Get Your Clients Excited About Retirement Planning

Many workers feel anxious, unprepared, and behind when it comes to retirement planning. These feelings can cause your clients to shy away from planning for their futures. However, modern retirement products make tasks from plan setup to adjusting contributions easy and rewarding. Today, we’ll go over everything you need to know about how to get your clients excited about retirement planning.

Key Takeaways:

• Your clients may dread the idea of planning for retirement, but you can help change that.
• Presenting your clients with the benefits of retirement planning may help them feel more optimistic about their futures.
• ePlan Services provides easy-to-use tools to make the retirement planning process a breeze.

Common objections to retirement planning:

When consulting with your clients, you may be faced with a series of objections. They may think that retirement is too far down the road to be burdened with planning for it now. However, this kind of thinking could lead your clients down the road to procrastination, which could result in them not having enough money to fund the totality of their retirement years.

Anxiety around not having enough money for retirement is a major reason some employees shy away from retirement planning. In a multigenerational workforce study conducted by Transamerica:

• 47% of millennial workers claimed to feel anxious and depressed about retirement planning.  
• 62% of Gen-Xers are still financially bouncing back from the pandemic.
• 56% of baby boomers expect to work past the age of 70 for financial reasons.

Many of your clients may assume that they’ll be working way past normal retirement years just to make ends meet. But with proper preparation and your assistance, you can show them it is possible to accumulate enough savings to retire on time. For starters, you can explain that if they begin contributing to a retirement plan as soon as possible, they can take advantage of compound interest. This will allow their funds to mature—helping them to better prepare for the future. Want to give them an even greater sense of relief? Inform your clients that when they are close to retirement age, they have an opportunity to save even more money by making catch-up contributions, which can add even more funds to their nest egg.

If your clients have a long way to go before retirement, they may have no idea how they want to spend their retirement years or how much money they’ll need to live comfortably. Setting up an appointment and consulting with them regarding some of these concerns can help to change their attitudes about retirement planning.

Exciting benefits of retirement planning:

Though the idea of retirement planning may seem overwhelming — or, worse, boring — it doesn’t have to be.

Your clients may be glad to learn that a traditional 401(k) account is funded using their pre-tax income, which is automatically deducted from their paycheck, lowering their taxable income. Plus, because their contributions are tax-deferred, your clients won’t have to pay taxes on these funds until the time of withdrawal, ideally during their retirement years.

Streamlined tools provided by ePlan Services:

Showing your clients their savings potential could prove to be an exciting experience. Do your clients participate in an ePlan 401(k) retirement plan but don’t know how much money they’ll need for the future? You can bring a smile to their faces by guiding them through the retirement outlook calculator, conveniently located on the employee dashboard. It will give them a rough estimate of how much money they may need to retire comfortably.

Using the employee dashboard, your clients can also easily adjust their contribution amount. Aside from the convenient employee dashboard, your clients will also have access to tons of educational retirement planning content via the ePlan Services blog page, answers to frequently asked questions in our help center, as well as assistance from our experienced sales team.

Conclusion:

Planning for retirement doesn’t have to be stressful or uninteresting. Show your clients how exciting it can be to look toward their futures. Our interactive tools and educational resources can help to make managing your clients’ retirement accounts fun and hassle-free.