Scary finances? Run away.
That's the consensus of Americans surveyed in a report from Hearts & Wallets, which studies U.S. retail investors. The study uses data about consumer attitudes, behaviors and buying patterns of more than 5,400 U.S. households gathered in July.
Two top areas for those in or nearing retirement: finding resources to plan financially in retirement and developing strategies for making withdrawals from several accounts.
When it comes to handling their finances, most people are winging it, the report shows. People are likeliest to seek help choosing the right investments, but that still accounts for only 18 percent of those who are still working and saving for retirement — labeled "accumulators" by Hearts & Wallets.
"Consumers get confused or default to inertia because they don't understand which solution out of the wide range of offerings in the marketplace fits their specific needs," said Laura Varas, CEO and founder of Hearts & Wallets.