TY - JOUR T1 - Aging and loneliness: Why financial advisors should help clients and how JF - Financial Planning Review Y1 - 2022 A1 - Gibson, Philip A1 - Cheng, Yuanshan A1 - Sam, Janine K. KW - behavioral finance KW - Financial planning KW - Retirement AB - The primary goal of this study is to examine loneliness in retirement and explore steps that a financial planner can take to mitigate client loneliness. Using data from the Participant Lifestyle Questionnaire, and Leave-Behind Module from the Health and Retirement Study database, we show that even after controlling for relationship status and having a purpose in life, leisure activities can help reduce loneliness. When compared to increasing household wealth, the authors find that engaging in social activities has a greater impact on decreasing loneliness, signaling a possible duty of care owed to clients as it relates to well-being. We conclude with implications and practical strategies financial advisors can implement to help clients as they plan for and navigate retirement. VL - 5 IS - 1 ER -