Yellow Pages |   News Updates |   Events Calendar |   Movie Times | Recycling
Rocklin & Roseville Today Entertainment
HOME

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

$5.2 Billion in New Transportation Taxes for California ResidentsCalifornia finally passes a long awaited transportation funding bill May 2017. The California Legislature just passed a new Transportation Funding Bill

Wine Adventures Crushes It with Feast for the SensesPlacerville, CA- Wineries in this part of California know how to throw a great party.

Roseville Gas Prices Leaderboard Shifts SlightlyRoseville, CA- Gas prices remained relatively flat this past week in Roseville. Sam's Club nudged Costco from atop the low price leaderboard

Walgreen Co. Pays $9.86M to Settle Allegations of Improper Medi Cal BillingsWalgreens has paid $9.86 million to resolve allegations that it violated the federal False Claims Act

BottleRock Napa Valley 2017 Williams Sonoma Culinary Stage LineupNAPA, CA, -- Situated in the heart of America's wine and food playground, BottleRock Napa Valley, presented by JaM Cellars, has announced that Martha Stewart, José Andrés and Masaharu Morimoto

Lincoln's Community Christian School RelocatingLINCOLN - Lincoln's Community Christian School, which has been serving the community since 1995, announced today that it will be moving for the 2017-18 school year to a new location

2017 Subaru Impreza: Still very impressiveRoseville, CA-The Impreza has been a strong seller for Subaru for years. Offered in hatchback or sedan mode, Impreza sales lean 60 percent toward the hatchback model, which was test driven here

Students to Bring History to Life May 6-7Rocklin, CA - The National History Day - California (NHD-CA) competition returns to William Jessup University (WJU) in Rocklin on May 6-7 for the third consecutive year

Robert M. Maxey Leaves Legacy of Service and LoveRobert M. Maxey, whose ministry to young people throughout the Greater Sacramento area touched thousands of lives over the last two decades

Roseville Flash Crime Report (4.21.17)Roseville, CA- Digest summary update of select crimes for Roseville Police activity for the period covering April 14- 21, 2017.

Northern California's Wettest Year on RecordAt its April 20 meeting, the Placer County Water Agency (PCWA) Board of Directors received news that April showers have boosted Northern California

Jeffrey Zahniser, SCOE's 2018 Teacher of the YearSacramento, CA- Culinary Arts instructor Jeffrey Zahniser walked into school today fully prepared to teach his students another lesson about the art of cooking


NEWS: In Case You Missed It