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- Embed this noticeRetirement has much to do with what one does now. People are living longer and chose to not have kids. That killed the traditional pension and made them unviable. So now it is more up to the individual to properly save. For many that will require financial services whether that be advisors or the folks who create vehicles for long term savings and payments. That requires people to move money around. An annuity, for example, is a pure financial instrument. And that needs someone to create it and manage it.
I think the biggest difference today is that more responsibility is on the individual to make good decisions, at least enough good decisions. That wasn’t always the case. But even on the days of pensions you still needed people to manage them. It’s just that people are more exposed to it.