| CFR News
CFR Director (Dr. Bill Gustafson) was one of the delegates at the 2002 Saver Summit. Click here for more information. |
| The financial service industry has undergone tremendous change with respect to the quality and quantity of service delivered at the consumer level. Changing governmental, social, economic and demographic forces have dictated the need for professional assistance in meeting personal and family financial goals. The CFR has seen a dramatic increase in the number of stories in the national media emphasizing the coming social and political disaster regarding the lack of knowledge and planning for retirement. The Wall Street Journal, USA Today, Money, Forbes, Fortune and numerous electronic media organizations others have presented information regarding squandering of lump sum distributions, lack of any retirement savings, lack of knowledge of amount needed to retire as well as where to obtain professional help to calculate needs (current research shows "friends and relatives" as the main source of information). As life span increases because of improved (but much more costly) health care and the "baby boom" advances toward retirement, sound financial planning will be the main strategy for avoiding what now appears to be a developing crisis. By helping to plan for adequate private funding of retirement, providing risk coverage for serious health problems, and funding of college expenses for children, financial planners are contributing to both national and family economic security. |
Center for Financial
Responsibility
College of Human
Sciences, Texas Tech University
Box 41162
Lubbock, TX 79409-1162
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