Regardless of their age, background or investment philosophy, advisors agree on one thing: Technology is changing the way they do business. Ask them about their client communication, back-office operations and workflow, and almost every advisor will start by marveling, “There have been so many advances in recent years,” as one planner recently put it. Tech tools enable them to allocate their time better so that they can concentrate on listening to clients and helping them address current financial challenges as well as plan for the future.

One of the biggest challenges that individuals face, especially those under age 40, is saving for retirement. The trends are troubling. For starters, parents of young children may focus on paying bills — and stashing away funds to cover their kids’ education — rather than contributing to their retirement account. That’s especially true if talented youngsters pursue a passion: Parents often fork over hefty sums for their gifted kids to participate in elite sports or music lessons, while neglecting their own financial goals.

Even childless couples struggle to save for retirement. Millennials — born in the 1980s and 1990s — often embrace entrepreneurial ventures. But self-employed go-getters tend to overlook retirement savings, only to find that they’ve missed out on a few extra decades of compounding on what could’ve been an initial, modest investment.

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