Univest Senior Vice President of Investments Bill VanSant says the retirement plans people depend on have transitioned from Social Security and defined benefit pension plans to 401-k’s and other plans they pay into, and too many people are not saving enough.

“They’re running around, working, raising families, doing the things they like to do.  The financial part they don’t want to deal with.  We often encourage people at their first meeting to lay everything out on the table.  What do the assets look like?  What do the debts look Like?  It gives us a great financial picture of where this person is now, and then we can kind of forecast various scenarios that we can run.”

VanSant says maintenance on assets is a lot like maintenance on a car – you have to change the oil every three thousand miles, check the tires and get it inspected.  He says people need to look at their portfolio regularly and adjust it to changing market conditions.

He appeared Thursday on the WNPV talk program Comment Please by Univest.