I’m always amused when I hear financial institutions and advisors debating market share of the retirement industry – as though it even matters. Retirement assets alone now total a new record $24.7 trillion. And no one is getting most of it to manage themselves, no matter what they price their services at or which talking duck / baby / goat they have in their commercials. It’s laughable.
Note that the $24.7 trillion in retirement assets is only a portion of overall US household net worth, which is north of $70 trillion. Relax and do your job, you will never run out of potential customers if you’re taking care of them and their money.
via Financial Planning:
The amount of money socked away in retirement accounts jumped up 6% from year-end 2013 to the end of 2014, according to research by the Investment Company Institute.
U.S. retirement assets totaled $24.7 trillion at the end of December 2014, compared to $23.3 trillion at the end of 2013, the research found.
“Retirement assets accounted for 36% of all household financial assets in the United States at the end of the fourth quarter of 2014,” according to the ICI. The majority of the money is saved in individual retirement accounts and workplace retirement plans, both defined benefit and defined contribution.