How Can Customized Information Change Financial Plans?

The brief’s key findings are:

• A 2009 CRR survey measured initial reactions to the financial crisis and then gave respondents customized advice on how to offset their losses.

• In response, some individuals adjusted their plans to make them more reasonable.
• More than 40 percent decided to save more and/or work longer.
• About 25 percent reduced their planned increase in worklife.

• One third did not respond to the advice; they tended to be older and to have more adequate assets, suggesting less flexibility or desire to change plans.