One key recommendation "is not yet widely enough known," said the director of the Annenberg Public Policy Center.

With fee revenues ranging from roughly $150,000 to $200,000 over the relationship, the average 55 -year-old client is a substantial asset to an advisor’s practice, SmartAsset said.

By and large, an average 55-year-old is highly likely to still be in the workforce and currently employed. Retirement Status. Between 57% and 80% of 55-year-old individuals have a retirement account.