The One Financial Move That Can Double Your Retirement Savings

Saving for retirement is more important than ever. Fewer Americans are pushing cash into employer-sponsored benefit plans, at the same time as Social Security faces an insolvency crisis that may ultimately cut its payout rate. Virtually all solutions to the Social Security issue are unpopular, including breaking promises surrounding benefit values, retirement age, and taxation approaches. As such, putting away as much capital as possible in tax-advantaged retirement accounts is perhaps the only way to actually achieve a comfortable exit from the workforce somewhere down the line. 

But investing in your future isn't the end-all-be-all. The frameworks you utilize to manage that capital play a significant role in its ability to blossom. Recent reporting from Northwestern Mutual (2025) found that investors who work with a financial advisor ultimately sport savings volumes that average twice those of savers who go it alone. Meanwhile, a YouGov poll from 2024 found an advisor uptake rate of just 27% among American savers — a staggeringly low figure considering that working with a financial professional may just be the missing link needed to retire on your own terms.

Northwest Mutual's findings point to a majority belief that professional financial assistance is vital between the ages of 25 and 39. This timeframe aligns closely with key financial and lifestyle milestones, like getting married, having kids, or buying your first home — tasks that naturally transform the way you think about finances.

You will have to pay for professional services, and the fees typically add up to around 1% of the portfolio value annually. However, working with a professional gives you access to tools and mental frameworks that may exist outside the scope of your own expertise. They can help you adjust your savings strategy or create one if you've been flying blind. An advisor can be a helping hand in rebalancing your portfolio to shore up weaknesses, or a source of information when considering stock picks that expose your capital to greater gain opportunities and risk. Regardless of the goals you have for your money, a financial advisor offers stability, research-driven insights, and a third-party perspective to reduce confirmation bias and other traps that can easily work their way into your approach. Ultimately, the study found that the average savings value increases from around $62,000 for those going it alone to $132,000 for savers working with professional advisors.

Now, there are plenty of reasons to avoid certain, potentially predatory advisors. Some red flags to be aware of when choosing a financial advisor include things like a lack of fiduciary status or a strong social media presence. These warning signs speak to an issue of trust, which underpins the entire relationship.