Only 65%, for instance, have a comprehensive financial plan that incorporates investment, retirement and estate planning. Even smaller percentages of the affluent have completed an assessment of how long their assets will last during retirement (58%), explored a plan for budgeting and spending (41%) or created an investment plan to build assets for a child’s education (33%).

Spectrem found that 45- to 65-year-olds are the most likely of three age groups to have completed a comprehensive financial plan and explored a plan for budgeting and spending. The oldest group is the most likely to have assessed how long their assets will last, and the youngest group is the most likely to have planned for a child’s education.

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