusted advisor are clear when it comes to feeling confident about living in retirement, regardless of relationship status," Guymon said. "In today's highly volatile market conditions, advisors should help single investors stay focused on their long-term plan and understand the value of protection solutions, like annuities. This is particularly important for those without the additional security of a partner to fall back on." The Nationwide Retirement Institute offers additional resources to help advisor facilitate conversations with clients. For additional insights on this survey data, see our infographic. Nationwide's tenth annual Advisor Authority study powered by the Nationwide Retirement Institute® explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today's complex market. About Advisor Authority: MethodologyThe Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 610 advisors and financial professionals and 2,524 investors ages 18+ with investable assets (IA) of $10K+, January 6-25, 2025. Among the investors, there were 866 single investors in total including 423 women investors, 434 men investors, 460 investors age <50, 406 investors age 50+ as well as 1,658 married or partnered investors. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data for advisors is accurate to within ± 4.0 percentage points and for investors the sample data is accurate to within ± 2.5 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed populations of interest. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact vasask@ About The Harris PollThe Harris Poll is one of the longest running surveys in the U.S. tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit About NationwideNationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide is rated A+ by Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; and pet, motorcycle and boat insurance. For more information, visit Subscribe today to receive the latest news from Nationwide and follow Nationwide PR on X. Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, OH. Nationwide Retirement Institute is a division of NISC. Nationwide, Nationwide is on your side and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. © 2025 Contact:Alessandra MohrThe Bliss Group212-840-1661amohr@ Kristen Vasas-SamsonNationwide(614) 435-5716vasask@ to Nationwide News View original content to download multimedia: SOURCE Nationwide
