Yellow Pages |   News Updates |   Local Jobs |   Events Calendar |   Movie Times | Recycling
Rocklin and Roseville Today BIG DoG Countdown!
contact add event advertise 

Americans Adapting New Mindset for Funding their Retirement



LOS ANGELES - While the U.S. economy has accelerated in the last year, Americans 55 and older - many of whom saw their retirements stung by the financial crisis - are course-correcting their lifestyle plans, work/leisure expectations and investing strategies, according to a study released today by AIG Life and Retirement in collaboration with Age Wave.

According to the AIG Retirement Re-Set Study, 72% of the survey respondents said the recent economic uncertainty provided a "financial wake-up call." And 80% of those 55 and older said they are now more cautious in their approach to investing. They are far more likely to seek financial peace of mind as a key goal versus potentially higher - but riskier - returns.

"Americans are rightfully concerned about retirement and more careful in their investment strategies," said Jay Wintrob, President and CEO of AIG Life and Retirement. "The 2008 global financial crisis provided a financial wake-up call that people have taken to heart. They are now seeking a safer and more predictable road to retirement, one with less risk and more financial security."

"In a new era of flux and uncertainty, Americans are rebounding from a difficult period and showing their resilience by turning toward greater expense control and more responsible retirement planning," said Ken Dychtwald, CEO of Age Wave. "Lessons learned have not been forgotten. Many people are adapting a new retirement mindset and are choosing to work a bit longer, thereby helping to make retirement more affordable. They are re-setting their sights on a revised, more achievable path to retirement."

The 2012 survey, conducted online within the United States by Harris Interactive among 3,426 respondents aged 55 or older, follows last year's noteworthy study which unearthed a new approach to post-recession retirement strategies. AIG Life and Retirement and Age Wave first partnered in 2001 on a groundbreaking Re-Visioning Retirement Survey.

This year's survey found that more than four times as many people chose saving enough to have "financial peace of mind" (61%) as a top financial priority compared to accumulating as much wealth as possible (14%).

Eight times as many people (32%) plan to look into ways to protect existing assets than those who plan to invest more aggressively to make up for lost time (4%) in response to the recent economic and financial market uncertainty. And 54% expressed concern about their personal financial situation, saying they felt less financially secure than they did a year ago.

"The impact of the most difficult economy in generations has left a lasting impression, with Americans seeing their retirement savings jeopardized by low interest rates and high market volatility," Mr. Wintrob said. "While the stock market and economy have somewhat rebounded, the confidence that many Americans once had has diminished. People are now looking for stable, lower-risk strategies that will provide the income and security they need in retirement."

According to Dr. Dychtwald, "It's notable that protecting themselves and their families from investment surprises is of utmost importance to men and women nearing or in retirement. While there has been a great deal of discussion about the economic impact of the past few years, this survey revealed that the psychological impact was also substantial - and a new mindset is emerging. Today, people are far more likely to recognize the need to scale back some of their retirement expectations while stepping up their saving and responsible financial planning."

"Financial peace of mind is critical for Americans today," Mr. Wintrob said. "We are keenly focused on providing the protection, investment and income solutions needed for financial and retirement security, and I'm confident that the entire financial services industry will play an important role in helping Americans improve their retirement outlook and prepare for tomorrow."





Placer County News Headlines

A Taste of Excellence in Rocklin on May 2The Board of Directors of the Sierra College Foundation is pleased to announce the 11th Annual A Taste of Excellence, the organization's largest fundraising effort

Mazda CX-5 SUV is a WinnerMazda definitely made a wise move several years ago, introducing the CX-5 in hopes that it would fare better

The Fire Fee Shell Game: You Lose!Democrats in the California Legislature seem to be facing the reality that the fire tax they passed with the Governor's help in 2011 is unfair

Bipolar Disorder: Man Has Success (ATOU Cares)Sixty-seven year-old John Martin has bipolar disorder 1, a form of the disorder in which the manic state dominates.

Sutter Roseville Medical Center Opens New ChapelSutter Roseville Medical Center (SRMC) dedicated its new chapel this week, highlighting the beautiful space available to patients, visitors and staff

Deputy Secretary of Commerce Kicks Off Cap-To-CapOver 320 regional business, civic and elected officials travel to Washington, D.C. this week to meet with federal representatives to advocate on behalf of the six-county Sacramento region.

Miss Placer County Pageant Accepting ApplicationsMiss Placer County Pageant accepting applications for the June 27th pageant at the Placer County Fair.

Rocklin Crime Report Digest Update (4-17-15)Rocklin crime summary and digest update report for the period of April 6- 12, 2015.

Roseville Crime Report Digest Update (4.17.15)Weekly crime report digest update for Roseville, April 17, 2015

Roseville Vendor Workshop April 30thThe Roseville Chamber of Commerce is working in partnership with the City of Roseville on a commitment to educate our members on the City's bidding process

Sports Complex in Roseville Expected to Boost EconomyPlacer Valley Tourism and The City of Roseville are moving forward on plans to build a regional park with eight to twelve multi-use fields to strengthen Placer County's

Playing to Win at Studio Movie Grill in Rocklin May 9thPlaying to Win: A Relentless Pursuit to Save a Team to premiere at Rocklin's Studio Movie Grill beginning May 9th


NEWS: In Case You Missed It