A new survey from Boldin, the financial confidence company, reveals that individuals who engage in end-of-year financial planning exhibit high confidence and anticipate maintaining or increasing their wealth through longevity. The survey, which polled more than 1,000 financially savvy Americans who manage their own financial plan using Boldin, found that 99% conduct year-end planning, with a majority reviewing their plan multiple times throughout the year.
The respondents were evenly split between retirees (51%) and those planning for retirement (49%). The majority are high-net-worth individuals, with 70% reporting assets ranging from $1 million to $5 million. Across all current wealth bands, most respondents anticipate having the same or more money at their longevity than they have today, indicating that their planning approach is worth emulating.
Nine out of ten (92%) respondents said that annual or more frequent reflection on their big-picture financial goals and progress towards them significantly increases their confidence. Nearly 80% of retirement planners complete end-of-year planning activities to increase confidence in their plan, while less than half (43%) said they do so to build more wealth over time.
Boldin, which aims to democratize access to high-quality financial planning, offers Retirement Planning software that enables users to manage their own retirement plan independently or with support from Boldin’s coaches and online classes. Users can also take advantage of fee-based, personalized advice from CFP® professionals at Boldin Advisors. To date, more than 450,000 people have used Boldin to create a plan and build their confidence to make smarter financial decisions.
