Retirement planning will need to change as the country’s economic situation changes, according to J.P. Morgan Asset Management.

The firm is predicting lower overall returns for retirement accounts for the foreseeable future, which will require additional retirement savings on the part of employees, says S. Katherine Roy, the firm’s chief retirement strategist.

“There is a clear need to lower return expectations,” Roy said during the presentation of the firm’s “2017 Guide to Retirement” on Wednesday. The guide is designed to help advisors assist clients of all ages in retirement planning.

Investment returns should be calculated as 6 percent in making out a retirement income and spending plan, she said. At the same time, Social Security may provide less retirement money, and Medicare may cost more in the future, Roy said.

The guide warns young workers who may be tempted to put off saving for retirement about the dangers they would face in the future. A 40-year-old worker making $100,000 a year would have to save 25 percent of his salary to provide for retirement at a similar lifestyle level, the guide warns. The longer the person waits, the higher the savings level that would be required to provide an adequate retirement.

The guide also suggests a young employee may want to start saving in a Roth or other non-deferred retirement account when he is young and in a low tax bracket. He could then switch to tax deferred accounts as he climbs to higher tax brackets.

David Kelly, J.P. Morgan’s chief global strategist, described the current economic climate as a “healthy tortoise.” The economy will continue to grow, but slowly, probably reaching 2 percent to 2.5 percent growth this year and maybe 3 percent next year.

“There is a certain amount of optimism now about the economy, but some of it might be unwarranted,” Kelly said. “Deregulation proposed by President Trump will be market-friendly, but any tariffs that might be imposed on trade goods will not help.”

Advisors should be telling their clients to “save more, invest more of their savings, and diversify more,” Kelly said.