Nearly half of retirees want help managing investments after leaving workplace retirement plans, EBRI data shows.
Retirees are increasingly consulting financial advisers to navigate post-employment financial challenges. According to a report by the Employee Benefit Research Institute, 48% seek guidance on saving and investing after exiting workplace retirement plans, while 33% want advice on handling funds in former employer plans. Another 29% prioritize withdrawal strategies to convert savings into steady retirement income.
The shift reflects growing uncertainty as retirees transition from regular paychecks to self-managed savings. Other common concerns include tax planning, long-term care, debt reduction, and estate planning. Many retirees, previously self-directed, now recognize gaps in their financial knowledge and seek professional support.
Advisers note that retirees frequently ask whether to roll over 401(k) accounts into IRAs, which may offer broader investment options. Direct rollovers are often recommended to consolidate retirement assets and simplify management.