The presence of professional financial advice also changed the way Voya’s respondents felt about their retirement decisions. For example, while 22 percent of respondents without an advisor reporte feeling very prepared to make decisions about withdrawing money from retirement plans while avoiding financial penalties, 57 percent of those working with an advisor said the same.
Almost all of the respondents working with an advisor, 92 percent, believe they should be thinking about housing in retirement, compared to 78 percent of the respondents without an advisor.
Voya’s survey was fielded online between Aug. 20 and Aug. 22, 2018, among 1,004 U.S. adults.