Skip to content
Friday, October 23, 2026 · Today’s edition, 6:30 a.m. ETFri, Oct 23 · 6:30 a.m. editionSign inMy Desk 0EditionsSign in

Only four in 10 pre-retirees work with an adviser, LIMRA finds

Eighty-eight percent have considered retirement income, but 76% have no plan or spent fewer than five hours on one in the past year.

At a glance

  1. InvestmentNews covered the report on October 14; it surveyed 486 pre-retirees and 804 retirees aged 45 and older in the United States in April 2026, and defines pre-retirees as workers 45 and older who plan to retire within 10 years.
  2. Bill Nash, head of member relations at LIMRA and LOMA, told InvestmentNews the missing piece is the step between intention and action.
  3. Pre-retirees who work with a professional report notably stronger feelings of preparedness: 77% describe themselves as highly prepared, against 47% of those going it alone.

Only four in 10 Americans nearing retirement work with a financial professional, according to LIMRA's 2026 Retirement Income Readiness Report. InvestmentNews covered the report on October 14; it surveyed 486 pre-retirees and 804 retirees aged 45 and older in the United States in April 2026, and defines pre-retirees as workers 45 and older who plan to retire within 10 years.

Eighty-eight percent of pre-retirees have considered how they will generate retirement income, but 76% have no plan or spent fewer than five hours developing, reviewing or updating one in the past year.

Bill Nash, head of member relations at LIMRA and LOMA, told InvestmentNews the missing piece is the step between intention and action. "Consumers have already done the hardest part. They are paying attention, and they are worried about the right things. What's missing is the step from thinking to doing, and that is exactly where the industry comes in."

Pre-retirees who work with a professional report notably stronger feelings of preparedness: 77% describe themselves as highly prepared, against 47% of those going it alone. Yet nearly six in 10 pre-retirees rate themselves as highly prepared even as half have no written retirement plan or have not updated one recently.

Stated worries are concentrated: 43% of pre-retirees cite cost-of-living volatility, and 30% are concerned about outliving their savings. InvestmentNews reports the LIMRA report outlines five approaches for advisers, among them making a written plan the first deliverable and framing the conversation around income. The report cautions that urgency-based outreach is likely to miss the mark, because these prospects already believe planning matters.

An adviser still has to deliver the income once the plan is written, and fee-based products remain a small share of annuity premiums: fee-based products account for about 1% of annuity premiums, a 2025 LIMRA study found, even as insurers call the RIA channel their likeliest growth market.

Reported by the Income & Annuities desk from InvestmentNews — Retirement and Retirement Capital Daily archive. Published . Corrections

Related

Retirement

Ascensus launches referral platform routing 401(k) savers to plan advisers

The recordkeeper administers more than $1.3 trillion for more than 16 million savers; its retirement president expects 18 to 20 partner firms live by this time next year.

Retirement

LIMRA: 77% of advised pre-retirees feel highly prepared for retirement vs. 47% without

The 2026 Retirement Income Readiness Report also found 76% of pre-retirees spent no more than five hours on planning steps in the last year.

Retirement

Cerulli: 46% of pre-retirees want anytime withdrawals, 39% guaranteed income

Consultants told Cerulli plans may need two or three retirement income options to meet varied preferences.

Retirement

Capital Group paper lays out 4% to 5.5% withdrawal rates for target-date funds

The framework models a 30-year retirement, with fixed annual withdrawals starting at 4% to 4.5% and variable withdrawals at 5% to 5.5%.

Retirement

Capital Group publishes 4% to 5.5% target date withdrawal ranges

The Los Angeles manager also renamed its 2010 through 2025 target date funds to include "retirement income," pointing the funds at the spending phase.

Retirement Capital Dailyfrom Private Wealth Daily

Plan menus, in-plan income, rollovers and recordkeepers. Weekdays at 7:00 a.m. ET.

Free. Weekday mornings. Unsubscribe from any edition in one click.

From other sections