It’s Kind of Insane More Americans Don’t Know The One Factor That Doubles Retirement Savings

Core Insights - Doubling retirement savings is achievable for many Americans without requiring a high income or significant lifestyle sacrifices [1][2] Group 1: Financial Advisor Impact - Northwestern Mutual's 2024 Planning and Progress study indicates that individuals working with a financial advisor have approximately twice the retirement savings compared to those managing their investments independently [3][4] - The average retirement savings for those with a financial advisor is $132,000, while those without an advisor average $62,000 [4][6] - Individuals with financial advisors plan to retire at an average age of 64, compared to 66 for those without advisors [4][6] Group 2: Financial Security and Planning - Those who engage with financial advisors are more likely to have long-term financial plans that consider economic fluctuations [5][6] - Advised individuals are also more likely to maintain emergency savings, which helps prevent debt and facilitates retirement investing [5][6] - The presence of a financial advisor contributes to a greater sense of financial security among clients [5]