Retirement Planners

The Bureau of Labor Statistics forecasts average employment growth of 4 percent for personal financial advisors, which includes retirement planners, through 2029. Demand for financial planners is growing in part because people are living longer due to advances in the medical and health care fields. The U.S. Census Bureau estimated that in 2010 there were 35 million people in the United States who were age 65 or older. By 2030, nearly one in five U.S. residents is expected to be 65 or older; and by 2050, it's projected that there will be 82 million people over 65 years old. In addition, the number of people age 85 or older may more than quadruple by 2050 (increasing from approximately four million in 2000 to 19 million in 2050). Thus, the retirement planning field should grow as more and more people will be demanding these services.

Job opportunities for financial planners are also growing because the government's Social Security system is often not enough to meet the financial needs of seniors as they continue to live longer and more productively, and because decreased funding for corporate and government pension plans has prompted more people to seek out the services of retirement planners. People are increasingly dependent on savings plans and investments to help maintain a comfortable standard of living through their retirement years. Many people lost money, including their retirement savings, in the recent economic crisis. Some retirees were forced to return to some form of work to increase their earnings. As a result, the focus on sound retirement planning has intensified. Financial planners, especially those who specialize in retirement plans, will be in high demand for their advice and recommendations on the best way to build and manage retirement funds. Job opportunities for certified retirement planners, whether affiliated with a company or self-employed, will be plentiful.