Commonwealth Independent Advisor

Michael Clifford

Mike is an IRA consultant on the Retirement Consulting Services team at Commonwealth Financial Network®, member FINRA/SIPC, the nation's largest privately held Registered Investment Adviser–independent broker/dealer. In this role, Mike assists advisors and home office staff on a variety of retirement-related topics, ranging from traditional IRAs, Roth IRAs, and SEP/SIMPLE IRAs to distributions, beneficiary options, portability, and the like. He stays abreast of trends and developments affecting retirement accounts, including IRS laws and regulations, as well as industry news. He graduated from the University of Massachusetts at Lowell with a BS in business management, with a concentration in marketing and management.

Information about securities-registered professionals may be found at FINRA BROKERCHECK.

Recent Posts

Outside the Box: Alternative Retirement Savings Options

Outside the Box: Alternative Retirement Savings Options

Posted by Michael Clifford

June 25, 2019 at 10:00 AM

As of March 2018, only 51 percent of working Americans in the private sector had access to a defined contribution retirement plan (i.e., a 401(k) plan), according to the Bureau of Labor Statistics. In establishments with fewer than 100 employees, that number was just 46 percent. That’s a large percentage of the population without access to traditional retirement savings options. With studies suggesting that Americans currently have a savings deficit and today’s employees less likely to stay with one company for their entire career, it’s imperative as an advisor to ensure that clients have a backup plan so they continue to save on a regular basis. To start, you need to understand your clients’ individual situations, and your clients need to be aware of alternative methods to save for retirement.

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Topics: Retirement Consulting

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