While almost two-thirds of pre-retiree households (age 55-70) do not have a professional financial advisor, the majority (54 percent) of those who do feel confident that they will be able to live the retirement lifestyle they choose.

According to research from Windsor-based LIMRA, three times as many pre-retirees who didn’t work with a professional financial advisor felt unprepared retirement as compared to those who did. When asked whether they felt confident that they will be able to live the retirement lifestyle they choose, 63 percent of these pre-retirees were not.

"With so much uncertainty in the economy and in the social programs supporting retired Americans, pre-retirees face many challenges when preparing for retirement," said Marie Rice, corporate vice president and director of LIMRA Retirement Research. "Our research is clear, those who use professional financial advisors enjoy the peace of mind that they are making the appropriate decisions to ensure they have a financially secure retirement."

Prior LIMRA research found that less than half of pre-retirees have adequately saved for retirement. In fact, 55 percent have less than $100,000 in household financial assets. In addition, research shows that less than half of pre-retirees have considered the implications of outliving their income. That’s 30 million Americans who are woefully unprepared for retirement.

"Retirement planning involves many complicated decisions that should not be done without the knowledge and expertise that a professional financial advisor can provide," said Rice. "Pre-retirees who use this help to make these critical decisions are more confident that they made the right choices."